Business Altair Raises $25m

Business Altair Raises $25m

Altair Semiconductor, the LTE chip-set specialist, has raised $25 million from existing backers: Bessemer, BRM, Giza, JVP and Pacific Technology.

Altair will use the capital partly to pay for wafers. “We intend to use the funds to support our customers as they ramp high volume production and deploy their products in the field,” says Oded Melamed, co-founder and CEO of Altair, pictured.

Altair produces low cost single-mode LTE chipsets. The cost of integrating LTE-only is substantially lower than LTE+3G.

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