Three former Texas Instruments employees founded the company, which develops WiMAX chips.
Sources inform "Globes" that Israeli start-up Altair Semiconductor has raised $8 million in its first financing round. BRM Capital led the found, with Giza Venture Capital and Jerusalem Venture Partners (JVP) also participating.
Altair develops broadband wireless communications semiconductors, including WiMAX chips. Following his fund’s investment, BRM Capital managing director Menashe Ezra will become chairman of Altair.
According to IVC Online, CEO Oded Melamed, chief scientist Yigal Bitran, and VP marketing and business development Eran Eshed founded Altair. All three of them worked previously at Libit Signal Processing, acquired by Texas Instruments (NYSE: TXN) in 1999 for $365 million in cash. They later worked at various positions in Texas Instruments.
Published by Globes [online] - www.globes.co.il - on December 8, 2005