Newport Media Closes $25 Million Funding Round Led

This funding will be used by the company to deliver Semiconductors for Emerging Mobile Television Market.

Newport Media, Inc., an innovative fab-less semiconductor company providing mobile TV receivers, announced the closing of a $25 million Series B financing led by Oak Investment Partners. Previous investors Benchmark Capital, Venrock Associates, Global Catalyst Partners and Pinnacle Ventures joined Oak in this round. Newport Media has raised over $36 million to date.

“Mobile multimedia is one of the most exciting segments in the semiconductor sector today,” said Bandel Carano, a General Partner of Oak Investment Partners. “In just over a year since its inception, Newport Media has successfully developed the most advanced solution for the mobile TV market and is now poised to deliver a multi-standard platform that will enable major breakthroughs in product size, cost and power efficiency. We look forward to working with Newport Media’s seasoned leadership team to foster their continued success in this exciting market.”

Newport Media is one of several companies developing highly incorporated, system-on-a-chip (SoC) solutions that support all major mobile TV standards. Those standards include Digital Video Broadcasting-Handheld (DVB-H), Digital Multimedia Broadcast (DMB), Integrated Services Digital Broadcasting-Terrestrial (ISDB-T) and MediaFLO. The company’s goal is to give mobile customers a much better viewing experience using small form factor, more power-efficient and less expensive technology.

“We are pleased with this sizable commitment from our investment partners,” said Mohy Abdelgany, Newport Media’s President and Chief Executive Officer. “The financing will enable us to take advantage of our significant technical achievements over the past year. We will bring multi-standard products to market, ramp volume shipments, and help our lead customers with early mobile TV service deployments.”