InSilica Announces Closure Of US$18m In New Financing
InSilica was founded on an Indo-US model where executive and engineering leadership is driven in Silicon Valley by some of the industry's most respected veterans, combined with a highly skilled and scalable India based implementation team.
Kumar Shiralagi, Director, Intel Capital India, commented: "In today's dynamic, fast-paced competitive market, a clear need exists for low power, high-performance customised 'system on chip' solutions."
After initial financing the company spent most of 2004 developing and proving a proprietary design flow and intellectual property base which would enable solutions that are lower power, higher performance, faster time to market, and more competitively priced than typical standard ASIC suppliers are capable of delivering. In 2005 InSilica focused on a select set of target customers who would find critical value in these differentiators. As a result the company has now achieved strategic customer wins in key segments such as mobile phones, high performance networking, high definition video processing, broadband wireless communications and has ramped to high volume production in early 2006. This customer base includes both traditional systems OEMs as well as other fabless semiconductor suppliers.
"This major financial commitment by key industry players is both a validation of the significant value we provide to our customers, and to our confidence we can scale to have a much broader impact on the industry" said Balaji Baktha, President and CEO of InSilica Corp.
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