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Electronics Production | February 06, 2007

Nokia financing investment in Summit

Summit Microelectronics has announced that Nokia Growth Partners has led a growth financing investment round in the company.
The $10M round includes Nokia Growth Partners contributing $4M, with existing investors Norwest Venture Partners, August Capital, Pequot Ventures, Bessemer Venture Partners, Hotung Capital Management and others contributing $6M.

"Mobile phones no longer just make voice calls, but connect to the Internet and act as our mobile camera, music player, navigation device, and even our mobile television. This growing functionality raises the importance of power management. Nokia Growth Partners is pleased to lead this investment round. Summit has assembled a world-class team specializing on these issues and has built unique products to help meet the rising power performance demands of mobile device manufacturers," said Rob Trice, of Nokia Growth Partners.

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