Intellon Corporation Raises $24.5 Million in Financing
Intellon Corporation, the leading provider of HomePlug-compatible IC’s for home networking, networked entertainment and connected powerline applications, recently announced it has raised $24.5 million in new equity financing. The investment was led by BCE Capital, which is affiliated with Bell Canada, Canada's largest communications company. BCE Capital, Goldman, Sachs & Co., Intel Capital and Motorola Ventures joined existing investors Comcast Interactive Capital, Duchossois Technology Partners, EnerTech Capital, Fidelity Ventures, Hydro-Québec CapiTech, Liberty Associated Partners, LP, Philips Venture Capital Fund, TL Ventures and UMC Capital Corporation in the financing round.
Intellon will use the new funds to continue its growth and accelerate the deployment of its next generation HomePlug® AV compatible integrated circuits (ICs). Building on the company’s existing line of HomePlug 1.0 compatible ICs that are already being used on six continents for home networking, broadband over powerline (BPL) and commercial applications, Intellon’s HomePlug AV ICs will enable whole-house distribution of high definition video and digital audio over existing home electrical wiring and coaxial cable, with robust quality of service and tight control of latency and jitter.
“This new round of funding will help Intellon capitalize on the continuing growth of the powerline communications market,” said Charlie Harris, chairman and chief executive officer of Intellon. “We are pleased to add BCE Capital, Goldman Sachs, Intel Capital and Motorola Ventures as new investors in Intellon.”