CLINTON, N.J.-Semiconductor manufacturer Magnolia Broadband Inc. secured investments from Intel Capital and Uniquest Corp., building on an $11 million financing round announced last October.
While declining to disclose exact figures, the chipmaker said the latest round brings total equity investment in Magnolia to more than $30 million. Magnolia said it will use the funding to expand into other markets, including W-CDMA, and to increase development programs for antenna diversity in cell phones.
The company claims its DiversityPlus chipsets help deliver longer battery life and enable carriers to improve coverage and data throughput.
“We are very pleased to have Intel and Uniquest join our family of investors as we execute our commercial plans and broaden our markets,” said Haim Harel, Magnolia’s chief executive officer. “Intel is a major player in the next generation of wireless products, and we believe their investment is key to penetrating these markets.”
