Monday, October 17, 2011
Sidense Raises Additional $5.6M Venture Capital
Secures funding for NVM development in advanced nodes and continued business growth.
Sidense Corp., a leading developer of Logic Non-Volatile Memory (LNVM) one-time programmable (OTP) memory IP cores, announced today that it has raised an additional $5.6 million for its Round C financing from several sources, including one new source, Ontario Emerging Technologies Fund (OETF). Also participating in this round of funding are existing Venture Capital investors including Tech Capital Partners, VentureLink, and Vertex Venture Capital.
"Sidense continues to perform very well in the market and has proven, patented technology of which we are very proud," said Andrew Abouchar, Sidense's Chairman of the Board. "We stand behind the company and its products, management and values. We are here to make sure that the company continues to be funded well so that it can execute according to plan."
"We are delighted to have the support of a new investor, alongside our existing investors," said Xerxes Wania, CEO and President of Sidense. "With the current financing, we are in an extremely good position to introduce our next generation of products in advanced process nodes."
About Sidense Corp.
Sidense Corp. provides secure, very dense and reliable non-volatile, one-time programmable (OTP) memory IP for use in standard-logic CMOS processes with no additional masks or process steps required and no impact on product yield. The Company's innovative one-transistor 1T-Fuse™ architecture provides the industry's smallest footprint, most reliable and lowest power Logic Non-Volatile Memory (LNVM) IP solution. With over 70 patents granted or pending, Sidense OTP provides a field-programmable alternative solution to Flash, mask ROM and eFuse in many OTP and MTP applications.
Sidense SiPROM, SLP and ULP memory products, embedded in over 160 customer designs, are available from 180nm down to 40nm and are scalable to 28nm and below. The IP is offered at and has been adopted by all top-tier semiconductor foundries and selected IDMs. Customers are using Sidense OTP for analog trimming, code storage, encryption keys such as HDCP, WHDI, RFID and Chip ID, medical, automotive, and configurable processors and logic. For more information, please visit www.sidense.com.
About the Ontario Emerging Technologies Fund (OETF)
The Ontario Emerging Technologies Fund is a $250 million direct investment fund, established in 2009 by the Province of Ontario and managed by the Ontario Capital Growth Corporation (OCGC), to co-invest into innovative, high-growth, private Ontario companies. www.ontario.ca/ocgc
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