Funding is One of the Largest Investments Ever Made by a VC Firm in an Oregon-based Semiconductor Company
Beaverton, Ore. – Jan. 12, 2006 – Enuclia™ Semiconductor, Inc., a fabless semiconductor company, has secured $13 million in Series B financing led by Menlo Ventures of Menlo Park, Calif. Arvind Purushotham, managing director at Menlo Ventures, will join the Enuclia board. Sevin Rosen Funds and BA Venture Partners, who co-led Enuclia’s $5.3 million Series A funding in December 2004, also participated in the Series B round.
"We at Menlo are very excited about the highly-differentiated display technology Enuclia has developed, with the capability of outstanding image quality at lower TV set prices," said Purushotham. "Menlo has deep experience in helping visionary leaders transform technical innovations into industry leading companies. Because of Enuclia’s unique display processing architecture and its strong competitive positioning, we fully expect the company to become a leading technology provider in the flat panel TV space."
"We are extremely pleased to add Arvind to our board of directors," said Christian Prusia, co-founder of Enuclia. "Adding Arvind’s and Menlo’s perspectives to our board will greatly help our team to execute as we shift from technology development to product development. The Menlo team has a broad range of experience, especially in helping companies scale their operations to become mature, global organizations. This is precisely where Enculia is headed and we could not have hoped for better partners to ensure our success."
About Menlo Ventures
Since 1976 Menlo Ventures has provided long-term capital and management support to early-stage and emerging-growth companies. Menlo is one of Silicon Valley's oldest venture capital partnerships and has organized and managed ten venture funds since its inception. With over $3.9 billion under management, and a team with over one hundred years of collective experience in technology, marketing, sales, and general management, the firm has the resources to support the most ambitious projects. Menlo recently formed Menlo Ventures X, L.P., capitalized at $1.2 billion. The fund will be invested in emerging growth companies at all stages in the technology sector. Menlo continues its commitment to being a long-term, active partner to visionary entrepreneurs. For more information about Menlo Ventures, please visit www.menloventures.com.
About Enuclia Semiconductor
Enuclia Semiconductor, Inc. of Beaverton, Ore. is developing the next wave of emerging display electronics that will deliver unparalleled image quality, differentiation, and cost savings to the world’s leading manufacturers of flat panel digital televisions. The company’s investors include Sevin Rosen Funds, BA Venture Partners, and Menlo Ventures. At present, Enuclia is in NDA mode concerning the details of its technology and products, but you can visit www.enuclia.com for the latest in news and career opportunities at the company, or direct inquiries to firstname.lastname@example.org.