Rapid Silicon Announces $30M Series A Round
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan 9, 2023--
Rapid Silicon, a provider of AI and intelligent edge-focused FPGAs based on open-source technology, today announced its $30M Series A Round. The company has closed $15M in funding from Cambium Capital and others, including all existing investors from its seed round. The second close is planned for Q1 2023. This latest round of funding will be used to further invest in Rapid Silicon’s product portfolio, support the launch of its premier low-end FPGA product, Gemini, and to build on the company’s momentum in leading the adoption of open-source software for commercial applications.
Gemini is a programmable logic device (PLD) that is power optimized for the massive sensor processing needs, tight thermal profiles, and shrinking form factors required by embedded and edge applications. Rapid Silicon’s software, Raptor Design Suite, is the world’s first commercial FPGA EDA suite based on end-to-end open-source software. The Raptor Design Suite outperformed all leading EDA tools in the recent École polytechnique fédérale de Lausanne (EPFL) Combinational Benchmark Suite competition.
“Customers are looking for innovative ways to program FPGAs, reduce support load by leveraging the open-source ecosystem of active expertise and development engineers, and shorten time-to-market,” said Dr. Naveed Sherwani, Chairman and CEO of Rapid Silicon. “With open-source software, Rapid Silicon is removing the barriers and providing its customers with a robust end-to-end FPGA design workflow. The open-source software enables users to design complex applications quickly and efficiently on our FPGA devices.”
“Driven by its purpose and world-class talent, we believe Rapid Silicon is ready to revolutionize design-to-silicon turnaround time and provide solutions that meet and exceed the robust performance, power, area, and time-to-market requirements for next generation applications,” said Landon Downs, Managing Partner at Cambium Capital. “We see immense potential in the company’s AI-enhanced EDA tools, and we believe this team has the experience needed to bring these solutions to the global market.”
About Rapid Silicon
Rapid Silicon is a leader in AI enabled application-specific FPGAs for diverse target applications. We utilize a combination of open-source software and proprietary AI technology to significantly improve design and simplify and customer experience. To learn more about Rapid Silicon, please visit www.rapidsilicon.com.
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CONTACT: Diana Kandah
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: ELECTRONIC DESIGN AUTOMATION SEMICONDUCTOR TECHNOLOGY SOFTWARE ARTIFICIAL INTELLIGENCE HARDWARE
SOURCE: Rapid Silicon
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PUB: 01/09/2023 09:00 AM/DISC: 01/09/2023 09:03 AM