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North Bridge, Austin Ventures lead $10m funding round in semiconductor firm

20 Feb 2012

North Bridge Venture Partners and Austin Ventures have led a $10m Series C  funding round for semiconductor firm Black Sand Technologies.

Both venture capital firms are existing investors in the Texas-based company, which said it plans to increase its production of amplifiers for use in 3G mobile phones, tablets and datacards.

North Bridge partner Basil Horangic said, “The team at Black Sand has performed impressively over the last 24 months, not only successfully productizing the silicon power amplifier concept, but also achieving significant market traction.

“We’re delighted to continue our association with John Diehl and his team, as they move forward to even further success in the coming months.”

North Bridge has helped create more than 150 early-stage companies over the past 20 years, while Austin Ventures has $3.9bn under management across ten funds.

Mr Diehl, CEO at Black Sand, said, “The enthusiastic commitment of our shareholders, placing $10m in cash on the balance sheet, is a powerful endorsement of our strategy and our growing success in the market.

“We are already shipping in volume to multiple customers, and this additional investment will allow us to take the company to the next level – in terms of new products and an expansion of the sales and technical team.

“We have demonstrated technology leadership and commercial performance. Our investors have responded to that.”

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