$10 million more for USB startup

USB connectivity specialist TransDimension has closed its Series C financing.

USB connectivity specialist TransDimension has closed its Series C financing.

Los Angeles-based GKM Ventures led the round, which included another new investor, Englewood, Colorado-based iSherpa Capital, along with existing investor Shelter Capital Partners, which led the company's prior $13.0 million Series B round.

Series B investor Rolling Oaks Capital will also participate.

The Series C financing provides for up to $10 million, and includes an initial close of $6 million.

"TransDimension fits perfectly within our strategic focus of companies that are pioneers in the communications, software and digital media enabling technologies", said Jonathan Bloch, Managing Director, GKM Ventures.

"We are excited both with our investment in TransDimension, and our partnership with iSherpa and Shelter, two outstanding firms that share our philosophy of adding value to portfolio companies".

"We are delighted to continue our support of TransDimension", said Michael Woronoff, a senior principal of Shelter Capital.

"Since our initial investment, the company has supplemented its already outstanding team, most notably bringing on industry veteran Rick Goerner as CEO, expanded its technology offerings, and signed many major tier-1 customers.

These actions have solidified the company's position as the leader in the embedded interconnectivity market".

The funding news comes on the heels of TransDimension's recent announcements of design wins with Qualcomm, ATI and Motorola for its USB On-The-Go (OTG) technology.

Proceeds will be used to accelerate product development and marketing of the company's embedded USB-based technology solutions.

The company's USB OTG controller allows direct interconnectivity between computer peripherals and mobile devices using the popular and widely adopted USB standard.

Direct interconnectivity is possible without the aid of an external host, typically a PC, to handle the exchange of data between devices.

"The recent licensing announcements made by Qualcomm and Motorola signal a trend in the adoption of USB OTG by mobile device manufacturers.

We are convinced that there is a huge need in the marketplace for high performance, efficient means to interconnect mobile devices, and USB is a natural solution", Bloch continued.

TransDimension uniquely offers either silicon chip or embedded IP USB solutions supported by a robust USB protocol stack and a broad library of peripheral class drivers.

TransDimension's OTG controllers are designed to minimise CPU loading and ease the implementation of USB connectivity in mobile and peripheral products.

The company's software capability is supported by its subsidiary, SoftConnex Technologies.

"The embedded market is growing rapidly, our products continue to gain wide customer acceptance, and the time to market advantage of our turn-key silicon and software solution is compelling to our customers", said Rick Goerner, CEO of TransDimension.

"The combination of two new investment partners, GKM and iSherpa, with our existing lead VC, Shelter Capital, speaks volumes for their confidence in the market we are pursuing and our ability to provide solid competitive differentiation to our customers.

I look forward to their assistance as we develop future business opportunities".

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