Product category: Design and Development Software
News Release from: Monterey Design Systems
Edited by the Electronicstalk Editorial Team on 5 September 2003
Top-line funds queue
up to support Monterey
Nokia Venture Partners and Information Technology Ventures have both made investments in Monterey Design Systems, bringing the total series II funding round to $15 million
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Record quarter for Monterey
Monterey Design Systems has closed a record quarter as a result of expanded orders from existing customers and the addition of several new accounts
"Monterey is quickly emerging as the technology pace setter in design planning and prototyping", said W Peter Buhl, Partner at Nokia Venture Partners. "Effective planning and prototyping leads to smaller, faster, less power-hungry chips, more predictable design schedules, and lower engineering costs".
"With this additional investment we are gaining two things", said Jacques Benkoski, President and CEO of Monterey.
"We get the capital we need to fully exploit our technology leadership position in planning and prototyping, and we benefit from adding another premier investor to Monterey".
Previously announced investors in this round include Sevin Rosen Funds, Excelsior Venture Partners III, RHO Management Trust, Lucent Venture Partners, Kaufman and Vertex Partners.
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