San Diego’s Entropic Invests In, and Partners With, Cupertino’s Zenverge
San Diego semiconductor designer Entropic Communications (NASDAQ: ENTR) says today it has formed a strategic partnership with Zenverge, a Cupertino, CA-based chip design firm to work together on the next generation of multimedia products for home entertainment systems.
In a separate release, Zenverge says it has closed a $20.5 million Series D round of financing led by Entropic, which disclosed that it has invested $10 million in Zenverge. Both companies specialize in advanced media chips, and Entropic is a co-founder of the Multimedia over Coax Alliance (MoCA). As part of their strategic partnership, Entropic and Zenverge plan to align their technology roadmaps and co-develop products developed for high-definition TV quality video and other multimedia products for the MoCA 2.0 home network.
In addition to Entropic, Zenverge says the CID Group and Woodside Fund also participated in the latest round as new investors. Existing investors DCM, Northwest Venture Partners, and Motorola Mobility Ventures all joined in the round as well. Zenverge says it will use the capital to expand and meet market demand for new and existing products. Entropic CEO Patrick Henry also joined Zenverge’s board of directors.