Dune Networks collects $24 million

Semiconductor company Dune Networks has raised $24 million in its first round of funding, the company announced Wednesday. The round was co-led by Aurum-SBC Ventures, Jerusalem Venture Partners and Pitango Venture Capital and includes investments from Alta Berkeley Venture Partners and Elwin Capital Partners. The Agoura Hills, Calif.-based company, which outsources its chip manufacturing, plans to use the money for development as well as marketing its first generation of products.