Sequans Secures $28M

Paris-based SEQUANS, a provider of fixed and mobile WiMax chips, said today that it has raised an additional $28M in a combination of equity and convertible debt. Funding came from Swisscom and Reliance Technology Ventures LImited; the investment also included participation by CDC Enterprises. The convertible debt came from NATIXIS. Sequans operates its U.S. headquarters in Cupertino. The firm said the funding is expected to carry the firm until it is ready for an IPO. More information »