Siano Mobile Silicon, supplier of mobile digital TV receiver chips, announced that it has completed a $20 million expansion capital financing round. The round was led by Israeli venture capital fund, Jerusalem Venture Partners. Gadi Tirosh, a General Partner at JVP, will be joining Siano’s Board of Directors as part of the round.
The proceeds will be used for expanding the Company’s innovative product line as it extends its geographic presence in the emerging North American mobile market. The increasing demand for mobile devices with streaming TV capabilities in North America makes it a desirable market. Siano provides their chips to various leading mobile handset, and home entertainment manufacturers, including Samsung, LG, Motorola, ZTE, Huawei, Dell, Lenovo, Garmin and others. They have been very successful in the Chinese and Latin American markets and hope to become leaders in North America.
Full press release here.
