AMIMON Raises $14 Million in second Round of Venture Capital

AMIMON, Inc. recently announced it has raised $14 million in a second round of private venture funding. This brings the total investment in the company to more than $21 million. AMIMON is developing a wireless video modem chipset for the transmission of uncompressed high-definition video streams with equivalent data rates of up to 3Gbps, which it plans to bring to market in the first quarter of 2007.

Venture Partners of Boston led this second round. Other participants in this round include Argonaut Private Equity and previous investors Cedar Fund, Walden Israel and Evergreen Partners.

The company will use this second round of funding to bring Wireless HDTV to market.

“AMIMON’s ability to distribute uncompressed wireless HD video streams with wired-equivalent quality is a strategic building block for the home multimedia network” said Lee Barbieri, Managing Partner of Stata Ventures. “We decided to invest in AMIMON due to the enormous market potential for its innovative technologies, its talented management team, its superior technology, and the significant traction it has made with major consumer electronics vendors.”

“This strategic investment will fuel our progress toward full production by early next year” said Dr. Yoav Nissan-Cohen, chairman and CEO of AMIMON Inc. “The major players in the consumer electronics market, including TV, projector, flat panel display and set-top box manufacturers, are excited about the many new applications enabled by our wireless HD technology.”

Red Herring Magazine and the Israel Venture Association also recently named the Company Israel’s Best Start-up in the communications sector.