XtremeSpectrum said Monday that it closed a $12 million third round of funding.
New investor POD Holding contributed to the round as did all the company's previous investors including Cisco Systems, Motorola, Alliance Technology Ventures, Texas Instruments, Granite Ventures and Novak Biddle Venture Partners. The Vienna, Va.-based company is developing chips that run on ultrawideband technology, a potential wireless networking standard that could allow consumer-electronics devices such as camcorders, laptops and digital cameras to send and receive video or audio data at high speeds.
XtremeSpectrum plans to use the new funding to expand its customer support capabilities and to launch its products. The company expects to start shipping its initial products in the third quarter of this year.