$20M for Provigent in Fourth Round of Financing

Provigent, a leading provider of System-on-a-Chip (SoC) solutions for the broadband wireless transmission market, announced today that it has increased its fourth round of financing to $20 million.

The privately-owned company, which was founded in Israel in 2000 but is now headquartered in the U.S., makes products that “enable system vendors to rapidly develop cost-effective high performance broadband wireless transmission systems.” Their SoCs “offer an unparalleled combination of increased bandwidth, extended range and enhanced flexibility while lowering overall system costs.”

Their hottest product is the PVG310, “a complete state-of-the-art single chip modem that integrates all the physical-layer baseband functionality – modulation, demodulation and forward error correction – for point-to-point broadband wireless transmission.”

Ray Stata, who raised his equity fund’s initial investment from $1 to $4 million, said that Provigent’s “consistently growing and strong customer base is constant validation of its leading position as the merchant silicon provider in this growing market.”

CEO Dan Charash added that the “successful round of funding will enable Provigent to further accelerate its roadmap and market penetration.” “With an established economy of scale, significant R&D investments and a focused dedication to the broadband wireless transmission industry, Provigent continues to establish itself as the market’s leading SoC provider.

Other investors in Provigent include some of the biggest names in venture capital from Israel and abroad, including Sequoia Capital, Pitango Venture Capital and Dr. Andrew Viterbi, co-founder of QUALCOMM.

Check out the press release for more.

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