Magnolia Broadband Raises $6 Million for RF Silicon

Magnolia Broadband, a developer of integrated, multi-transceiver, low-power RF chips for mobile phones, closed $6 million in third round funding. The company's forthcoming DiversityPlus based RFIC chipset, which is expected to ship in Q4 2003, aims to improve both transmission and reception capabilities in mobile terminals using dual antenna inputs and outputs to create more robust signals through its diversity algorithm processing. The company said cell phones powered by DiversityPlus would have better battery life and would enable carriers to improve coverage and data through-put, as well as serve twice as many subscribers with the same infrastructure. The funding was led by SCP Private Equity Partners and included DFJ Gotham Ventures, ECentury Capital, Selway Partners and others. This financing brings the total equity investment in Magnolia to approximately $15 million since April 2001. Magnolia Broadband is based in Clinton, New Jersey.
http://www.magnoliabroadband.com