Monday, January 12, 2009

Ubicom Raises $7 Million, Names New CEO

Ubicom, a start-up based in Sunnyvale, California, raised $7 million in new funding for its families of 32-bit embedded communications and media processors. The company's IP series of processors employ unique, multithreaded architecture, software-controlled interfaces, and hardware accelerators to achieve superior processor performance and efficiency at low power consumption. Target applications include wireless routers, access points, broadband access devices, security VPN routers, networked media players and other embedded devices.

All major investors including August Capital, Mayfield Funds, Levensohn Venture Partners, Lehman Brothers Ventures and Investcorp Technology Partners have participated in the round.

Ubicom also announced the appointment of Gangesh Ganesan as CEO. Prior to joining Ubicom, Gangesh held management roles in Strategic Marketing, Business Development, Product Marketing and Engineering at Marvell Semiconductor, Cypress Semiconductor and Telex Communications. Gangesh has been serving as the Vice President of Worldwide Sales and Marketing at Ubicom since March 2007.