Chipidea secures $6.6M in series C funding

By Suzanne Deffree -- Electronic News, 1/2/2007

Analog and mixed-signal player Chipidea has closed a series C funding round for a total of $6.6 million (5 million Euros) from sole investor Fundo de Capital de Risco para Investidores Qualificados ES Ventures II (ESV), a fund managed by Espírito Santo Ventures, a leading Portuguese private equity company within the BES Group.

Lisbon, Portugal-based  Chipidea said it plans to use the proceeds to further expand its business and pursue targeted strategic acquisitions to strengthen its worldwide R&D capabilities. No further details on the company’s plans were given.

“We are delighted to welcome ESV as partner to Chipidea,” José Franca, Chipidea’s co-founder and CEO, said in a statement. “This investment will enable us to consolidate our leadership position in the analog and mixed-signal market.”

Founded in 1997, Chipidea employs more than 260 people in offices across Europe, Asia and North America. In July 2006, the company extended the breadth of its existing relationship with Singapore-based foundry Chartered Semiconductor Manufacturing to offer analog/mixed-signal IP on common platform technology at 65nm.