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Maxscend Raised $8M to Aggressively Pursue China's Terrestrial DTV Market

2008-06-23 11:53 1012

SHANGHAI, June 23 /Xinhua-PRNewswire/ -- Maxscend Technologies, a leading DTV/mobile DTV chip solution provider, announced that it raised $8M for its second round financing. The lead investor is Infotech Pacific Ventures. As a well-known early stage venture capital firm, Infotech has invested more than 30 high-tech companies since its inception in 2000. Among its portfolio companies, five of them have gone public successfully, including Vimicro International Corporation, the first Chinese IC company that went public on the Nasdaq. Sequoia Capital, the primary investor of Maxscend's first round financing, also participated in this round.

Roger Li, general partner of Infotech commented: "IC design is one of the key fields that Infotech focuses on. We have been engaging closely with Maxscend Technologies for over one year. Each time when I visited Maxscend's office, I was always deeply impressed by the team-work spirit and enthusiasm of the staff. These people created lots of milestones for Maxscend, and build up the great confidence that our investor team have in Maxscend. With the rapid development of the market, we believe firmly that Maxscend will achieve tremendous success in near future."

"As the early stage investor of Maxscend Technologies, Sequoia Capital prides itself in assisting and witnessing Maxscend's fast growth since the company's inception in 2006", said Fan Zhang, Founding Managing Partner of Sequoia Capital China. "We believe that Maxscend will continue to endeavor to achieve the goal of becoming the top IC enterprise around the world."

Zhihan Xu, CEO of Maxscend Technologies said: "At the downturn of IC industry in China, Maxscend won acknowledgement from multiple investors, this is definitely important recognition of our achievement and potential. I'd like to take the opportunity to express our appreciation to Infotech and Sequoia Captial who believe in and support us generously. 2008 is the crucial year of the development of terrestrial DTV for China, Maxscend is fully prepared and ready to contribute to the fast development of the industry.

About Maxscend Technologies

Funded by famous venture capital Investors, Maxscend Technologies Inc. was incorporated by a group of Silicon Valley returnees in April 2006. Located in the ZhangJiang High-tech Park, Shanghai, Maxscend is dedicated to developing and marketing DTV and mobile DTV IC chip solutions. For less than two years since its inception, Maxscend has developed three products, all in production, and applied more than 30 patents. Today, Maxscend is a recognized leading DMB/DAB/DAB+ solution provider as well as major supplier of demodulator IC for China digital terrestrial television standard (DTMB).

Maxscend's first product MXD0120 was designed for digital radio broadcasting (DAB/DAB+) and mobile DTV (T-DMB) applications, both of which have great market potential. MXD0120 is the industry's smallest DAB/DAB+/T-DMB demodulator with lowest power consumption. It has been widely adopted by system design houses and OEM/ODMs in China.

In January 2008, Maxscend announced the breakthrough product MXD1320, which innovatively overcame the barrier of supporting both single and multi carrier modes defined in DTMB with an efficient and low-power solution. Soon afterwards, the company further announced MXD0320, a highly integrated demodulator for the DTMB reception on mobile phone, USB dongle, PMP, and other mobile devices.

Awards:

Red Herring 2007 Global 100

Red Herring 2007 Asia 100

EE Times Silicon 60 Emerging Startups

China Private Equity Forum 2008 top 30

Zero2IPO 2007 top 100

Source: Maxscend Technologies
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