Mixed Signal Start Up Raises $10M

Online staff -- Electronic News, 6/28/2004

Fabless mixed-signal startup Kenet Inc. has closed a $10 million second round of funding.

The new round brings total raised for the Reading, Mass.-based company to $17 million. Kenet will use the new funding to support expanded engineering, sales and marketing initiatives.

New investor, Oak Investment Partners, led the round and was joined by the company's existing investors, Vendrock Associates, Kopin Corp., and CP Group.

Kenet is developing low power analog and mixed-signal designs for consumer and communications products.

"We are fortunate to be introducing our new products during strong market growth following a slowdown in R&D at large semiconductor companies," said Gerry Sollner, president and CEO, in a statement. "This financing will enable us to quickly scale our operations to meet the demand for our disruptive technology."