Silicon Image Raises $9.6 Million
Silicon Image Inc. announced that it has raised $9.6 million in venture funding from current investor August Capital and new investors InveStar Capital, and Velocity Capital. This new round of funding will be used to fuel continued development of the company's technology and to build the company's position in the digital flat panel display market. Total investment to date is over $18 million.
``Over the next few years, sleek flat panel displays and other digital display devices can be widely adopted as the preferred way to easily view high quality images transmitted by everything from handheld, desktop, and mobile PCs to DVD players, projection systems, and television receivers,'' said Herbert Chang of InveStar Capital, which led this financing round. ``A key enabler for this vision is a universal, open, and standard interface which makes plugging in any of these devices to any display as easy as it is today to plug almost any telephone into a phone line. PanelLink technology has been shown to be the technology for that standard. We believe Silicon Image is at the heart of a very important new market.''
Silicon Image's PanelLink technology was recently adopted by the Digital Display Working Group as the enabling technology for a universal specification to deliver high quality digital connectivity. This working group is comprised of Compaq Computer, Dell Computer, Fujitsu, Hewlett-Packard Company, IBM Corp., Intel Corp., Microsoft Corp., NEC, and Silicon Image, Inc. was formed to foster rapid adoption of digital displays. PanelLink is also the underlying technology for the VESA Plug and Display (P&D) and DFP specifications.
According to Andy Rappaport, partner with August Capital: ``We are very pleased about the momentum that Silicon Image and PanelLink are experiencing in the market. Between this funding, the recent adoption by the Digital Display Working Group, and prior industry adoption by virtually all leading players, we feel this market is moving well toward the goal of universal standard. With these assets as its foundation, Silicon Image can become a significant semiconductor company in an important and growing market.''