$28-million investment

Wireless audio chipmaker Kleer Kleer.JPGSemiconductor raises US$28 million in Series-B financing, which will be used to broaden market reach. The Cupertino, Calif. company, which has major operations in Ottawa, reports that the funding came from new investors TL Ventures, based in Pennsylvania, BDC Venture Capital, and existing backers US Venture Partners and Toronto’s VenGrowth. Kleer’s main product allows up to four users with wireless headphones to listen simultaneously to the same music, while providing CD-quality audio and increased battery life. The technology is currently found in products by audio electronics giants Sennheiser and RCA. The company says it is at this time working with 25 original equipment manufacturers on more than 30 products that will be available in 2008.

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