EDA Startup Nangate Secures $10 Million in Venture Capital
April 30, 2006
EDA firm Nangate has raised $10 million in series A financing from a consortium of investors, including Vaekstfonden, IVS and SEED Capital.
Founded in Oct. 2004, Nangate is developing a tool suite that it says will increase the efficiency of digital CMOS ICs to levels previously only achievable with extensive manual efforts and very large design teams. The company is targeting its range of library optimization tools and solutions at what it describes as the inherent shortcomings of predefined "one-size-fits-all" standard cell libraries.
Nangate employs more than 40 people worldwide, with engineering operations in Copenhagen and Moscow. The company has also established an advanced research division in Porto Alegre, Brazil, and sales and support offices in Silicon Valley.
Ole Christian Andersen, CEO; Tel: 650 215 1178; www.nangate.com.