Magnolia Broadband, a start-up based in Clinton, New Jersey, raised $11 million in new funding for its “DiversityPlus” – based radio frequency integrated circuit (RFIC) chipset. Magnolia Broadband provides an antenna diversity solution for the wireless industry. The company said its design incorporates a novel way of combining RF signals from two antennae for both transmit and receive signals in the mobile terminal, enabling carriers to serve twice as many subscribers within the same wireless infrastructure while boosting phone coverage, data rates and battery performance.
The round was co-led by SCP Private Equity Partners, ECentury Capital and DFJ Gotham Ventures. This financing brings the total equity investment in Magnolia to approximately $28.5 million since its founding in late 2000. http://www.magnoliabroadband.com
