Azuro Secures $9M in Second Round Funding.MOUNTAIN VIEW, Calif. -- Azuro, Inc., a provider of innovative electronic design automation (EDA (1) (Electronic Design Automation) Using the computer to design, lay out, verify and simulate the performance of electronic circuits on a chip or printed circuit board. ) tools that significantly reduce the power consumption of digital semiconductor chips, today announced that it has raised $9 million in second round venture funding. This round of investment was led by Miramar Venture Partners; existing investors Benchmark Capital Benchmark Capital is a venture capital firm responsible for the early stage funding of some very successful startups, including eBay. In 1995, the firm invested $6.7 million in eBay, which became worth more than $5 billion by the spring of 1999 and resulted in one of Silicon and TTP TTP (thymidine triphosphate): see thymine. Ventures also participating fully. In addition, Heiner Sussner, Managing Partner at Miramar Ventures, has joined Azuro's board of directors. "We are delighted to welcome Miramar as an investor," said Paul Cunningham Paul G. Cunningham (born 1937) is a minister and general superintendent in the Church of the Nazarene. , co-founder and chief executive officer of Azuro. "Miramar has deep ties to the semiconductor industry and is the perfect partner to take us through our next phase of growth." Azuro was founded in 2002, and has raised a total of $13.3M in venture funding since its formation. The company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , PowerCentric(TM), is a complete solution for the implementation of low power clock networks on digital semiconductor chips. Commenting on Miramar's investment, Sussner stated, "Power has become a critical issue for digital chip design teams, and we see a compelling need for advanced EDA tools that enable these teams to build lower power chips. Azuro's product is architected from the ground up to tackle the complex power saving strategies necessary for next generation chip design, and the demand for their solution is impressive." "Azuro has undertaken the development of an ambitious technology and proven that they can deliver a significant power saving advantage to their customers," said Mark Evans, general partner at Benchmark Capital. "We are delighted to have been an integral part of Azuro's progress and look forward to facilitating their continued success." Azuro plans to use the funds raised from the round to expand sales, extend its management team and broaden the capability of its PowerCentric solution. About Miramar Venture Partners Miramar Venture Partners targets technology companies with high growth potential in communications, networking, information storage, processing, security, next generation software, and application services See ASP and Web services. . It seeks companies that are as market-driven as they are technology-driven, have proprietary and defensible technology positions yielding a competitive edge and barrier to entry, and are led by management teams with the experience, dedication and a high sense of urgency to succeed at their endeavours. Visit Miramar's website at www.miramarvp.com. About Benchmark Benchmark Capital was founded in 1995 with the mission of helping talented entrepreneurs build major technology enterprises focused on long-term growth. Benchmark takes a labour-intensive, team-oriented approach to venture investing venture investing The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so in order to deliver a superior level of service to its portfolio companies. Benchmark's portfolio includes EDA companies  The external links in this article or section may require cleanup to comply with Wikipedia's content policies. Synopsys (Nasdaq:SNPS SNPS Space Nuclear Power System ) and Get2Chip; semiconductor vendors, Abrizo, Comcore, and C-Port; and franchise companies such as eBay (Nasdaq:EBAY), Juniper Networks (Nasdaq:JNPR JNPR Juniper Networks, Inc. (stock symbol) ) and Red Hat (Nasdaq:RHAT RHAT Red Hat (stock symbol)RHAT Rainwater Harvesting Association of Tanzania RHAT Register Hba Attributes ). Managing more than $2 billion in committed venture capital, Benchmark focuses on early-stage investment in markets where the partners have direct, relevant experience. For more information on Benchmark, visit its website at www.benchmark.com. About TTP Ventures TTP Ventures is the venture capital investment arm of TTP Group, one of Europe's most successful innovation companies based near Cambridge, UK. It invests in early stage science and technology businesses and specializes in spin-offs from R&D organizations. Investments include Element-14 (acquired by Broadcom), Alphamosaic (multimedia processors) and Cambridge Semiconductor (integrated power semiconductors). Its investors include Boeing and Siemens. For further information, visit www.ttpventures.com. About Azuro Azuro, Inc. is a provider of innovative electronic design automation (EDA) solutions that significantly reduce the power consumption of digital semiconductor chips. Founded in 2002, the privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. is headquartered in Mountain View, Calif., with a development center in Cambridge, UK. For further information, visit www.azuro.com or call (650) 237-3500. Azuro, PowerCentric, and the Azuro logo are either trademarks or registered trademarks of Azuro, Inc. All other trademarks are the property of their respective owners. |
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