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Magnolia adds to second round

Magnolia Broadband announced Tuesday that it raised an additional $1.5 million, bringing the total for its second round of funding to $7.5 million. The first part of the second round of funding took place in April. Draper Fisher Jurvetson Gotham Ventures provided the extra funding, which adds to the initial financing from ECentury Capital Partners and SCP Private Equity Partners. As part of the deal, Draper Fisher gains a seat on Magnolia's board, joining SCP and Ecentury, both of which also have one seat. Magnolia makes low-power cell phone chips that send and receive radio signals. The company will use the new funding to complete customer trials of its flagship chip products. Magnolia received its first round of funding in April 2000 from Silverstar Holdings and raised additional financing from Silverstar, CIP Capital and Selway Partners in March and October 2001.

    Magnolia Broadband announced Tuesday that it raised an additional $1.5 million, bringing the total for its second round of funding to $7.5 million. The first part of the second round of funding took place in April. Draper Fisher Jurvetson Gotham Ventures provided the extra funding, which adds to the initial financing from ECentury Capital Partners and SCP Private Equity Partners. As part of the deal, Draper Fisher gains a seat on Magnolia's board, joining SCP and Ecentury, both of which also have one seat.

    Magnolia makes low-power cell phone chips that send and receive radio signals. The company will use the new funding to complete customer trials of its flagship chip products. Magnolia received its first round of funding in April 2000 from Silverstar Holdings and raised additional financing from Silverstar, CIP Capital and Selway Partners in March and October 2001.