RAMAT GAN, Israel-Startup TransChip Inc., which offers digital camera modules for sale to mobile-phone makers, announced it scored a significant $19 million in Series D financing. Redpoint Ventures led the round, and Mission Ventures, Cadence Design Systems Inc., Ray Stata, co-founder and chairman of Analog Devices and Andrew Viterbi, co-founder of Qualcomm Inc. participated in the round.
“Today marks a tremendous milestone for TransChip,” said Viktor Ariel, co-founder and chief executive officer of TransChip. “We are delighted that one of the world’s leading VC firms, Redpoint Ventures, led this round. I am also encouraged that all of our existing investors chose to increase their investments, demonstrating their strong belief that TransChip is positioned to become a key player in the camera phone market.”
The company’s funding news comes as sales of camera phones continue to increase in the global market. Indeed, some handset makers have complained of component shortages, although they haven’t mentioned camera components specifically. TransChip has sold digital camera components to Analog Devices and Taiwanese handset designer Arima Communications.
