SUNNYVALE, Calif.—Mobile technology startup SiBEAM said it snared $21 million in Series B venture funding.
Foundation Capital led the round, which included follow-on investments from New Enterprise Associates and U.S. Venture Partners. SiBEAM, which designs chips for gigabit-speed wireless equipment, said it will use the funds to accelerate development of its wireless technology.
A representative from each of the investment capital firms joined SiBEAM’s board under terms of the financing.
“From businesses to homes, the proliferation of digital content is driving the need for high-speed, high-quality wireless technology at an affordable price,” said Adam Grosser, a general partner at Foundation Capital.
