Today, our client, CopperGate Communications, a leading supplier of chipset solutions for multimedia home networking, announced that it reached an agreement to raise approximately $14.5 million in a third round of financing led by new investor Carmel Ventures, with the participation of existing investors Tamir Fishman Ventures and the Challenge Fund.
This financing will be used to accelerate the Company’s expansion into international markets as well as to grow its product development and customer support capacity.
The telecommunications is undergoing a rapid transformation given increased competition in delivering ’Triple Play’ services, CopperGate’s in-home distribution solution is a critical factor in enabling service providers to successfully roll out new multimedia entertainment services to the Digital Home.
Our client is also the prime contributor to the worldwide accepted standard – HPNA V3 for high performance multimedia home phoneline networking.
Founded in 2000, CopperGate addresses the emerging IPTV market with its home networking distribution technology. CopperGate is the pioneer and sole provider of the HPNA V3 standard chipsets, which utilize existing coax cables and telephony wiring in the home. Given the increased competition to offer “Triple Play” services, leading Telco and Satellite TV operators as well as large system and equipment vendors have adopted CopperGate’s solutions, which have already been integrated into a multitude of connectivity-requiring residential devices such as residential gateways, TV set-top boxes, personal video recorders (PVRs) and PC peripherals.