DGB Microsystems, an Indian mobile device design and manufacturing company, has secured funding of $8.5 million from SIDBI Venture Capital and Clearstone Venture Partners. The stake sold is not disclosed. According to Red Herring, Clearstone has invested $5 million, while SIDBI $3.5 million. This is the first round of funding for DGB, a company founded in 2004.
The Bangalore-based company provides solutions starting from entry-level basic mono GSM and CDMA phones to advanced 3G handsets that are localized for regional requirements, a written statement said.