Monday, June 11, 2007

WiQuest Raises $28M in Series C Funding

WiQuest Communications Inc., a fabless semiconductor manufacturer of wireless networking components, announced Monday that it has concluded its Series C funding round after generating $28 million in financing. WiQuest said the oversubscribed effort included $23 million in private equity funds and another $5 million in growth capital. Adams Street Partners, the D.E. Shaw Group and TriplePoint Capital led the round, with existing investors Sequoia Capital, Menlo Ventures, Palomar Ventures and iD Ventures America also participating. WiQuest added that it will use the funds to develop next-generation products and to increase production. Founded in 2003, WiQuest Communications is headquartered in Allen, Texas. More information »