WiMax Chip-Maker Beceem Raises $20 Million To Fill Customer Demand

Santa Clara, Calif.-based Beceem Communications, a mobile WiMax chip supplier, said today that it has raised $20 million in a round of funding that will give the company the capital it needs to increase production and customer support as demand increases worldwide.

Investors that participated in the latest round of financing include: Motorola (NYSE: MOT), along with other existing investors, Global Catalyst Partners, Khosla Ventures, KTB Ventures, Walden International, Intel (NSDQ: INTC) Capital, NEC, Mitsui and Samsung. In February 2007, Beceem raised more than $40 million in a fourth round of financing. The company said with significant funds remaining from that last round, the new round of financing “provides capital to allow the company to fund its aggressive mobile WiMax roadmap at a time when the demand for WiMAX is accelerating.”

Beceem CEO Babu Mandava: “The investment comes at a time when significant expansion of WiMax deployments in regions around the world is driving a steep ramp of WiMax device shipments. The additional capital will allow us to remain focused on executing our WiMAX product initiatives, to support our customers and strategic operator partners and to win new designs worldwide.” Release.

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