Anadigm® Secures $15M In Third Funding Round Led by Atlas Venture. Investment to Fund Business Growth and Further Programmable Analog IC Developments
(PRWEB) October 4, 2003
CAMPBELL, CA (PRWEB)October 2, 2003 Anadigm®, the programmable analog company, today announced the closing of a new round of financing worth $ 15 million.
This C round of funding, led by Atlas Venture with ongoing investment from 3i, Quester and NIF Ventures, points to Anadigm®s success in winning market acceptance for its field programmable analog array (FPAA) integrated circuits, which offer an analog equivalent to the digital field programmable gate array (FPGA).
Anadigm® was founded in January 2000 as a spin-off from Motorola. More than 140 customers are designing Anadigm® FPAA technology into their products to provide complex filtering, signal conditioning, and closed loop control functions in consumer audio, industrial, and communications systems.
The companys product offering combines programmable silicon with easy-to-use software tools that drastically reduce the time needed to design, verify, and bring to market embedded systems with analog interfaces. Anadigm®s FPAAs are moreover the industrys first such chips that can adapt on the fly to perform multiple functions, adjust to different environmental and electrical conditions, or compensate for equipment aging.
Anadigm® offers one of the few analog technologies that is both innovative and disruptive, said Gerry Montanus, Senior Principal at Atlas Venture. The recent launch of the companys Anadigmvortex product line has brought the company industry-wide attention, and demonstrates the markets readiness for a technology that will reduce the cost of analog circuit design, manufacturing, and innovation. Real-world interfaces are essential to a very wide range of electronic systems, and we are delighted to be part of Anadigm®s ambitious project of revolutionizing the way they are conceptualized and implemented.
The funding will be used to continue to expand Anadigm®s business in all geographical markets and support ongoing product development activities. The investment will also support additional enhancements to the software used to program the companys Anadigmvortex FPAAs, which remove the complexity from analog design and reduce the time for analog implementations from months to minutes.
We are excited to be moving forward with the support of these leading venture capital firms. 3i and Quester have been very supportive of the business and were instrumental in bringing in Atlas Venture, said Bill McLean, Anadigm® President and CEO. Our FPAA solutions continue to gain traction in the marketplace and customer engagements are validating our technologys value-add. The investment will allow us to implement the next stage of our product strategy and to further penetrate our target markets.
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About Atlas Venture
Atlas Venture is the leading international early-stage venture capital firm, investing in communications, information technology and life sciences companies. Atlas Venture has investing offices in Boston, London, Munich and Paris, and its investments are evenly divided between the United States and Europe. Founded in 1980, Atlas Venture has organized six international funds, and currently manages more than $ 2.1 billion in committed capital. The Atlas Venture investment team is comprised of seasoned operating executives and career venture capitalists that have been deeply involved in the formation and development of more than 300 companies worldwide. Visit Atlas Venture on the Web at http://www.atlasventure.com.
About 3i
3i brings capital, knowledge and connections to the creation and development of businesses around the world. It invests in a wide range of opportunities from start-ups to buy-outs and buy-ins, focusing on businesses with high growth potential and strong management. 3i invests in businesses across three continents through local investment teams in Europe, Asia Pacific and the USA. To date, 3i has invested over £15 billion (including co-investment funds). In the 12 months to 31st March 2003 an average of £3.7 million (including co-investment funds) was invested each working day. 3is current portfolio is valued at almost £4 billion. http://www.3i.com
About Quester
Quester is one of the UK’s leading independent venture capital groups specialising in the provision of finance and management support for growth companies at all stages of their life. Questers focus is on early stage investments in information and communication technology, healthcare and life science companies. With its first rate track record, Quester has earned a reputation as one of the best UK based sources of venture capital. The Quester investment team manages approximately £300 million on behalf of major institutional investors, leading UK universities, and five quoted venture capital trusts. http://www.quester.co.uk.
About NIF
NIF Ventures Co Ltd manages approximately $ 1.5 billion in venture capital funds, and has invested in over 1,400 companies since its establishment in 1982. With offices in Japan, Taiwan, Singapore, and the United States, NIF offers worldwide representation. Its primary investment focus is in the information and communications technology industries. http://www.nif.co.jp
About Anadigm®
Anadigm® brings platform-based design to the analog world with pre-qualified software and hardware components that allow complex analog circuits to be implemented in an analog equivalent to the FPGA. Designed to implement signal conditioning, filtering, data acquisition, closed-loop control, and other analog functions in a wide range of embedded systems, Anadigm® FPAAs are first programmable analog ICs that can adapt on the fly to perform multiple functions, adjust to different environmental conditions, or compensate for equipment aging. Founded in January 2000 as a venture-backed technology spin-off from Motorola, Anadigm® maintains U.S. headquarters in Campbell, Calif., and European headquarters in Crewe, U.K. For further information, visit Anadigm® on the Web at http://www.anadigm.com.
Anadigm® and AnadigmDesigner® are registered trademarks of Anadigm®. All other trademarks appearing herein are the property of their respective owners.