Altair Semiconductor, a start-up based in Israel, has completed a $26 million round of funding for its ultra-low power, small footprint and high performance LTE chipsets.
Over the last year, Altair launched the first commercial LTE product in Poland, the world's first Band 12 LTE solution and the first Digital Dividend LTE router in Germany. The company has completed interoperability testing with numerous tier-one infrastructure vendors around the world, and with an LTE platform that is one of the world's only solutions that offers both TDD and FDD capabilities.
The new funding was led by Jerusalem Venture Partners (JVP). All of Altair's existing investors, including BRM, Bessemer Venture Partners, Giza Venture Capital and Pacific Technology participated in the round.
"As we rapidly expand our footprint in LTE markets around the world, this capital will allow us to continue to provide our customers with the support they need to deploy and commercialize our technology," said Oded Melamed, Co-Founder and CEO of Altair. "As the global LTE market is expected to grow exponentially over the next few years, the funding will help Altair expand our current market leadership position, as well as step up the production of our chipsets in response to the increasing demand from our customers."http://www.altair-semi.com/
- In February, Altair Semiconductor announced that its TD-LTE chipset, alongside Alcatel-Lucent's LTE infrastructure, has successfully completed interoperability (IOT) testing and will take part in several upcoming TD-LTE field trials in India and China. TD-LTE operates in unpaired spectrum.
