Ultra low-power 2.4 GHz transceiver for Bluetooth Low Energy 5
eASIC Raises $23.5M of Growth Capital
Financing to fund global expansion and fulfill fast-growing product demand
Santa Clara, CA – September 9, 2013 – eASIC® Corporation, a leading provider of Single Mask Adaptable ASIC™ devices today announced that it has closed a $23.5M growth capital financing. The funding includes investment from Khosla Ventures, Kleiner Perkins Caufield and Byers, Crescendo Ventures, Seagate Technology and Evergreen Partners. eASIC® will use the capital to fund expansion of its US and European development organizations and to provide working capital associated with the fast-growing demand for its Single Mask Adaptable ASIC devices.
"eASIC has become the go-to provider for cost effective, mass customization devices", said Ronnie Vasishta, President and CEO of eASIC. "Our success in wireless infrastructure and the storage market, coupled with several new key design wins in the high-volume automotive market drove the targeted $20M round to be oversubscribed to $23.5M. This significant funding by leading venture firms and a strategic partner positions us well to expand our development and customer organizations as we execute on our recent wins and broad customer pipeline."
"The convergence of eASIC’s unique technology, the demand for mass customization combined with the need for low-cost and fast time to market solutions is creating an unprecedented opportunity for eASIC to emerge as the de facto solution for custom silicon platforms", said Mike Kourey, a Partner at Khosla Ventures. "With this growth capital financing, eASIC and its strong leadership team is in a position to fully execute on its strategy and fulfill the demand of its broadening base of customers and platforms."
About eASIC
eASIC® is a fabless semiconductor company offering breakthrough Single Mask Adaptable ASIC™ devices aimed at dramatically reducing the overall cost and time-to-production of customized semiconductor devices. Low-cost, high-performance and fast-turn ASIC and System-on-Chip designs are enabled through patented technology utilizing Via-layer customizable routing. This innovative fabric allows eASIC to offer a new generation of ASICs with significantly lower up-front costs than traditional ASICs.
Privately held eASIC Corporation is headquartered in Santa Clara, California. Investors include Khosla Ventures, Kleiner Perkins Caufield and Byers (KPCB), Crescendo Ventures, Seagate Technology (NASDAQ:STX) and Evergreen Partners. For more information on eASIC please visit www.easic.com.
|
Related News
- AI Chip Company Syntiant Raises $55 Million to Accelerate Growth
- Blu Wireless raises $16.6 million in growth funding round for 5G applications
- Valens Raises $60M to Boost Growth, Innovation in Automotive Industry
- Netspeed Raises $10M in Series C Funding Led by Intel Capital to Bring Machine learning to SoC design and architecture
- Aquantia Raises $37 Million in Growth Capital Targeting the Billion Ethernet Port Opportunity in Data Center & Enterprise
Breaking News
- Packetcraft Delivers Bluetooth Software Enabling Channel Sounding to Early Access Licensees
- QuickLogic Releases Aurora 2.6 with Expanded Operating System Support and Up to 15% Faster Performance
- Rapid Silicon Introduces Revolutionary Rapid eFPGA Configurator for Hassle Free Embedded FPGA Evaluation
- Silvaco Announces Launch of Initial Public Offering
- Rambus Reports First Quarter 2024 Financial Results
Most Popular
E-mail This Article | Printer-Friendly Page |