YOGITECH raises one million Euros in early stage venture capital financing from Toscana Venture
The financing will be invested in the technology development of a platform for the reliability of Fault-Robust System-on-Chip for the automotive marketPisa, Italia - June 2, 2005
-- YOGITECH has raised early stage venture capital financing from Toscana Venture of SICI. (Sviluppo Imprese Centro Italia).
The One Million Euros investment will support the first phase of the commercial and technological development of a new leading technology. A platform that due to a system-level approach will allow the implementation of Fault-Robust System-on-Chip compliant with IEC 61508 standard requirements, the international standard for functional safety of electrical, electronic and electronic-safety related systems.
"YOGITECH invested strategic resources and expertise in the fields of Robustness and Safety and the raised capital will allow YOGITECH to boost the development of our innovative patented approach.
This is complementary to the current products portfolio and offer, therefore it will also strengthen YOGITECHs commitment to the current business units." Says Silvano Motto, CEO of YOGITECH.
This solution will be introduced from the second half of 2005, starting from the automotive industry and later on to be introduced into other sectors making use of nanometer technologies where not only safety but service availability as well, will become a major issue to be addressed. Continues Mr. Motto.
SICI considers the partnership with YOGITECH as one of the most appealing early stage opportunities ever invested said Mr. Abbagnale, President of SICI. We are committed not only to participate to the most challenging global competition, but also to seed our territory with wealthy initiatives.
SICI has been very careful in evaluating our proposition, says Gabriele Orlandi, CFO of YOGITECH. Therefore, we are sure to have now a fully committed financial partner for the deployment of our mid-term plans.
Mr. Ulivagnoli, Private Equity Manager of Banca CR Firenze, is keen to represent SICI at YOGITECHs Board: I see YOGITECH as a high potential outsider worth to be financially supported on the ground of its business credibility and realistic goals. ABOUT YOGITECH
YOGITECH is a company with proven experience in System-on-Chip design & verification and in fault-tolerant integrated circuits.
Founded in 2000, YOGITECH is leveraging a unique expertise in Specman Elite. Sponsor Member of OCP-IP, YOGITECH is Tier 1 Partner in Europe of Verisity (Cadence) and ARM Technology Access Partner.
YOGITECH offers a catalogue of eRM e Verification Components (eVCs), to shorten time-to-production of IPs and systems based on standard protocols, like ATAPI, CAN and LIN. YOGITECH's products portfolio includes OCP 2.0 eVC, the only complete solution for verifying OCP systems, successfully adopted by major semiconductor companies in Europe, US and Asia.ABOUT SICI
SICI is a private equity player owned, among the other, by highest profile banks headquartered in Tuscany such as Banca CR Firenze and Banca MPS. Funds under management are around 90 million.
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