Alphamosaic, the industry leader in next generation multimedia processors for mobile phones, has successfully raised $9 million of working capital from its existing venture capital investors.
Alphamosaic successfully raises $9 million in further funding round
Since the launch of its VideoCore technology in 2003, the company has seen a huge ramp-up in demand for its VC01 processor, evidenced by an announcement of a multi-million dollar deal with global electronics company, Samsung.
Alphamosaic is working with a number of leading mobile phone manufacturers in the Far East and Europe, and a number of phone designs are scheduled for volume production this year as camera phones with multimedia and games become the fastest growing cellular market segment.
The latest funding round was provided by existing investors Doughty Hanson Technology Ventures, Prelude Trust, ACT and TTP Ventures.
Commenting, Alphamosaic's CEO Jalal Bagherli says: 'This is our second full year of trading and customer demand for our technology is growing month on month, as are our revenues. This additional funding helps the company to strengthen its balance sheet and working capital position and to take advantage of the market upside opportunities.'
Soren Hein of Doughty Hanson Technology Ventures says: 'Alphamosaic's solution to the industry's twin problems of battery life and image quality is gaining rapid acceptance among the company's global customer base.
'Alphamosaic is rapidly establishing itself as the industry benchmark in the delivery of multimedia processor technology.'
As a leading video and multimedia solutions provider, Alphamosaic is developing a family of processors that make it easy to add video to mobile devices. Markets serviced include mobile multimedia phones and other handheld consumer devices.
Alphamosaic Limited develops semiconductors for video communications and multimedia applications. Privately held and headquartered in Cambridge UK, Alphamosaic is a leading supplier into both video and image markets and is the supplier of choice to the consumer electronics and mobile handset markets around the world.
For more information, please visit www.alphamosaic.com or email email@example.com
For enquiries please contact Dr Robert Swann, Vice President of Marketing at Alphamosaic 01223 420 003
For media enquiries please contact Steve Greenhalgh, Profile Communications 01223 236736.