TANJA AITAMURTO | APRIL 7TH, 2008
SiBEAM, a company developing technology to stream high definition video more quickly than any existing technology, has raised $40 million in third round of funding.
The financing was led by New Enterprise Associates. The other firms backing up SiBEAM are Foundation Capital and U.S. Venture Partners.
SiBEAM, of Sunnyvale, Calif., is developing a technology called WirelessHD. The technology helps you move rich, high-definition data like video wirelessly from one gadget to another, such as from your portable digital video camera to you TV. We’ve covered the company earlier.
WirelessHD competes with WirelessUSB and WiFi. Wireless USB transfers data at a speed of 480 megabits a second over three meters, while wirelessHD uses the 60-gigahertz spectrum and works in higher speeds, starting at four gigabits at 10 meters and with the theoretical maximum speeds of up to 25 gigabits a second, as the technology matures. That is more than ten times faster than WiFi solutions. Read more here.