CAMBRIDGE, England-Element 14, a U.K. developer of digital signal processor chips, said it has raised $13 million in first-round financing led by Atlas Venture.
“Element 14’s management has brought together a unique technical team to develop products that will have to compete in the global marketplace,” said Graham O’Keeffe of Atlas Venture. “As a result, we have deliberately put together a global investment syndicate comprising members from Silicon Valley, Europe and Japan that can tangibly help build Element 14’s business.”
Element 14’s technology is being developed for use in communications and media products such as high-speed modems, third-generation cellular phones and cable and satellite set-top boxes.
The $13 million investment was co-led by Bessemer Venture Partners and includes Amadeus Capital Partners, TTP Venture Fund, Sofinnova Venture Partners and Nippon Investment & Finance Co. Ltd., said Element 14.
