Venture Investment for Chip Path Design Systems

Chip Path Design Systems is a start up company which is privately held and funded. It started its activity last month, in November and it is dedicated to join the electronic design automation and the semiconductor IP. Its headquarters are in South San Francisco, Copertino, California.

George Janac, the CEO and chairman of the Chip Path Design Systems, says that “What I am excited most about is the ability to bring Design Planning into the Architectural and Semiconductor IP age. We can provide a new set of designer benefits, cost reductions and the next revolution in design tools.” The company’s goal is to revolutionize the way companies design the Integrated Circuits (ICs).

This Wednesday, Chip Path Design Systems (CPDS) announced that it raised $3 million in a Series A funding round. The round was led by Scientific Ventures, Lanza techVentures and Xilinx Corporation. The funding was the first so far for the company. Janac said that “We see great opportunities in rolling up IC Design with EDA and semiconductor IP.

With this round of funding we can greatly compress our delivery timeline and we gained a key partner in our quest for ASIC (Application Specific Integrated Circuit) and FPGA (Field Programmable Gate Array) interoperability.” Due to this first round financing, Mark Templeton, the managing partner of Scientific Ventures, will join George Janac in the board of directors at Chip Path Design Systems. Furthermore, the managing partner of Lanza techVentures, Lucio Lanza, will join the board of directors of the company.

The financing made this week will allow Chip Path Design Systems to accelerate the construction of its distribution channels and delivery of the company’s products. Also, Chip Path Design Systems plans to release its products at a very rapid pace within the year of 2011.