Teklatech raises $1M

 

Business angels and Vækstfonden invest

Copenhagen, Denmark, June 8th 2009 - Start-up EDA company Teklatech, head quartered in Copenhagen, has completed a US $1M round of funding from a group of private investors in syndication with major Scandinavian venture fund Vækstfonden. In version 2.0 of its FloorDirector™ ASIC design tool, Teklatech has recently released a break-through design automation technology, allowing designers to control the noise signature of digital circuits proactively. As such it bridges the gap between analog and digital design optimization, which is currently limiting the potential of mixed-signal ICs, e.g. for wireless applications. Leveraging benefits in this strategically important segment is key to IC vendor success in the coming decade.

“Even in a cold capital market, there's always money for really great ideas”, says Dr. Jesper Noerregaard, business angel and new board member of Teklatech. Dr. Noerregaard has previously helped leverage the start-up GIGA to a point at which it was acquired by Intel in 2000, in an all cash transaction valued at $1.25B.

Another of the company's new investors Valdemar Boersting, former Nordic Director of Netscape Communications, continues, “Teklatech's ground breaking technology coupled with the management's clean and focused market strategy shows a great potential for capturing an important part of an emerging market in the EDA industry, centered around mixed-signal design optimization”.

Other high impact segments include noise sensitive digital ICs for highly integrated systems such as mobile phones, as well as automotive and aerospace chips with strict EMI/EMC compliancy requirements. With semiconductor technologies in nanoscale geometries, power and noise integrity presents a major obstacle to design closure, inhibiting the optimal utilization of the newest and most advanced fabrication technologies.

Dr. Tobias Bjerregaard, CEO and founder of Teklatech, expresses great optimism with the new investors. “With the active, board-level involvement of our new investors we will leverage not only the economic benefits of this round of funding, but also the experience and expertise of the people behind the money. Our customers are harvesting the benefits of our strengthened position, which allows us to continue our world class support and our cutting-edge technology innovations”. With successful pilot projects in Europe and on the door step to entering the US market with full vigor, Teklatech foresees great prospects in the coming year.

Teklatech will take part of this years Design Automation Conference (DAC) in San Francisco, July 27-30.

About Teklatech
A technology visionary and industry pioneer, Teklatech provides targeted electronic design automation (EDA) solutions to the semiconductor industry.  With innovations in noise and power integrity, floorplanning and clock distribution networks, Teklatech is focused on meeting the stringent demands of next-generation semiconductor products. Teklatech works closely with industry leaders to ensure the compatibility of tools and design flows in order to serve customers with full solutions.

About Vækstfonden
Vækstfonden helps create new growth companies in Denmark. Vækstfonden is a Danish State investment fund, that has financed growth in over 3,500 companies since 1992, with accumulated investments of more than US$ 1.2B. Vækstfonden invests directly, via other funds or in syndication with private investors, business angels, pension funds, banks, etc. www.vf.dk
 

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