Wednesday, October 15, 2008

Achronix Scores $52M For FPGA Efforts

San Jose-based Achronix Semiconductor said this morning that it has received a first close on a $52M Series B financing round. According to Achronix Semiconductor, it has received $43M of a $52M round, led by Argonaught Private Equity. Existing investors Battery Ventures, New Science Ventures, Easton Capital Investment Group and Entrepia Ventures all participated in the funding. Achronix said the funding will go towards development of its next genration products. Achronix develops FPGA technology which it says provide a 3X increase over traditional FPGA products; the firm is targeting the FPGA products for higher performance applications, such as networking, telecommunications, test and measurement, and encryption. The firm is looking to place itself as an alternative to ASIC technology, which suffers from very long lead times and development cycle, and faster development time but slower performance FPGA technology which typically is not able to meet timing closure and speeds of current networking and telecom requirements. More information »