Israeli Mobile TV Chip Company Raises $24 million in Series D Round

 Siano Mobile Silicon, a supplier of mobile digital TV receiver chips, has raised $23.5 million in a fourth round of funding.

The round consists exclusively of all of Siano's existing investors: JVP, DFJ-Tamir-Fishman, Star Ventures, Walden Israel, and Bessemer Venture Partners.

Founded in late 2004, Siano develops and markets semiconductor chips for reception of digital TV on mobile, portable and hand-held devices.  Pioneers of the multi-standard approach, Siano's  integrated silicon receiver chips are already being used to power mobile TV in  China, Brazil and Europe.

"Coming out of the global financial crisis around mid 2009, it was clear that the mobile DTV market has shifted gear," s Erel Margalit, Chairman of Siano and Managing Partner of JVP said in a prepared statement; "from China and Brazil to Russia and Korea, the demand for Siano's products has risen at a phenomenal rate, and the investors are happy to provide the company with the proper financial instruments to maximize its growth."

The latest financing round marks the completion of the transition that Siano made in the last year, from a start-up company to an established volume supplier to multiple international brands such as Samsung, Motorola, ZTE, Huawei, Mio, Garmin, Dell and many others,  according to Alon Ironi, Siano's CEO. "The new funds will help Siano solidify this position, build sufficient product inventory to secure vast supply, and in parallel continue to develop new products and penetrate new markets," he said in a statement.