News and New Products

IP Provider Sonics Secures $20M in Series C Financing

Online staff -- Electronic News, 1/14/2002

Sonics Inc. today announced it has closed $20 million in series C financing, which included an investment from Lehman Brothers. Smart Technology Ventures led new and previous Sonics investors in the private equity round of financing.

Mountain View, Calif.-based Sonics is a privately held semiconductor IP provider. The company develops systems, dubbed MicroNetworks, for plug and play integration of semiconductor IP cores into system-on-a-chip (SOC) designs.

"With customers completing their complex system-on-a-chip (SOC) designs in less than half the time, then generating derivative chip designs in only 60 days, we can't help but believe that the accelerating adoption of Sonics solutions will quickly make them pervasive across the industry," said David Nazarian, founder and managing member at Smart Technology Ventures.

Lehman Brothers also acted as agents for the round. New investors included Smart Technology Ventures, Easton Hunt Capital Partners, Spinnaker Ventures, Omninet Capital, LLC, Newlight Associates and Pacesetter Capital Group. Prior investors increasing their investments included Investar, Jafco, and H & Q Asia Pacific.