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Elixent raises another $10M, seeks engineering expansion

Posted: 10 Jul 2003 ?? ?Print Version ?Bookmark and Share

Keywords:elixent? d-fabrix technology? soc device? power consumption?

Reconfigurable semiconductor IP specialist Elixent has closed a second funding round of $10 million with the bulk of the money earmarked to increase engineering employment and accelerate the roll out of the patented D-Fabrix technology to international customers.

"We are looking to bring perhaps half a dozen more design engineers on board, specially people with expertise on the tools side of the business as well as those able to support the customers we already have with integrating our IP into their devices," said marketing manager Ralph Weir.

Weir would not name which customers Elixent has already signed up. The company currently employs 30 people.

Elixent's first round in October 2000 raised $14 million, mainly from venture capital group 3i and industry backers Actel and Hewlett Packard. The current round was led by new investors GIMV and NIF Ventures, with 3i also participating.

Elixent develops low-power reprogrammable SoC devices used to reduce the power consumption in products requiring post-fabrication algorithm changes. Examples include imaging and communications applications for the consumer and industrial markets, including mobile phones and battery powered multimedia players.

"The commercial progress we have made in the last year and the interest in our technology from major, high-profile international companies led us to seek additional funding in order to accelerate our product development and pace of engagements," said Kenn Lamb, Elixent's CEO.

- John Walko

EE Times

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