Clear Logic raises another $10.5 million
Clear Logic raises another $10.5 million
By Crista Souza, EBN
December 19, 2001 (6:17 p.m. EST)
URL: http://www.eetimes.com/story/OEG20011219S0050
Although the legality of its technology is being challenged, Clear Logic Inc. continues to win the confidence of investors. The San Jose company, which offers a process for converting Altera Corp.'s programmable logic devices into low-cost ASICs, today said it has closed a deal for an additional $10.5 million in funding, in the form of debt financing through a private placement. The debt offering was placed with Clear Logic's existing shareholder base, which includes Integrated Device Technology Inc., J. & W. Seligman and Co., Berg and Berg, Adam Smith and Co. interests, Silicon Valley Equity Funds, and Clear Logic management. Last year, Clear Logic raised $12 million through equity financing. "We would expect a final, smaller round to be sufficient next year to take us to cash flow breakeven," said chief financial officer, Mike Gumport, in a released statement. Clear Logic develops and markets pin-compatible ASICs transferred from Alter a-based FPGA designs. The conversion process uses the customer's bitstream to replicate the FPGA's functionality and pin-out in a smaller silicon area. The bitstream-based conversion technique is the subject of a 1999 lawsuit by Altera, San Jose, which claims Clear Logic is infringing its chip design technology. The suit is still pending a trial date in a San Jose federal court. Meanwhile, Clear Logic recently received a patent for the technology, which it claims predates Altera's own FPGA-to-ASIC conversion technology.
Related News
- Flex Logix Raises $5 Million In Series B Funding
- Orca Systems Raises $5 Million in Series B Funding Round
- Sidense Raises $5 million in Venture Capital to Expand Product Development
- Tiempo, IP company with breakthrough ultra-low power asynchronous design technology, raises 5 million Euros ($7 million) in Series B funding
- Microbridge Completes $5 Million Extension Round of Funding From an International Syndicate of Investors, Raises $12.5 Million to Date
Breaking News
- Thalia's AMALIA 24.2 introduces pioneering estimated parasitics feature to reduce PEX iterations by at least 30%
- TSMC plans 1.6nm process for 2026
- Qualitas Semiconductor Partners with TUV Rheinland Korea to Enhance ISO 26262 Functional Safety Management System
- M31 has successfully launched MIPI C/D PHY Combo IP on the advanced TSMC 5nm process
- Ceva multi-protocol wireless IP could simplify IoT MCU and SoC development
Most Popular
- Controversial former Arm China CEO founds RISC-V chip startup
- Siemens collaborates with TSMC on design tool certifications for the foundry's newest processes and other enablement milestones
- Credo at TSMC 2024 North America Technology Symposium
- Synopsys Accelerates Next-Level Chip Innovation on TSMC Advanced Processes
- Kalray Joins Arm Total Design, Extending Collaboration with Arm on Accelerated AI Processing
E-mail This Article | Printer-Friendly Page |