Quantenna picks up $21M in vencap
Quantenna Communications has closed a $21 million series E funding round. The company picked up $15 million in its series D funding only last March.
The company specializes in silicon for "carrier-grade" Wi-Fi systems. Quantenna's chipsets are used in Wi-Fi systems that can distribute multiple high-definition video streams throughout homes at full 1080p resolution. The company claims its products achieve a "near-zero" packet error rate (PER).
The proceeds from the latest funding round will be used for further development of the company's 4 x 4 MIMO 802.11n Wi-Fi chipsets and to support sales and distribution activities.
The previous round of funding was used to ramp production of chips. Early in the year, Netgear said it would use Quantenna chips; it has since come out with "carrier-grade" Wi-Fi router products.
The latest round of financing was led by new investor DAG Ventures, with participation from the existing investors Sequoia Capital, Sigma Partners, Southern Cross Venture Partners and Venrock Associates.
David French, Quantenna's CEO, said, "This funding will be used to proliferate our products into a broad range of end equipment and to expand our marketing and technical support resources as we grow our customer base globally."