Chip Startup Ditrans Raising About $20M
Irvine-based Ditrans Corp. is near closing $20 million to $25 million in follow-on funding to a $15 million round raised in November, according to the startup chip designer’s chief executive.
The money is set to come from Menlo Park’s U.S. Venture Partners, Kansas City Equity Partners and San Jose-based Cadence Design Systems Inc., which all took part in Ditrans’ November funding.
Ditrans, which designs chips and contracts out for their production, develops digital transceivers and receivers for wireless phones, according to Chief Executive Mark Chapman.
The company’s products are capable of handling multiple frequencies and take up a small amount of space in a phone, he said.
The extra funding should see the company to profitability, with about $5 million to spare, according to Chapman.
“This funding should be able to help us tie it all together, with some cushion,” he said.
The company has no plans for a public offering right now, he said.
Ditrans has 37 workers and expects to have 50 by the end of the year. The company plans to be in production by the end of the year.
,Andrew Simons
