"Frontier Silicon Ltd., a fabless chip company that has produced digital audio broadcast and digital terrestrial television receiver chips, has closed a $28 million venture capital investment round, one of the largest ever secured by a U.K. based chip company.
The money is set to be used to develop a position in mobile digital television, and further develop Frontier's digital radio products, the company said. Frontier claims to have 70 percent of the market for DAB digital radio receiver chips.
ACT Venture Capital is a new investor and led the latest round supported by existing investors including funds advised by Apax Partners, Alta Berkeley and BlueRun Ventures, formerly known as Nokia Venture Partners, and new investor Quilvest. "
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