Achronix Semiconductor Corporation is a Santa Clara, California–based provider of field-programmable gate arrays (FPGAs). The company held an over $40m first close of a $45m Series C mezzanine financing. The round was led by a syndicate of financial and strategic investors and all of Achronix’s existing investors participated in the financing. The additional $5m will be closed in the next 60 days. The company intends to use the proceeds of the financing to accelerate investments in Speedster22i FPGAs and future products. Achronix’s Speedster22i devices, based on Intel’s 22nm process technology, offer cost-effective production of high performance, high density, IP-rich FPGAs, and the company operates sales offices and representatives in the United States, Europe, China, Japan, and Korea, with research and design offices in Ithaca, N.Y., and Bangalore, India. Achronix Semiconductor is a San Jose, Calif. company that develops the Speedster family of field-programmable gate arrays (FPGAs). Its Speedster models are designed to deliver faster and generally better performance for computer applications, with operating speeds up to 1.5GHz, according to PE Hub. The company recently closed $43 million of a still-open $52 million second round of financing. Argonaut Private Equity led the tranche, which also included Battery Ventures, New Science Ventures, Easton Capital Investment Group and Entrepia Ventures. Achronix previously raised $25.4 million in its first round last January. It plans to use the new funds to develop a new generation of products, and coverage described the round as one of the largest recent semiconductor financings. Achronix Semiconductor is a San Jose company developing multi-GHz Field Programmable Gate Array (FPGA) technology. The company targets the high-performance segment of global ASIC/ASSP/FPGA markets, which it says represents a $20 billion-plus opportunity. Achronix completed a $25.4 million first round of venture backing. The financing was led by New Science Ventures (of New York) and Battery Ventures, with Entrepia Ventures and Easton Capital Investment Group participating. The article includes the company's full statement on the raise.

Total raised

$113M

Funding rounds

3

Latest round

Series C

Latest activity

Mar 2011