RedMere set for $6m funding and plans US rollout soon

Chip design company finds a new market in home theatre products, writes Dick O’Brien

21st November, 2009

Chip design firm RedMere is close to finalising a new $6 million (€4 million) fundraising round, and expects to have its product on sale across the United States during the first quarter of next year.

Chief executive Peter Smyth said the company was in talks with investors and expected to announce the closure of the funding before the end of 2009. Smyth said he could not name the participants in the round before the deal was signed.

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