UK-based silicon chip technology company Celoxica has raised $30 million in fourth round funding from a group of venture capitalists including Cazenove Private Equity and Intel Capital.
The full group of investors includes Advent Venture Partners, the Isis College Fund, Quester Venture Capital Trust and Wind River Ventures. UBS Warburg was sole adviser to Celoxica on the private placement.
“Celoxica has the potential to revolutionise the way digital electronic circuits are designed,” said Tod Bensen, Cazenove Private Equity’s chief executive. This round of investment constitutes one of the largest private equity deals in European software this year.
The company develops new silicon chip designs faster than conventional methods by applying high level software development techniques to hardware design. Celoxica’s latest round of funding will be used to purchase and develop its technologies and deliver them to the marketplace.
Investors have cited Celoxica’s market alliances and partnerships as one of its appealing strengths. These feature tie-ups with Ericsson Radio Systems, Infineon Technologies, Marconi, Matra BAE Dynamics France, Wind River Systems and Xilinx.
Total funding to date amounts to $63 million, valuing the company at an estimated $55 million. It was previously known as Embedded Solutions following its spin-out from Oxford University computer laboratory in 1996.