Gigle Semiconductor raises $20mn in new round of financing

November 29, 2007 – Gigle Semiconductor, a developer of solutions for residential multimedia networks, has announced that it has raised $20mn in a new round of financing.

The round of financing was led by Scottish Equity Partners (SEP), a new investor, and also included Accel Partners and Pond Venture Partners.  The new resources will reportedly be used for the development and launch of the next generation of residential multimedia network solutions.

“The level of investment and the quality of our investors represents a big vote of confidence for our company, its technology and personnel,” said Juan Carlos Riveiro, President and Director General of Gigle.  “The investment will enable us to meet our promise of providing a solution for residential networks that delivers complete network coverage for the home which is infinitely more reliable than the solutions that are currently available.”

Kent Godfrey, Senior Partner at Pond Venture Partners, added: “We have no doubt in continuing our initial investment in Gigle.  In our opinion, Gigle is the only company that has integrated all the ingredients necessary to deliver a truly global solution for the communication of high-definition video around the home.  The potential is enormous.”