The oversubscribed round was led by Ridgewood Capital and Palisades Ventures. The company plans to use the cash proceeds to increase working capital as it expands production to meet customer needs.
The San Diego, California-based outfit is best known for its Sapphire semiconductor products that are used in a wide range of market segments, including wireless infrastructure, mobile wireless and broadband communications, global positioning system, and military/space applications.
Its products have been used in RF applications, including cellular handsets and base stations, HDTV, TV tuners and set-top boxes, satellites, and military electronics.
