New Funds From Plenus Will Help SoC Solutions Provider Further Expand Customer Base and Accelerate Development
LOS ALTOS, CA--Jun 7, 2006 -- Provigent, a leading provider of system-on-a-chip (SoC) solutions for the broadband wireless transmission market, today announced it has secured a credit line of $5 million from Plenus Venture Lending.
"This latest infusion of capital is further confirmation of Provigent's level of stability and maturity," said Provigent CEO Dan Charash. "The funding will help us continue to expand our customer base and accelerate the development and realization of our roadmap."
Provigent recently announced that the customer base for its PVG310 -- a highly integrated single-chip modem specifically optimized for point-to-point radio systems -- had surpassed 30 companies, including several top-tier firms. These customers represents more than a third of the point-to-point radio systems market.
"We were especially impressed with Provigent because of its broad and stable customer base," said Ruth Simha, a Plenus Venture Lending managing partner. "The confidence of Provigent's customers in the PVG310 and the company's other products has been validated by recurring orders. With this growing acceptance and a well-planned roadmap for success, Provigent is positioned as the leading merchant silicon provider for the broadband wireless transmission market."
Provigent's PVG310 incorporates state-of-the-art modulation, demodulation and FEC (forward error correction) functions and supports a net payload of up to 311Mbps (2xSTM-1) and 622Mbps (STM-4) using XPIC (cross-polarization interface cancellation) technology. Provigent's ProviBand(TM) technology, based on the PVG310 enables adaptive code and modulation (ACM) operations over broadband wireless transmission systems.
Plenus Venture Lending, a member of the Dovrat Group, is managed by partners Moti Weiss, Ruth Simha, Plenus manages $110 million in capital and grants technology companies credit lines and loans of $1 million to $10 million. To date, Plenus has extended more than $100 million to such companies as Cyota (sold to RSA Security), Identify Software (sold to BMC), Attunity, Wintegra, Whale (sold to Microsoft), XMPie, EZchip, and e4x.
Provigent, a fabless semiconductor company, is a leading supplier of SoC solutions for the broadband wireless transmission industry. The company is financed by major venture capital companies and private individuals such as Andrew Viterbi, co-founder of QUALCOMM. More information is available on the Web at www.provigent.com.