Kenet Closes $10 Million Series B Funding

June 27, 2004 by Jeff Shepard

Kenet Inc. (Reading, MA), a developer of mixed-signal semiconductor products, announced that it has closed a $10 million Series B preferred round of equity financing at a step up in valuation. This round brings the total equity investment in Kenet to $17 million. New investor Oak Investment Partners led the round, which included participation from all Series A investors Venrock Associates, Kopin Corp. and CP Group. Kenet plans to use the new financing to support expanded engineering, sales and marketing initiatives.

Kenet is developing advanced integrated circuit technology with broad application to portable consumer and communication products. The company's intellectual property, based on innovative analog and mixed-signal design, has foundations in patents developed at the Massachusetts Institute of Technology that are licensed by Kenet. Kenet's products operate at the leading edge of performance while offering substantial improvement in silicon area and power consumption.