News Article
eASIC raises $48 million in latest financing round
The company raises largest round to date to fund product deployment, customer support and next generation product release
eASIC Corporation, a provider of zero mask charge ASIC chips, announced it has raised $48million in late stage financing. The financing round was lead by Advanced Equities Incorporated. Also participating in the round were previous investors Khosla Ventures, Kleiner Perkins Caufield and Byers, Crescendo Ventures and Evergreen Venture Partners. The eASIC Chief Financial Officer, Craig Klosterman, also invested in this round.
“Our investment in eASIC builds upon our successful strategy of maximising late stage investments in companies with innovative technologies capable of disrupting large markets,” said Keith Daubenspeck, Co-Founder and Chairman of Advanced Equities Financial Corp. “Since first engaging with eASIC, we have been extremely impressed by the rapid proliferation of their game changing products across many applications and market segments.”
eASIC's patented silicon technology offers chip designers a family of zero dollar mask charge, no minimum order ASIC devices combined with a rapid design cycle and only a four week silicon turn around time. eASIC has design wins and customers in a wide variety of applications such as portable video devices, cell phones, wireless base stations, routers, gateways, video surveillance, digital displays plus others.
“Khosla Ventures was an early investor in eASIC and is delighted to see the promise of this disruptive technology become a reality. eASIC is ushering in a new era of affordable silicon customisation,” said Vinod Khosla, Founder and General Partner, Khosla Ventures. “We are looking forward to the next stage of this company and the very exciting impact that it will have in the traditional custom logic market.”
“We are pleased to add Advanced Equities to the visionary investors that were able to accurately predict the inflection point in the $80B custom logic market, where costs have become prohibitive to mass silicon customization,” said Ronnie Vasishta, President and CEO of eASIC Corporation. “Our Nextreme product is winning designs in the traditional standard cell ASIC, the Application Specific Standard Product (ASSP) and the FPGA markets. Our customers range from large multi nationals to small startups. We are also encouraged to see Craig Klosterman invest, as he has a track record of picking winning companies.”
