Silistix is no more in business
Oversubscribed Round Demonstrates Investor Confidence in Company's Self-Timed Interconnect TechnologySAN JOSE, CA -- Jan 15, 2007
-- Silistix, a provider of innovative software and related circuit designs for on-chip communications solutions, today announced that the Company has raised approximately $6M in a final closing of its Series A financing round. The Series A round was oversubscribed, validating the investment community's belief in the importance of Silistix self-timed on-chip interconnect technology as a key enabler of future system-on-a-chip (SoC) silicon products.
Silistix' CHAINworks is a suite of software tools for the design and synthesis of customized on-chip interconnects using self-timed (asynchronous) circuits. Increasingly, such on-chip interconnect structures are referred to as Network on Chip (NoC) solutions. The innovative and practical Silistix NoC approach overcomes many of the problems associated with the current synchronous approach to chip design, including those relating to timing closure, power consumption, design complexity and product time to market.
"I'm very pleased to have a strong and supportive group of professional venture capital investors participating in this round of funding," said David Fritz, Silistix CEO. "The addition in the final closing of Partnerships UK to our investor team is yet another vote of confidence in the Silistix management team, technology and products. We are now in a very strong financial position as we prepare for future business growth."
The investor group in the first closing comprised Intel Capital; British Smaller Technology Companies VCT2 plc; The North West Business Investment Scheme; Seven Spires Investment; and The Manchester Technology Fund. Joining this group in the final closing is Partnerships UK. Elaine Loukes, Investment Director of Partnerships UK, will be joining Silistix' Board of Directors.
Dr. Loukes said, "Silistix has made excellent progress both technically and commercially in developing its ground-breaking software and we are delighted to back David and his team in taking the company forward. We are continually seeking to invest in world-class companies emerging from the UK science base and we believe Silistix represents an excellent example of such technology."About Silistix
Silistix is a venture-funded spin-out of the University of Manchester, UK, with offices in San Jose, California, Manchester, England and Tokyo, Japan. The company's focus is on the development and deployment of EDA tools and IP for the design of self-timed on-chip interconnect. For more information call 408-878-6098 or visit www.silistix.com
.About Partnerships UK
Partnerships UK (PUK) invests in high-growth opportunities which have emerged from the UK public sector, or have received significant UK public sector financing. PUK has a £25m fund to invest in early stage technology companies, mature public sector assets or in funds which focus on such areas. For further information please visit the company's website at www.partnershipsuk.org.uk