Alereon gets $20M in funding

AUSTIN, Texas-Alereon snagged $20 million in a Series B round of financing, the fabless semiconductor provider said Tuesday. Longtime investors Austin Ventures, Centennial Ventures and Pharos Capital Group participated in the funding. Alereon, which designs but doesn’t manufacture UWB chipsets, said it will use the cash to begin production of its recently announced AL4000 chipsets. “With the recent announcement of our first products, we are now in position to move beyond the product development phase and into the production phase,” said Eric Broockman, Alereon’s chief executive officer.