Fremont, Calif. – Quantenna Communications, a Fremont-based developer of Wi-Fi video networking technology used in whole-home entertainment, said on Tuesday it has raised $79 million in a new round of funding, led by Russia’s Rusnano.
Another new investor, Bright Capital, as well as previous backers Sequoia Capital, DAG Ventures, Grazia Equity, Sigma Partners, Southern Cross Venture Partners and Venrock Associates also participated in the round.
Rusnano will invest up to $40 million and Sequoia Capital Growth Fund will contribute $20 million.
Quantenna said it will use the funding to expand its engineering and service organizations in order to support the growing list of service providers deploying its chipsets.
“Our video-over-Wi-Fi chipsets are on their way to penetrating new markets this year beyond the service provider segment,” said CEO Sam Heidari. “The round also enables us to expand our presence in Russia with the addition of a team of highly qualified specialists.” Quantenna said it will open a Russian subsidiary.
This article was also published in Bay Area Tech Wire.
Quantenna Communications – official site
Rusnano – official site
Quantenna – press release