Gigle Semiconductor (United Kingdom) - Dec 2007

Scottish Equity Partners (SEP) has led a $20m series-B funding round for Gigle Semiconductor, alongside the firm’s existing investors. SEP invested $11m in the round, with Accel Partners and Pond Venture Partners, which co-led the $11m series-A financing in January 2006, contributing the balance of the equity. The new capital is going to be used to fund the commercial development and roll out of the company’s first product. The investors expect a further funding round to be raised in the next 12-18 months.

Company

Gigle, established in 2006, is developing a low-cost processor that is capable of transmitting large amounts of data over existing home power lines and coaxial cables, enabling a wide range of home multimedia devices to be networked together cheaply and efficiently. The company has offices in Edinburgh, Redwood City, California and Barcelona and currently employs 43 staff.

People

Stuart Paterson led the investment and will join the Gigle board. Juan Carlos Riveiro is Gigle’s CEO.

Advisers

Company - Heller Ehrman, Chris Grew (Legal)Equity - Gunderson Dettmer, Richard Hesp (Legal)

Sourced from: UK & Ireland unquote" 361 (Jan 2008)

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