SANTA CLARA, Calif., Feb. 7, 2007 (PRIME NEWSWIRE) -- Beceem Communications (www.beceem.com), the leading provider for Mobile WiMAX chipsets, today announced that it has raised more than $40 million in Series D-round financing that will enable Beceem to expand its leadership position in the Mobile WiMAX market. The round was led by Teachers' Private Capital and joined by NEC Corporation, a new investor in Beceem, adding to the company's list of strategic investors.
The funding will be used to accelerate the company's existing roadmap toward achieving robust growth in the WiMax market by investing in new product initiatives and strengthening Beceem's development capabilities for next-generation mobile broadband solutions. The additional funding will also allow Beceem to continue to increase critical resources in support of its growing number of customer engagements.
All of Beceem's existing financial and strategic investors participated in the financing. The list of both new and existing investors in the Series D-round included: Global Catalyst Partners, Intel Capital, Khosla Ventures, KTB Ventures, Mitsui & Co. Technology Investment Group, NEC Corporation, DoCoMo Capital, Samsung Ventures, Sequoia Capital, Teachers' Private Capital, and Walden International.
"The mobile WiMAX market is a space with significant investment opportunities," said Mary Dotz, CFO of Beceem. "We are proud that some of the most sophisticated investors in the industry have recognized our market position and growth potential, as evidenced by their investment in Beceem. The funding is critical for us to continue the growth of our organization as we scale for success at a time of exponential growth in the Mobile WiMAX market," she added.
About Beceem Communications
Beceem Communications Inc. is the leading provider of semiconductor solutions for the wireless broadband market, and the first with commercially available terminal chipsets for the Wave 1 and Wave 2 profiles of the WiMAX Forum, that are based on the IEEE 802.16e-2005 standard. For more information, please visit the company's website at www.beceem.com.
The Beceem Communications logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2167
About Teachers' Private Capital
Teachers' Private Capital is the private investment arm of the Ontario Teachers' Pension Plan, an independent corporation responsible for investing the fund worth more than CDN100 billion, and administering the pensions of Ontario's 264,000 active and retired teachers. With over CDN13 billion in assets, Teachers' Private Capital is one of North America's largest private investors, providing equity and mezzanine debt capital for large and mid-cap companies, venture capital for developing industries, and financing for a growing portfolio of infrastructure and timberland assets worldwide.