ChipVision Closes on $6.4M Series B Round
Investment will be used to expand sales and engineering efforts
Oldenburg, Germany / San Ramon, CA – October, 2006
ChipVision Design Systems, the low power
specialist in electronic design automation, today announced that it has raised
€5 million ($6.4 million) in Series B funding.The Series B round was funded by a consortium of investors that included
ChipVision’s Series A investors, Target Partners and BayTech Venture Capital, both
of Munich, Germany.Funds will be used to further the market
penetration of ChipVision’s flagship product ORINOCO®, to expand
customer support and to bolster the company’s engineering team.
“We have entered an era in which design for low power has become the norm, which plays well to ChipVision’s value proposition”, said Dr. Berthold von Freyberg, Partner at Target Partners. “We believe that ChipVision’s system-level low power software and services will play a critical role in helping their customers meet their low power goals,” added Andreas Demleitner, Partner at Baytech Venture Capital.
“As the leader in the pre-implementation low-power area, we continue helping our customers identify and reduce power bottlenecks as early in the design process as possible”, said Dr. Stanley Krolikoski, CEO of ChipVision.“We shall use the additional funding we have obtained to build upon the momentum we have developed in the low-power market”.
About ChipVision Design SystemsChipVision Design Systems is the leading supplier of low power system-level electronic design automation (EDA) software tools and services.ChipVision’s ORINOCO® software enables semiconductor developers to estimate and optimize the energy dissipation in critical blocks of their design prior to RTL development.The impact of this electronic system-level (ESL) approach is significant energy savings in less time.The company’s solutions are based on open industry standards including SystemC.ChipVision is headquartered in Oldenburg.For more information about ChipVision and its products and services, visit www.chipvision.com.ChipVision is a registered trademark of ChipVision Design Systems.All other trademarks are the property of their respective owners.
About BayTech Venture Capital
Munich-based BayTech Venture Capital, founded in October 2000, is an independent, internationally-oriented venture capital firm. It focuses mainly on early stage financing for high-growth, high-tech companies in Germany, France and other countries across Europe. Targeted investment sectors are information and communications technologies, semiconductors, new media and life sciences. For more information, please visit www.baytechventurecapital.com.
Contact
Andreas Demleitner
andreas.demleitner@baytechventure.com
BayTech Venture
Capital
Phone:+49 (89) 2171-26120
Munich-based Target Partners is a venture capital partnership focused primarily on investments in the IT, communications, renewable energies, environmental technology and media industries. The firm provides equity financing to start-up and early stage companies and supports them during their build-out and expansion phases. With many years of experience as managers, entrepreneurs and venture capitalists, the team at Target Partners supports entrepreneurs in developing and marketing products and services, building organizations, raising funds and taking companies public in Europe and the United States. Target Partners currently manages fund capital of € 112 million. Since 2000 the firm has invested in 17 portfolio companies in the German-speaking countries. For more information, please visit www.targetpartners.de.
Contact
Brigitte Kollmannsperger
brigitte@targetpartners.de
Target Partners
Phone:+49 (89) 2070480