Intellon Corp. Raises $18 Million in FinancingDecember 28, 2006 by Jeff Shepard
Intellon Corp. announced that it has raised $18 million in new equity financing from Samsung Ventures. Intellon will use the new funds to accelerate the global rollout of its HomePlug® AV compatible ICs and to develop innovative new products.
Building on the company's existing line of HomePlug 1.0 compatible ICs that are already being used on six continents for home networking, IPTV distribution, broadband over powerline (BPL) and commercial applications, Intellon's HomePlug AV ICs enable whole-house distribution of high definition video and digital audio over existing home electrical wiring and coaxial cable, with robust quality of service and tight control of latency and jitter.
"Samsung Ventures is pleased to be investing in Intellon at this exciting time in the industry," said Jay Eum, Managing Director of Samsung Ventures. "With Intellon's release of the industry's first HomePlug AV-based ICs, we look forward to evaluating opportunities for exciting new CE-class products in the future."
"This new round of funding will help Intellon meet the exploding global demand for its HomePlug product line in the service provider, digital home and BPL markets," said Charlie Harris, Chairman and Chief Executive Officer of Intellon. "We are particularly pleased to have Samsung Ventures join the Intellon investor group."