Contact Information: Media Contacts: Silistix Tom Katherman Tel: 408-833-9311 Email: Email Contact Cain Communications (for Silistix) Jim Lipman Tel: 925-606-1370 Email: Email Contact
Silistix Raises Additional $6M in a Final Series A Closing
Oversubscribed Round Demonstrates Investor Confidence in Company's Self-Timed Interconnect Technology
| Source: Silistix
SAN JOSE, CA -- (MARKET WIRE) -- January 15, 2007 -- Silistix, a provider of innovative software
and related circuit designs for on-chip communications solutions, today
announced that the Company has raised approximately $6M 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 customized 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 prepare for future business growth."
The investor group in the first closing comprised Intel Capital; British
Smaller Technology Companies VCT2 plc; The North West Business Investment
Scheme; Seven Spires Investment; and The Manchester Technology Fund.
Joining this group in the final closing is Partnerships UK. Elaine Loukes,
Investment Director of Partnerships UK, will be joining Silistix' Board of
Directors.
Dr. Loukes 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."
About Silistix
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 408-878-6098 or visit www.silistix.com.
About Partnerships UK
Partnerships UK (PUK) invests in high-growth opportunities which have
emerged from the UK public sector, or have received significant UK public
sector financing. PUK has a £25m fund to invest in early stage technology
companies, mature public sector assets or in funds which focus on such
areas. For further information please visit the company's website at
www.partnershipsuk.org.uk