Product category: Design and Development Software
News Release from: Zenasis Technologies
Edited by the Electronicstalk Editorial Team on 4 November 2004
Funding third round
for design automation venture
Zenasis Technologies has raised $7million in its third round of funding from Newbury Ventures along with existing investors Sigma Partners, Selby Venture Partners and VentureTech Alliance
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Zenasis Technologies, an electronic design automation (EDA) company, delivering next-generation integrated circuit (IC) design optimization software, announced today that the company has raised $7million in its third round of funding from Newbury Ventures along with existing investors Sigma Partners, Selby Venture Partners and VentureTech Alliance.
This brings the total amount raised to $17million in financing since the company was founded in 2000.
In conjunction with the financing, Jay Morrison of Newbury Ventures will join the board.
Funds will be used as working capital to build the sales channels and expand the research and development (R and D) efforts.
"Zenasis business plan and strategic approach fit very well into our investment strategy.
We believe the Zenasis next-generation software products will provide significant performance improvement and faster turnaround time for cell-based designs", affirms Jay Morrison, managing partner at Newbury Ventures.
"Newbury Ventures recognizes Zenasis' unique value proposition and potential for growth", says Dr Jay Roy, president and chief executive officer (CEO) of Zenasis.
"Newbury Ventures is reputed for its tremendous experience base and wide network in the industry.
We are confident the new relationship will help grow the company to the next level."
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