Picochip secures funding for expansion

Picochip, a supplier of semiconductors and software for femtocells, has secured $20m (£15.6m) of equity funding to support business expansion plans, having reached its target of one million chip sales.

The company also announced that it is on track to achieve over 50 per cent quarter-on-quarter sequential revenue growth in the current calendar quarter.

As part of its growth plans, Picochip is adding engineers at its development centres in Bath and Beijing, and will move to a new headquarters in Bath, UK.

The plans also include accelerated product development in areas including LTE, HSPA+ and self-organising networks.