Semiconductors fabless Dune Networks has wrapped up a massive $24 million first financing round.

The company, which designs chips for communications platforms, secured financing from Pitango, Jerusalem Venture Partners and Aurum-SBC Ventures, which led the round.

Alta Berkeley Venture Partners and the British fund Elwin Capital Partners also participated.

Dune was established in 1998 by Eyal Dagan, an expert on developing routing solutions for communications networks. He also co-founded Charlotte's Web.

Dune will be using the funding to aggressively pursue its development and marketing goals, it said.

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