Altair Semiconductor completes $25 million in funding from existing investors

LTE chipsets maker Altair Semiconductor has completed a $25 million round of funding from existing investors Bessemer, BRM, Giza, JVP and Pacific Technology.

Altair, which has supplied chips to more than 100 different product models, including tablets, Ultrabooks, portable hotspots, USB dongles and routers, says it will use the funds to strengthen its position in the single-mode LTE market.

The chip company has several firsts to its credit. It was the first chip maker to release the first FDD/TDD chipset in the world, the first commercial LTE chipset to exceed 100Mbps and the first chipset to be certified by Verizon Wireless’ 4G chipset certification program.

Altair on Monday said the new capital will also utilized to support high volume product deployments from its largest customers.

Oded Melamed, co-founder and CEO of Altair, said: “The increase in chip shipments is a testament to the widespread move towards LTE-only across the industry and we intend to use the funds to support our customers as they ramp high volume production and deploy their products in the field.”

In February 2013, Altair said NTMore, a provider of LTE devices, has selected Altair Semiconductor’ FourGee-3100/6202 chipset to power its Intelligent Mobile Hotspot device (NTLR-100). Its LTE mobile hotspot device can securely connect several Wi-Fi devices simultaneously, boasts 100 Mbps DL and 50 Mbps UL speeds, one-touch Internet connectivity, an advanced internal antenna system and USB data tethering functionality.

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