Venture firms line up to back $23.5m eASIC financing round


news_tech_circuitboardA string of venture capital firms have invested $23.5m in semiconductor maker eASIC through a growth financing round.

Khosla Ventures, Kleiner Perkins Caufield & Byers and Crescendo Ventures were joined by Seagate Technology and Evergreen Partners in the round.

eASIC said it would use the funding to fund expansion of its US and European development organisations and for working capital.

Khosla partner Mike Kourey said, “The convergence of eASIC’s unique technology, the demand for mass customization combined with the need for low-cost and fast time to market solutions is creating an unprecedented opportunity for eASIC to emerge as the de facto solution for custom silicon platforms.

“With this growth capital financing, eASIC and its strong leadership team is in a position to fully execute on its strategy and fulfill the demand of its broadening base of customers and platforms.”

Last month ultra-low power integrated circuits provider Ambiq Micro raised $10m in a Series B round led by new investor Austin Ventures.

Existing backers ARM, Mercury Fund and Huron River Ventures also participated.

Ambiq’s technology enables semiconductor products to run at extremely low voltage levels inside the chip, which significantly reduces the power required for chip operation.

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