Cambridge, UK Alphamosaic, the privately owned developer of multimedia processors for mobile phones, has raised $9million of working capital from its existing venture capital investors.
The company launched its VideoCore technology in 2003 and says it has seen a huge ramp-up in demand for its VC01 processor, including a multi million-dollar deal with Samsung.
It is working with a number of mobile phone manufacturers in the Far East and Europe, and a number of phone designs are scheduled for volume production this year as camera phones with multimedia and games become the fastest growing cellular market segment.
The latest funding round was provided by existing investors Doughty Hanson Technology Ventures, Prelude Trust, ACT and TTP Ventures.
Jalal Bagherli, Alphamosaic's CEO said, “This is our second full year of trading and customer demand for our technology is growing month on month, as are our revenues. This additional funding helps the company to strengthen its balance sheet and working capital position and to take advantage of the market upside opportunities.”