WiMax chip maker raises $12.1M in first round

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Saratoga, CA-based ApaceWave Technologies raised nearly $12.1 million in its first round of venture capital. Backers of the broadband wireless solutions provider include Venrock Associates, DCM-Doll Capital Management, WK Associates and the Fortune Consulting Group of Taiwan. ApaceWave is expected to start production of its WiMax chips by the end of the year, with volume shipments slated to begin in 2007.

For more on ApaceWave's first round:
- check out this article from DigiTimes