ransdimension, a company that adds USB functionality to portable and non-PC devices such as personal digital assistants and Mp3 players is proving to be quite a draw for venture capitalists. The Irvine, California company recently received $6 million in Series C funding and can receive an additional $4 million by the time the Series C round closes.
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 is also expected to participate. 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.
I have been keeping an eye on this little chip maker for sometime and so far it has met every single target it said it would strive to meet. One of the technology forces behind the company is David Murray of TransDimension, one of the original creators of USB. In an interview with EverythingUSB.com, he said, “Because it solves a basic problem (connectivity) in a “standard” way rather than a proprietary way. This means that mobile devices can connect to various peripherals that are not necessarily specially made for that mobile device.”
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Very interesting, I think I recollect something like that in the past, I’ll have to look after that.