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Intel backs VeriSilicon as firm raises $13.5 million

Posted: 19 Aug 2005 ?? ?Print Version ?Bookmark and Share

Keywords:asic design? verisilicon holdings?

VeriSilicon Holdings Co. Ltd, a full service fabless ASIC design company in Shanghai, China, has said it has raised $13.5 million in its Series B financing.

The company said it would use the money to expand its R&D and its existing engineering and ASIC operations internationally. VeriSilicon currently has operations in Silicon Valley, U.S.; Shanghai, China; Taipei, Taiwan; and Tokyo, Japan.

New investors included Intel Capital, HSBC Private Equity (Asia) Ltd., CID Group, Legend Capital, KTB/UCI, International Finance Corporation. Existing investors comprised WI Harper Group, IDG Technology Venture Investment, iGlobe Partners, and Harbinger Ventures.

The Series B round brings the total amount of venture funding invested in VeriSilicon to $20 million since the company's inception in 2001.

"VeriSilicon's mission is to increase efficiency and lower the cost of system-on-a-chip (SoC) ASIC design and manufacturing for worldwide customers through a flexible business model and innovative technologies," said Wayne Dai, president and chief executive officer of VeriSilicon, in a statement. "The new round of funding will allow us to accelerate the development of our foundation technologies for 0.13?m and below and to expand our IP portfolio and SoC turnkey service offerings worldwide."

"Full service fabless design is an important part of the semiconductor ecosystem and an area of both technology and business model innovation," said Duane Kuang, director of the Intel Capital China Technology Fund, in the same statement. "Our investment in VeriSilicon is another example of Intel Capital's commitment to support the growth of the domestic semiconductor industry in China."

- Peter Clarke

EE Times

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