Tzero Obtains $25.5 Million in Series B Funding Led by OVP Venture Partners; Pioneer of Broadcast-Quality Wireless Video Networking Will Use Investment to Expand Market Presence and Bring Second-Generation Products to Market.SUNNYVALE, Calif. -- Tzero Technologies, the pioneer of broadcast-quality wireless video, today announced that it has raised $25.5 million in Series B private equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. . The investment was led by first-time investor OVP OVP Originalverpackt (German: original packaging) OVP Over Voltage Protection OVP Ostvorpommern (German number plate area code) OVP Originalverpackung (German) Venture Partners, which was joined by Quilvest and all of Tzero's current investors, including August Capital, Lightspeed Venture Partners, U.S. Venture Partners, and VentureTech Alliance, the investment management arm of TSMC TSMC Taiwan Semiconductor Manufacturing Company, Ltd TSMC Taiwan Semiconductor Manufacturing Corporation TSMC Traffic Systems Management Center TSMC Toll Station Management Controller TSMC Transportation Supply Maintenance Command TSMC Technical Services Manager Code . Tzero, which will ship its first ultra-wideband (UWB (Ultra-WideBand) A wireless technology that uses less power and provides higher speed than 802.11 Wi-Fi networks or first-generation Bluetooth products. UWB is expected to provide wireless video transmission for home theater systems, cable TV, auto safety and ) chipset A group of chips designed to work as a unit to perform a function. For example, a modem chipset contains all the primary circuits for transmitting and receiving. A PC chipset provides the electronic interfaces between all subsystems (see PC chipset for illustration). solution next month, will use the investment to expand business opportunities and bring new products to market. The company also announced that Dave Chen, general partner with OVP Venture Partners, will join the Tzero board of directors. "Tzero's technology for broadcasting HDTV (High Definition TV) A set of digital television (DTV) standards that offer the highest resolution and sharpest picture. Although some HDTV sets are available in standard (rather square) screen sizes, the overwhelming majority of sets are wide screen, which eliminates over wireless networks is the only UWB chip available on the market today that meets and then exceeds the error-free HDTV requirement set by the leading consumer electronics manufacturers," said Dave Chen, general partner with OVP Venture Partners. "OVP is excited to be part of the team that brings this product to the next high-growth CE market, the wireless digital media centered home." The new Tzero TZ 7000 chipset is the only wireless solution that meets the link reliability and packet error rate requirements defined by Panasonic, Philips, Samsung, Sharp, and Sony. Using the Tzero UWB solution, these consumer electronics manufacturers will be able to provide a completely wireless network for connecting home entertainment systems, computers and other consumer electronic devices within a home or office. "This round of funding will enable Tzero to scale its market presence, gain critical design wins across a broad spectrum of high-volume customers, and bring our second-generation products to market," said Mike Gulett, president and 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. of Tzero. "Dave Chen, with his broad experience in the wireless market, will be an invaluable member of our board as we work to maintain our technical leadership and make a major push to establish market leadership as well." About OVP Venture Partners Over its 23 year history as an early-stage venture firm, OVP has been funding industry leading start ups in the Pacific Northwest. In that period, OVP has invested in more than 98 companies and has driven 22 successful IPO's and 28 mergers and acquisitions. The firm has raised seven venture funds and currently has $700 million in capital under management. With a Pacific Northwest focused strategy and regional presence in Seattle and Portland, OVP seeks opportunities that are at the intersection points between the market's next big waves and those technology strengths native to the region. OVP's focus is on investments in the areas of communications, software, electronics, computational biology Not to be confused with Biologically-inspired computing. Computational biology is an interdisciplinary field that applies the techniques of computer science, applied mathematics, and statistics to address problems inspired by biology. , and nanotechnology. For more information, please go to: www.ovp.com. About Quilvest Quilvest is a global financial group with over six billion dollars under management, operating in the US, Europe, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. and Asia. Over the last thirty-five years, Quilvest has continuously had a strong commitment to Private Equity, through investments in more than 200 funds, and directly in more than 150 private companies. Venture Capital has been a cornerstone cornerstone Ceremonial building block, dated or otherwise inscribed, usually placed in an outer wall of a building to commemorate its dedication. Often the stone is hollowed out to contain newspapers, photographs, or other documents reflecting current customs, with a view to of Quilvest's strategy across cycles. Investment scope covers IT and life sciences, both in funds and in direct deals. For more information, please go to: www.quilvest.com. About Tzero Technologies, Inc. Tzero Technologies is the only IC supplier that enables broadcast-quality video over wireless networks. Tzero transforms the entire home entertainment system into an easy-to-install wireless network that delivers HD quality video, anywhere. Founded in 2003, Tzero is backed by tier-one venture partners, including August Capital, Lightspeed Venture Partners, USVP USVP United States Venture Partners and VentureTech Alliance. Tzero is headquartered in Sunnyvale, Calif. For more information, visit Tzero online at www.tzerotech.com. |
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