BPL chip vendor gets $24.5M
Intellon, a chip vendor in the nascent broadband over powerline space, has collected $24.5 million in a B series round of equity financing, the company announced late Wednesday.
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The round was led by new investors BCE Capital (the investment arm of Bell Canada Enterprises), Goldman, Sachs, Intel Capital and Motorola Ventures and included the 16-year-old firm’s existing investors, Comcast Interactive Capital, Duchossois TECnology Partners, EnerTech Capital, Fidelity Ventures, Hydro-Québec CapiTech, Liberty Associated Partners, Philips Venture Capital Fund, TL Ventures and UMC Capital. Motorola Ventures announced its participation in the round earlier this month.
Intellon sells chips that use existing home power grids for home networking and plans to introduce a 200 Mb/s home-networking chip set later this year. The company, which claims to have sold 2 million chips to date, is also working with the HomePlug Power Alliance on a BPL standard.
In July, Goldman Sachs also invested in a BPL service provider, Current Communications.
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