Semiconductor Design Company Closes 2nd Round Financing
Munich, Germany: 6 May 2003. Xignal Technologies, a leading Intellectual Property (IP) solutions provider for the semiconductor industry, today announced that it has closed a second round of funding for a total of €10 million. The round was jointly-led by Baytech Venture Capital and Atila Ventures / ETV Beteiligungs GmbH, with follow-on investment from existing backers Benchmark Capital and Star Ventures. In addition to completing and extending Xignal's product portfolio the funding will be used to drive worldwide sales and business development activities in Europe the US and South East Asia, as the company moves into its growth phase.
Xignal had previously raised $7 million in December 2000 from Benchmark Capital and Star Ventures. Xignal was set up in Munich in 1999 by Yousif Ammar, Miki Moyal and Martin Groepl, previously at Infineon. Xignal aims to become a world-leader in the rapidly emerging market for analog and mixed signal semiconductor IP design solutions, which according to the Semiconductor Industry Association, will be a $1 billion opportunity by 2006.
Andreas Demleitner of Baytech Venture Capital, said: "We are excited to invest in a world class team of semiconductor designers who have proved that they are able to implement functionality in CMOS that was previously possible only in silicon germanium. This technological advance is going to allow a much greater integration of semiconductor designs".
Roland Dennert of Atila Ventures, said: "In an industry environment where semiconductor manufacturers are struggling to create differentiating semiconductor designs in a cost effective manner, the chances of establishing a leading mixed signal/analog IP provider like Xignal are excellent".
Yousif Ammar, CEO of Xignal said, "This second round funding is a real validation of our business strategy, and the exceptional quality of our team and performance. As we move into the sales and business development stage of the business, this funding allows us to drive our presence in the US and South East Asia, helping us to rapidly grow to a significant position in our sector."