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TMCNet:  BRIEF: Avnera regulatory filing suggests $3.7 million in fresh backing

[February 12, 2013]

BRIEF: Avnera regulatory filing suggests $3.7 million in fresh backing

Feb 11, 2013 (The Oregonian - McClatchy-Tribune Information Services via COMTEX) -- Avnera Corp., a Beaverton company that makes computer chips for headphones and other consumer audio gadgets, said in a regulatory filing today that it has raised $3.7 million toward a $4.7 million investment round.

The company had already raised at least $62 million in prior backing, some from venture capitalists and some through investments by its strategic partners. Today's filing describes the investment as "Series E Preferred Stock and Series E Preferred Stock Purchase Warrants." Best Buy, Sony, Logitech, Panasonic, Samsung and others have licensed Avnera's technology for use in their own products.

After a tepid 2012, Oregon companies have raised venture capital at a torrid pace this year. Janrain, Puppet Labs and Urban Airship each announced large venture rounds, and chatter within the startup community is that some younger companies have nearly completed smaller rounds.

Founded in 2004, Avnera is led by Manpreet Khaira, a former Intel engineer who also ran a company called Mobilian Corp. -- which Intel bought in 2003. Avnera did not immediately return messages inquiring about today's filing.

-- Mike Rogoway; twitter: @rogoway; phone: 503-294-7699 ___ (c)2013 The Oregonian (Portland, Ore.) Visit The Oregonian (Portland, Ore.) at www.oregonian.com Distributed by MCT Information Services

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