DVDO, Inc. Completes Second Private Placement for $3.2 Million.Business Editors/High-Tech Writers CAMPBELL, Calif.--(BUSINESS WIRE)--Feb. 17, 2000 DVDO Inc., a leading Silicon Valley communications technology Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry startup, today announced that it has received an additional $3.2M in second-round funding from new and existing investors. This second round was led by The Angels' Forum of Silicon Valley, a syndicate of professional investors and entrepreneurs. &uot;We are terrifically excited about our initial investment in DVDO,&uot; says Patrick Ellington, member of The Angels' Forum. &uot;We made this investment because the specific technology offered by DVDO and the consumer market opportunity it targets is ahead of current venture capital community interests,&uot; Ellington goes on to say. &uot;Aligning ourselves with The Angels' Forum has proven to be very strategic for us,&uot; said David Buuck, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and chairman of DVDO. &uot;The business experience and industry contacts TAF TAF abbr. tumor angiogenic factor has provided have already played a significant role in the evolution of our business.&uot; DVDO will use the additional funds to pursue volume chip opportunities with global OEMs and system integrators competing in the emerging high-bandwidth Digital Video and Digital Television (DTV (Digital TeleVision) Transmitting TV using digital signals. The major DTV standards are ATSC (North America), DVB (Europe) and ISDB (Japan). All three use MPEG-2 video compression and Dolby Digital audio compression. DVB and ISDB also include MPEG audio compression. ) product market space. DVDO's technology is also being used by other companies pursuing opportunities in the emerging microdisplay and flat-panel computer video monitor product arenas. DVDO will also use the new fund to complete development of the next generation of their award-winning technology. DVDO is a privately-held semiconductor solution company that provides proprietary technology which delivers high-performance, low-cost Digital Video Format Conversion chips that are required for next-generation mass-market consumer video products. These applications include realtime video See real time video. image processing image processing Set of computational techniques for analyzing, enhancing, compressing, and reconstructing images. Its main components are importing, in which an image is captured through scanning or digital photography; analysis and manipulation of the image, accomplished , communications, high-definition video This article is about high-definition video technology. For television systems, see High-definition television. For the tape format, see HDV. For compression and prerecorded media, see High-definition pre-recorded media and compression. displays, and embedded video solutions. Targeted markets for DVDO's chip technology include Digital Television receivers, Direct-to-Home Satellite Television receivers, Digital Set-Top Boxes, DVD players, embedded mobile and portable video systems, and other consumer Digital Video products. The emergence and adoption of digital television and digital video products is predicted to raise demand to a total worldwide end-product market of $30 billion in CY2000. In CY2003, the overall market for semiconductors in digital consumer electronics products is estimated to grow to $12 billion. ABOUT DVDO Headquartered in Campbell, DVDO is a fabless semiconductor startup that was founded in August 1997 by a seasoned team of engineers and managers formerly of Apple Computer. DVDO designs, manufactures, and markets chip technology for the next generation of mass-market Internet enabled progressive-scan Digital Television consumer electronics products. The target market for DVDO's products include interactive Digital Television (DTV), Digital Video Disc See DVD. Digital Video Disc - Digital Versatile Disc (DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. ), Digital Satellite Television, Home Theater An audio/video entertainment center that has a large-screen TV and hi-fi system with three speakers in the front (left, right and center) and left and right speakers in the rear. Starting in the early 1990s, video inputs were added to stereo receivers and preamplifiers. , Automotive, and Airline entertainment applications. DVDO is home to the proprietary PureProgressive(TM) Image Enhancement See image editing. Engine(TM) digital video communications technology, a new high-performance and cost-effective solution for chip-level video format conversion. DVDO has created new and unique intellectual property for this emerging communications technology space, with twelve U.S. and international patents pending. ABOUT THE ANGELS' FORUM The Angels' Forum is a group of about 25 professional angel investors that provide investment capital, guidance, and other strategic resources to promising technology and growth companies based in the Bay Area of Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern . The Angels' Forum is a member of the National Venture Capitalists Association. The Angels' Forum is successful in investing by focusing the collective resources of a group of entrepreneurs experienced in evaluating opportunities, investing in transactions, and accelerating the growth of portfolio companies through their earliest stages of development prior to the involvement of traditional venture capitalists. The group members share a vision of investing their resources in high-risk, high-return startups on a collective basis to increase the probability and the speed of success. The Angels' Forum has investments totaling more than $13 million in 45 companies. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion