i-Pod chipster gets $42m funding

Music to its investors' ears...

PortalPlayer, the company which makes chips for digital media players such as Apple's iPod, has raised $42m in its last round of funding before a stock market launch. J.P. Morgan Partners, Investcorp International and Shamrock Capital Advisors were the lead investors in the round, which brings PortalPlayer's total funding to $80m. The company makes single-chip music platforms and accompanying software for customers including Apple. This is to be the company's last round of funding before an IPO. However, there is no set date for its stock market launch.