Investment Will Be Used to Introduce New Products to the Market Place and Expand Research & Development Efforts
OLDENBURG, Germany & SAN JOSE, Calif.-- May 16, 2008 --ChipVision Design Systems, the low-power specialist in electronic design automation (EDA), today announced it has raised $4.5 million in a Series B internal round led by Target Partners and BayTech Venture Capital, both of Munich, Germany. Known for its breakthrough power optimization design tools, ChipVision will use the funds to introduce its newly announced PowerOpt™ and P-SAM power optimization design tools to market, and to further its research and development efforts.
Dr. Berthold von Freyberg, Partner and co-founder at Target Partners, said, “The rapid proliferation of mobile and wireless applications has mandated the need for energy dissipation. ChipVision – with its focus on designing for low power at the system level – is in a unique position to help customers meet their low power goals.”
Andreas Demleitner, Partner at Baytech Venture Capital, added, “ESL is the fastest-growing segment of the EDA industry. ChipVision’s ESL power optimization solutions deliver the kind of productivity improvements that companies value and need.”
Thomas Blaesi, CEO at ChipVision, commented, “Our recently announced PowerOpt and P-SAM products make development far more cost-effective and less risky because they let companies evaluate performance, area and power tradeoffs early, at the architectural level. Our approach helps companies reduce their pre-RTL energy needs by up to 75 percent, get power-optimized RTL 60 times faster than with lower-level methods, and investigate various system design alternatives to achieve the best power management strategies. We are pleased that Target Partners, Baytech Venture Capital and our other investors value ChipVision’s R&D efforts and resulting unique products that deliver significant savings through optimized power management.”
About Target Partners
Munich-based Target Partners is a venture capital partnership focused primarily on investments in IT, the Web, media, semiconductors, telecommunications, alternative energies, environmental technologies, and micro- and nano-technologies. The firm provides equity financing to start-up and early stage companies, and supports them during their build-out and expansion phases. With many years of experience as managers, entrepreneurs and venture capitalists, the team at Target Partners supports entrepreneurs developing and marketing products and services, building organizations, raising funds and taking companies public in Europe and the United States. Target Partners currently manages fund capital of €174M. For more information, please visit www.targetpartners.de.
About BayTech Venture Capital
Munich-based BayTech Venture Capital, founded in October 2000, is a European venture capital firm that helps entrepreneurs build successful companies in their fields of expertise. It focuses on early stage financing for high-growth, high-tech start-up companies primarily in Germany and France, in the areas of communications, software, semiconductors, internet-enabled businesses, medical technology and biotechnology. Its support includes broad experience in building companies, solid industry expertise, and an extensive worldwide network. For more information, please visit www.baytechventure.com.
About ChipVision Design Systems
ChipVision Design Systems is the leading supplier of low-power system-level EDA software tools and services. Its patented software enables semiconductor developers to estimate and optimize energy dissipation in critical blocks of their design; the software interactively creates RTL code optimized for power, performance and area. This electronic system-level (ESL) approach results in significant energy and time savings. The company’s solutions are based on open industry standards including SystemC. ChipVision is headquartered in Oldenburg, Germany, and has offices in Munich and San Jose, Calif. For more information about ChipVision, its products and services, visit www.chipvision.com.