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FREMONT, Calif. May 10, 2006 – Auvitek International Ltd., a fabless semiconductor supplier to the digital television market, has secured $9 million in Series B financing led by BA Venture Partners. The new financing will be used for next generation product development as well as market expansion in the digital and high-definition television markets. Auvitek offers HDTV demodulators for digital televisions, television set-top-boxes, personal computers and DVD player/recorders. “Auvitek has impressed us with technical achievements and high quality products that are already beginning to garner design wins,” said Jim Jones, Managing Director, BA Venture Partners. “Auvitek is well poised for continued success given the rapidly growing market for advanced semiconductors solutions in the digital television market.” “Receiving funding from BA Venture Partners has the added benefit of bringing with it an excellent team with decades of experience in the electronics industry,” said Ping Dong, CEO of Auvitek. “We look forward to working with the BAVP team as we strive to accelerate market traction for our innovative HDTV semiconductors.”
Auvitek International Ltd. Secures $9 Million in Series B Financing Led by BA Venture Partners
Auvitek International Ltd. is a fabless semiconductor company founded in March 2004 with its US operations based in Silicon Valley, California. Auvitek designs high performance yet cost effective DTV/HDTV demodulation processors and provides multimedia solutions for the fast growing digital television market. Auvitek's patent pending technology and extremely efficient algorithms create unique products that deliver crystal clear video and audio to digital television, set-top-boxes, personal computers and DVD player/recorders. Auvitek is backed by KLM Capital Group, Storm Ventures, VenGlobal Capital and BA Venture Partners.
Auvitek: Victor Ren (510) 651-9988 x118 email@example.com
BA Venture Partners: Matthew Stotts, Tenor Communications (415) 786-2231 firstname.lastname@example.org