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SyChip closes third round at $19.3 million

Wireless chipmaker SyChip announced Wednesday that it closed its third round of funding with an additional $4.6 million, bringing the round to $19.3 million. New investors for the extra contribution include Genesis Park, Global Strategic Investment, Intel Communications Fund, Markpoint Venture Partners, Masthead and TechQuest. The Plano, Texas-based company closed the first part of the round last November at $14.7 million, according to SyChip Chief Executive George Barber. 3i led the first stage along with participation from Alliance Technology Ventures, Lucent Technologies and Pacesetter Capital. SyChip will use the financing for marketing and development of chips used in cell phones and wireless LAN (local area network) equipment that runs on 802.11b, or Wi-Fi technology.

Wireless chipmaker SyChip announced Wednesday that it closed its third round of funding with an additional $4.6 million, bringing the round to $19.3 million. New investors for the extra contribution include Genesis Park, Global Strategic Investment, Intel Communications Fund, Markpoint Venture Partners, Masthead and TechQuest.

The Plano, Texas-based company closed the first part of the round last November at $14.7 million, according to SyChip Chief Executive George Barber. 3i led the first stage along with participation from Alliance Technology Ventures, Lucent Technologies and Pacesetter Capital. SyChip will use the financing for marketing and development of chips used in cell phones and wireless LAN (local area network) equipment that runs on 802.11b, or Wi-Fi technology.