Quantenna Secures Series B Funding Of Over $12.7 Million
Sigma Partners and Grazia Equity Invest to Drive Customer Acquisition and Further Development of the Disruptive Technology
Sunnyvale, CA - November 27, 2007 - Quantenna Communications, Inc., a fabless semiconductor company creating advanced, chipsets for wireless technology, today announced that it has closed series B funding of over $12.7 million led by new investor Sigma Partners. The round, which includes another new investor Grazia Equity, along with previous investors Sequoia Capital and Venrock Associates, brings Quantenna's total financing to approximately $25 million. Additionally, Fahri Diner, managing director of Sigma Partners has joined Quantenna's board of directors.
"With the broadband and mobile wireless market exploding, we were looking for emerging leaders like Quantenna with advanced technology and seasoned leadership to execute their vision," said Fahri Diner, managing director of Sigma Partners. "Quantenna is positioned to lead this market forward with game-changing technology and an exceptional team. "
"This is a global opportunity and Quantenna has all the right elements to capture significant world wide market share," said Torsten G. Kreindl, partner at Grazia Equity. "From Europe to Asia to the US, the appetite for digital lifestyles is driving demand for innovative solutions that keep us connected. Quantenna's unique technology promises to disrupt the status quo and raise the bar for wireless communications and networking."
The wireless semiconductor market is expected to exceed $4 billion by the year 2010 according to Gartner Dataquest. With more than 25 Ph.Ds on board, Quantenna has formed a truly unique team and is well positioned to capitalize on the wireless market with technology based on fundamental breakthroughs and innovation in wireless networking, adaptive systems, and advanced MIMO transmission. The company's management team is led by industry visionary Behrooz Rezvani, Ph.D. and Andrea Goldsmith, Ph.D. Prior to founding Quantenna and serving as CEO, Dr. Rezvani, a leader in the fields of communications systems, information technology and telecommunications networks, founded Ikanos Communications and served as CTO through its IPO in 2005. While at Ikanos, Dr. Rezvani led the world's first VDSL2 deployment of 100 Mbps over copper. Quantenna's Co-founder and CTO Dr. Goldsmith is an expert in the field of wireless communications and networks. While serving as CTO for Quantenna, she is on leave from Stanford University where she is a professor of Electrical Engineering.
"We appreciate the recognition from the investment community. This support from top notch VC firms further validates our technology and underscores the immense market opportunity we address," said Behrooz Rezvani, CEO of Quantenna Communications. "We are executing on our vision and this additional capital provides the fuel to drive our product marketing and sales initiatives to win customers and gain substantial market share."
About Sigma Partners
Sigma Partners was founded in 1984 on the principle that people are the essential element of success. That is why Sigma focuses on identifying exceptional entrepreneurs with creative ideas and supporting them in building great companies.
Unlike some firms that hire venture capitalists based upon their business school degrees and finance backgrounds, we think it's much more important to have partners with experience in the trenches starting and running entrepreneurial companies. This first-hand experience allows us to give early-stage companies both tactical and strategic guidance and access to a powerful business network. We work on behalf of our portfolio companies. We know business doesn't always go as planned, but because we've invested in the best and brightest entrepreneurs, together we adapt and create success.
Our investment track record is proof. For over two decades Sigma Partners has invested in over a hundred early stage companies, and our portfolio has consistently outperformed. In 2007, we raised $500 million for Sigma Partners 8, bringing our total capital under management to over $2 billion. We continue to invest today in the same way we have since our inception, by identifying great entrepreneurs and collaborating with them to build strong businesses.
About Grazia Equity
Founded in 1996, Grazia Equity is a leading European venture capital firm specialising in early-stage investments in innovative and high potential companies, either as principal or co-investor. With offices in Stuttgart and Munich, Grazia actively supports businesses over several development stages and financing rounds on the way to becoming a leading player in their respective markets. Its experienced investment team combines highly successful entrepreneurial, operational and investment backgrounds, and has secured significant stakes in pioneers such as MFD (Germany's first mobile TV company) and Conergy (the world's largest independent solar system integrator). As a result, the Grazia team has had the good fortune to be an investor in a longer list of successful growth stage companies which have completed successful IPOs and trade sales in both Europe and the US. www.grazia.com.
About Quantenna Communications, Inc.
Quantenna Communications, Inc., is a fabless semiconductor company creating disruptive next-generation wireless chips with game-changing size, power, and performance characteristics. Founded in 2006 and headquartered in Sunnyvale, California, Quantenna has assembled a world-class team and is backed by some of Silicon Valley's most esteemed venture capital firms, including Sequoia Capital, Sigma Partners, Venrock Associates and Grazia Equity. For additional information, please visit Quantenna's website at www.quantenna.com.
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