Beceem Communications Announces
C-Round Financing in Excess of $20 Million;
Lead by Samsung Ventures
Santa Clara, Calif., Dec. 12, 2005 -
Beceem Communications (www.beceem.com), a
leading provider of chipsets for Mobile WiMAX
technology, today announced that it has received
more than $20 million in C-round financing
led by Samsung Ventures America, the US based
venture capital investment arm for Samsung
Venture Investment Corporation (SVIC). Beceem's
existing investors -Global Catalyst Partners,
KTB Ventures, Sequoia Capital, Walden International
and Vinod Khosla also participated in this
financing round. Additional C-round investments
came from the AmBex Venture Group and Mitsui
Incubase Corp.
"This funding provides Beceem Communications
with the financial resources to lead the
Mobile WiMAX chipset market with our high
performance, power-efficient terminal chipset
products and infrastructure baseband solutions," said
Shahin Hedayat, CEO of Beceem. "The addition
of Samsung Ventures to our funding partners
is key to our success as it gives Beceem
access to world-class partners and customers
through the network of Samsung Ventures."
Beceem is a key contributor to the IEEE
802.16e standards effort and is also instrumental
in defining the first Mobile WiMAX profile
for the WiMAX ForumT. Beceem will accelerate
its chipset product development and expects
to be the first Mobile WiMAX chipset supplier
to deliver a product that is fully compliant
with the Mobile WiMAX profile. The company
has already demonstrated its prototype chipsets
to leading telecom equipment manufacturers
that are participating in the development
and deployment of Mobile WiMAX networks.
"Our strategic investment in Beceem
represents Samsung's commitment to Mobile
WiMAX," said Brian Kang, principal investment
manager at Samsung Ventures America. "Beceem
is a key player with leading edge solutions
for the Mobile WiMAX space and we look forward
to providing them with the resources to continue
pioneering in the Mobile WiMAX market."
About Samsung Ventures America
Samsung
Ventures America manages US investment and
investment-related activities for Samsung
Group and Samsung Venture Investment Corporation
from local offices in San Jose. The investment
mandate for Samsung Ventures America tracks
closely to the strategic priorities of various
Samsung companies' core operating divisions,
and encompasses investments in semiconductors,
displays, telecommunications, and consumer
electronics. Samsung Ventures America is
currently actively investing in leading technology
companies from a $300 million fund.
About Beceem Communications Inc.
Beceem
Communications Inc. was founded in October
2003 with the goal of building a wireless
technology company offering semiconductor
solutions for the wireless broadband market.
Beceem is the leading supplier of chipsets
for the recently ratified, IEEE 802.16e standard
on which Mobile WiMAX is based. The WiMAX
Forum recently defined its first Mobile WiMAX
profile at its General Assembly Meeting in
Beijing in November of 2005. The company's
solutions target both base station and subscriber
terminal applications.
Beceem combines an experienced management
team with strong technology leadership and
seasoned Silicon Valley investors, along
with a world class team of engineers. For
more information, visit www.beceem.com.
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