Maxscend Raising $8M funding
Maxscend Raising $8M funding
Author:Unknown       Time:2008-06-23
Raising $8M funding, Maxscend aggressively pursues China’s terrestrial DTV market
Maxscend Technologies, a leading DTV/mobile DTV chip solution provider, announced that it raised $8M for its second round financing. The lead investor is Infotech Pacific Ventures. As a well-known early stage venture capital firm, Infotech has invested more than 30 high-tech companies since its inception in 2000. Among its portfolio companies, five of them have gone public successfully, including Vimicro International Corporation, the first Chinese IC company that went public on the Nasdaq. Sequoia Capital, the primary investor of Maxscend’s first round financing, also participated in this round.
Roger Li, general partner of Infotech commented: “IC design is one of the key fields that Infotech focuses on. We have been engaging closely with Maxscend Technologies for over one year. Each time when I visited Maxscend’s office, I was always deeply impressed by the team-work spirit and enthusiasm of the staff. It is these people that created lots of milestones of Maxscend, and also it is these people that build up our investor team great confidence in Maxscend. With the rapid development of the market, we believe firmly that Maxscend will achieve tremendous success in near future.”
“As the early stage investor of Maxscend Technologies, Sequoia Capital prides itself in assisting and witnessing Maxscend’s fast growth since the company’s inception in 2006”, said Fan Zhang, Founding Managing Partner of Sequoia Capital China. “We believe that Maxscend will continue to endeavor to achieve the goal of becoming the top IC enterprise around the world.”
Zhihan Xu, CEO of Maxscend Technologies said: “At the downturn of IC industry in China, Maxscend won acknowledgement from multiple investors, this is definitely important recognition of our achievement and potential. I’d like to take the opportunity to express our appreciation to Infotech and Sequoia Captial who believe in and support us generously. 2008 is the crucial year of the development of terrestrial DTV for China, Maxscend is fully prepared and ready to contribute to the fast development of the industry.
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