Ciranova raises $4 million led by new investor AsiaTech
The round was led by AsiaTech Management and that firm's founder, Katherine Jen, will join Ciranova's board of directors. The company's previous investors, Alloy Ventures and US Venture Partners, also participated in the round, which brings Ciranova's total funding to $14.75 million since it was founded in 2002.
The capital will be used to further develop and bring to market Ciranova's innovative suite of products for enabling open and efficient custom chip design. The company plans to introduce new and enhanced products later this year.
"Ciranova's technology strategy positions it in the right place at the right time, and we are pleased to be able to participate at such an important point in the company's evolution. Its vision of true interoperability using open standards will fundamentally change the landscape of custom chip design," said Jen.
"Ciranova is well-run and efficient, and the market opportunity for helping to close the productivity gap between the digital and analogue design worlds is a compelling one. I look forward to contributing to the growth and development of the company."
"We are pleased with the confidence demonstrated by both our original investors, as well as by Katherine and AsiaTech Management. They share with us the vision for how Ciranova can dramatically improve the productivity and efficiency of custom chip design through our open approach to cell generation and migration," said Dan Rubin, chairman of the Ciranova Board of Directors.
"Katherine specifically brings a wealth of business experience, including proven networks in the Greater China region and in the semiconductor manufacturing space, which are two important areas in which Ciranova needs a strong presence. We welcome her to our board and are confident her contributions will be extremely valuable."
