TEL AVIV, Israel-Modem-Art, which makes baseband processor chips for W-CDMA terminals, said it has closed $8.4 million in funding.
Fund adviser Apax Partners with $4.2 million led the round. Other companies that participated included Genesis Partners, Tamir Fishman, Bancboston, Argoquest, Gidi Barak and others.
“Modem-Art has signed several strategic partnerships with leading companies in the cellular market,” said the firm. “The company’s baseband processor enables handset manufacturers a smooth, fast, low-risk, low-cost upgrade of their existing terminal designs, in which they have invested a considerable amount of effort and resources in recent years.”
