Business Daily from THE HINDU group of publications
Friday, Jul 07, 2006
Business Daily from THE HINDU group of publications Friday, Jul 07, 2006 |
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Info-Tech
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Venture Capital InSilica raises $18m through second round funding Our Bureau
Bangalore , July 6 Fabless semiconductor firm InSilica has raised $18 million in the second round funding from Intel Capital, Flextronics, Crossbow Ventures, Dow Ventures and NewPath Ventures. InSilica expects to utilise the funds to build its IP portfolio further and scale its sales & marketing operations, and engineering team, the company said in a press release. InSilica, an emerging supplier of high-value, high-volume ASIC and standard system-on-chip (SoC) solutions, had raised $10 million in its first round funding. The company still intends to maintain a strategic focus on customers who will gain key competitive advantages through InSilica resulting in recurring longer-term business relationships than typical in the customised SoC and ASIC segments.
Cost effective
"InSilica has proven it's ability to win and deliver on designs that are pushing the specification limits of what the multitude of typical standard ASIC companies can provide, and we are doing this more cost effectively and with faster time to market," said Mr Balaji Baktha, President and CEO of InSilica Corporation. "This major financial commitment by key industry players is both a validation of the significant value we provide to our customers, and to our confidence we can scale to have a much broader impact on the industry," he said.
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