Israeli VC firms back mobile digital TV chip maker with $23.5m

Siano Mobile Silicon will use the capital to scale up its production capacity, develop new products and explore new markets.

Venture capital firms Jerusalem Venture Partners, DFJ Tamir Fishman, Star Ventures, Walden Israel and Bessemer Venture Partners have invested $23.5 million in Israel’s Siano Mobile Silicon.

This marks the company’s fourth funding round from all of its existing investors.

Set up in 2004, Siano makes and markets semiconductor chips used for the reception of digital television on mobile, portable and hand-held devices. Its products are used by international brands including Samsung, Motorola, ZTE, Huawei, Mio, Garmin and Dell.

The capital will be used to help the company boost its product inventory as well as develop new products and penetrate new markets, according to a Siano statement.

Headquartered in Jerusalem, Jerusalem Venture Partners manages more than $780 million and focuses on companies in the digital media technology sector, including gaming and virtual worlds, mobile media and advertising, semiconductors and hardware for media distribution and enterprise media.

DFJ Tamir Fishman is a partnership between veteran Silicon Valley venture firm Draper Fisher Jurvetson and Israeli venture firm Tamir Fishman Ventures. Draper Fisher Jurvetson manages about $300 million in Israel.

Set up in 1992, Star Venture has made investments in more than 180 technology companies in Israel, which has resulted in more than 75 initial pubic offerings and acquisitions. It manages about $1 billion and is headquartered in Munich, with offices in Herzliya and Dallas.

Walden Israel manages more than $185 million across three funds. It focuses on investments in enterprise software and e-commerce technology, communication and internet infrastructure and healthcare.

Bessemer Venture Partners started investing in Israel in 1992. In 2007, the firm opened an office in Herzliya to make seed and growth investments in sectors including software, internet, semiconductors, storage, services, communications and clean technology.