Fresco Microchip Inc., a developer of RF, mixed-signal and digital signal processing chips for TVs, announced yesterday that it has secured $9 million in series C funding from the Ontario Venture Capital Fund (OVCF) and previous Fresco investors Celtic House Venture Partners and Ventures West.
The funs will be used to help commercialize its expanded product portfolio and to augment its ability to serve customer demand in emerging markets.
Fresco has grown rapidly over the past 18 months by swimming against the current, going after analog TV and hybrid [analog/digital] TV markets at a time when many suppliers are winding down production and engineering resources for analog TV. In March, Fresco launched the FM1062 analog demodulator for silicon tuners, saying the demand for analog-only television remains strong in emerging markets around the world. Fresco also recently launched a family of silicon tuner products that it says reduce design complexity and system cost.