Santa Clara, Calif. -- Beceem Communications, a Santa Clara-based maker of mobile WiMAX chipsets, said on Wednesday that it has raised more than $40 million in its fourth round of funding, led by Teachers' Private Capital. New investor NEC and all of the company's previous investors also participated. Beceem said that it will use the proceeds to invest in new product initiatives and strengthen its development capabilities. The three-year-old company has had little trouble drawing interest from investors, landing $20 million in its third round in late 2005 before landing a "substantial" investment from Intel Capital last March.
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