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SILISTIX RAISES ADDITIONAL £3m IN A FINAL SERIES A, PARTNERSHIPS UK COMPLETES £1m INVESTMENT
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SILISTIX RAISES ADDITIONAL £3m IN A FINAL SERIES A, PARTNERSHIPS UK COMPLETES £1m INVESTMENT
15/01/2007
Partnerships UK, has invested £1m, joining the existing group of investors in supporting Silistix. Silistix, a provider of innovative software and related circuit designs for on-chip communications solutions, today announced that the Company has raised approximately £3m in a final closing of its Series A financing round. The Series A round was oversubscribed, validating the investment community’s belief in the importance of Silistix self-timed on-chip interconnect technology as a key enabler of future system-on-a-chip (SoC) silicon products. Silistix CHAINworks is a suite of software tools for the design and synthesis of customised on-chip interconnects using self-timed (asynchronous) circuits. Increasingly, such on-chip interconnect structures are referred to as Network on Chip (NoC) solutions. The innovative and practical Silistix NoC approach overcomes many of the problems associated with the current synchronous approach to chip design, including those relating to timing closure, power consumption, design complexity and product time to market. “I’m very pleased to have a strong and supportive group of professional venture capital investors participating in this round of funding,” said David Fritz, Silistix CEO. “The addition in the final closing of Partnerships UK to our investor team is yet another vote of confidence in the Silistix’ management team, technology and products. We are now in a very strong financial position as we prepared for future business growth”, he said. The investor group in the first closing comprised Intel Capital, British Smaller Technology Companies VCT, The Northwest Business Investment Scheme, Seven Spires Investment, and the Manchester Technology Fund. Joining this group in the final closing is Partnerships UK. Dr. Elaine Loukes, Investment Director at Partnerships UK – who will be joining Silistix Board of Directors – said : “Silistix has made excellent progress both technically and commercially in developing its ground-breaking software and we are delighted to back David and his team in taking the company forward.” “We are continually seeking to invest in world class companies emerging from the UK science base and we believe Silistix represents an excellent example of such technology,” she said.
NOTES TO EDITORS
About Silistix
1.Silistix is a venture-funded spin-out of the University of Manchester, UK, with offices in San Jose, California; Manchester, England; and Tokyo, Japan. The company's focus is on the development and deployment of EDA tools and IP for the design of self-timed on-chip interconnect. For more information call +1-408-878-6098 or visit
www.silistix.com
2.Press enquiries for Silistix to Tom Katherman on +1-408-878-6098 or e.mail
tek@silistix.com
or Jim Lipman at Cain Communications on +1-925-606-1370.
About Partnerships UK
3.Partnerships UK (PUK) invests in high-growth opportunities which have originated from the UK public sector, or have received significant UK public sector financing. PUK has a £25m (British pounds) fund to invest in early stage technology companies, mature public sector assets or in funds which focus on such areas. For more information contact Elaine Loukes at Partnerships UK on 020 7270 8362 or visit the PUK website at
www.partnershipsuk.org.uk
4. Press enquiries to Malcolm Graves at PUK on 020 7270 5161 or 07785 316773.
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