Lake Forest-based Newport Media Inc., a designer of chips for watching TV on phones and other handheld devices, has raised $30 million in a third round of funding.
The round brings Newport Media’s total money raised to $66 million.
New investor Duff Ackerman & Goodrich LLC led the funding.
Newport Media started in early 2005 and is headed by Chief Executive Mohy Abdelgany, who previously worked at the local operations of Massachusetts-based Skyworks Solutions Inc. and Newport Beach’s Conexant Systems Inc.
The company recently came out with a mobile TV receiver chip for phones and other devices that Newport Media says uses less power than others. Phones with the chip are expected next year.
The latest financing “enable us to ramp volume production to our customers while expanding our product portfolio,” Abdelgany said.
