Xceive raises $16 bn in series E round

BANGALORE, INDIA: Xceive Corp. has announced that the company has raised $16 billion through Series E equity and debt financing. The company is a fabless developer of RF-to-baseband TV tuner ICs.

AVM Capital LP and Scale Venture led the Series E equity funding process which also saw the participation of existing investors. The money raised will be used for product development and the expansion and growth of Xceive Corp.

Xceive said that over 10 million television sets produced for sale in all regions of the world were fitted with its XC5000 multi-standard tuner plus analog demodulator.

In a statement released by the company, President and CEO John Louis Bories said that Xceive had successfully gained the top position in the silicon TV tuner market and that the company was pleased with their investors reinforcing their commitment in the company by funding their growth.