BANGALORE: HelloSoft, the supplier of signal processing technology and software-defined radio (SDR) solutions for VOIP, Wi-Fi, Cellular, and converged markets, has announced the closing of an oversubscribed $16 million series B financing.
This round is led by Boston-based TD Capital Ventures with the participation from new investors Mitsui & Company Venture Partners, Entrepia Ventures, and current investors, including Venrock Associates, Sofinnova Ventures and Jump Startup, states an official release.
"This latest round of funding demonstrates investors' confidence in our management team, strategy and roadmap. The new investment will help HelloSoft accelerate its development of CelluLANTM for the burgeoning mobile multi-mode handset market. With its experienced team and a innovative technology portfolio, HelloSoft will continue focusing on the world's most advanced low-cost and low-power solutions," the official release quotes HelloSoft CEO Krishna Yarlagadda as saying.
"The convergence of Cellular, VoIP, and Wi-Fi technologies is inevitable and happening at a rate faster than expected. HelloSoft's deep domain experience and expertise in each of these technologies makes the company uniquely positioned to take advantage of this opportunity. HelloSoft's visionary solutions will enable cost-efficient mass deployment of multi-mode mobile communications devices for the converged marketplace," says TD Capital Ventures director & investment partner Jim Goldinger.
"HelloSoft's expertise in developing flexible signal processing architectures gives the company considerable credibility," president of Forward ConceptsWill Strauss says.
HelloSoft V-P Asia Rama Sreeramaneni says, " We will focus on expanding our technologies which will meet the expectancy of the future market demand in VoIP, WLAN, GSM/GPRS/EDGE, we will be investing the fund raised in the R&D facilities, Marketing and Sales, which will help us accelerate our efforts to bring HelloSoft's innovations to efficient results, as well as economically viable to consumers. Our R&D team is working round the clock developing new technological innovations in Communication arena".
