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A Syndicate of Undisclosed Investors Lead $45 Million in Series C Mezzanine Funding Round for Semiconductor Company, Achronix
March 2nd, 2011 No comments
Based in Santa Clara, California, Achronix is a semiconductor company that provides one of the world’s fastest FPGAs. The company has announced on March 1, 2011, that it has raised $45 million in a series C mezzanine funding round that was led by a syndicate of undisclosed strategic corporate investors.
Achronix provides FPGAs, which are a type of semiconductor that uses Intel’s 22 nm technology. This technology allows for more density, cost effectiveness, and efficiency, which is not been generated by many contemporary semiconductor technology. Due to the fact that Achronix uses Intel’s technology for its semiconductors, the company has developed a strategic relationship with Intel for resources and expertise. Some of the applications that the FPGRAs that Intel develops are used for a wide variety of functions, which include internal processing bandwidth, input/output bandwidth, and external memory bandwidth. Some of the systems that use these above mentioned applications include networking, telecommunications, encryption, high-performance computing, and other systems.
The series C funding round that Achronix has received on March 1, 2011, has been one of the largest venture capital backed funding rounds for a privately held semiconductor company in the industry’s recent history.
As far as the investment is concerned, $40 million in the funding round has already been committed and the remaining $5 million will be closed due to the interest of some of the strategic investors who participated in the funding round. The funding from this round will go to help finance the company’s investments in the Intel 22nm technology and to further develop its class of FPGAs that is destined to blow through the current limits of FPGA technology.
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