Soft modem company Icera secures $12 million debt facility with Silicon Valley Bank

Last time we talked about Icera, they raised $45 million in additional funding. Obviously that wasn’t enough as they announced successful completion of a $12 million debt facility with Silicon Valley Bank, which is the commercial banking division of SVB Financial Group.

The financing consists of a $4 million three-year term loan and a two-year $8 million working capital line of credit, which Icera will use to accelerate growth in the smartphone market and “extend its global capabilities.”

Icera was founded in 2002 and backed by a top tier European Venture Capital syndicate that includes Accel Partners, Amadeus Capital Partners, Atlas Venture, Balderton Capital and DFJ Esprit. It is specialized in the design, production and sales of soft modem chipsets for cellular products like smartphones, tablets and USB sticks.

Earlier we reported Icera enabled 21Mbps HSPA on USB modems through software upgrade. Moreover, we’ve also talked about their dual-mode LTE/HSPA modem which at that time was the world’s first such product…

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