Video specialist secures further finance

Edited by the Electronicstalk editorial team Jun 11, 2003

Alphamosaic has secured $12 million in a series B financing round which will be used to further fund the expansion of the product portfolio and its worldwide operations.

Alphamosaic has secured $12 million in a series B financing round which will be used to further fund the expansion of the product portfolio and its worldwide operations.

New investor Doughty Hanson Technology Ventures led the funding round.

Existing investors Prelude, ACT and TTP Ventures all participated in the round as well.

Commenting, Alphamosaic's CEO Jalal Bagherli says: "We are delighted to welcome such quality investors.

These additional funds will assist the company as we scale up to meet the strong demand for VC01 and our VideoCore processor.

The recently launched VideoCore is "the world's first fully programmable architecture for extremely high quality, battery-efficient video", says CTO Steve Barlow.

"This is what makes Alphamosaic unique".

The company is engaged in a number of development relationships with leading mobile phone manufacturers worldwide.

Says Soren Hein of Doughty Hanson Technology Ventures, who will be joining the board of Alphamosaic: "There is a clear emerging market need for high-performance, low-power video on mobile devices.

Not only has Alphamosaic solved this problem but it has done so with a fully programmable solution that can address current and future multimedia standards".