Peter Clarke, EETimes
(02/03/2005 5:30 AM EST)
LONDON — Arteris SA (Paris, France), a startup developing network on chip (NoC) intellectual property, has been approved to receive 1.5 million euro (about $1.95 million) support from Anvar towards a 4.2 million euro (about $5.5 million) research program. Anvar is a French agency that operates under the aegis of the Ministries of Industry, SMEs and Research.
Arteris said it would use the interest-free loan to expand its research and development efforts and support market introduction of its products.
"This interest-free loan will enable us to accelerate our development efforts and build a strong team to support the technology we are bringing to market," said Alain Fanet, founder, president and CEO of Arteris, in a statement.
The funding follows an initial round of investment totaling 10 million euros (about $13 million) from well-known technology venture capital firms last year and other sources. The company currently has 30 employees in its Paris headquarters.
The Paris-based company was founded by semiconductor industry veterans and is backed by an international set of venture capitalists. Arteris has raised more than $12 million in early funding from an international set of venture capitalists, including Crescendo Ventures, Techno Venture Management and Ventech.