Enuclia Semiconductor Secures $13 Million in Series B Financing Led by Menlo Ventures; Funding is One of the Largest Investments Ever Made by a VC Firm in an Oregon-based Semiconductor Company.BEAVERTON Beaverton, city (1990 pop. 53,310), Washington co., NW Oreg., a suburb of Portland, in a farm area; inc. 1893. Beaverton is the heart of the Silicon Forest high-technology manufacturing complex. Headquarters for electronics companies and NIKE, Inc., are there. , Ore. -- Enuclia(TM) Semiconductor, Inc., a fabless semiconductor company A fabless semiconductor company specializes in the design and sale of hardware devices implemented on semiconductor chips. It achieves an advantage by outsourcing the fabrication of the devices to a specialized semiconductor manufacturer called a semiconductor foundry or "fab. , has secured $13 million in Series B financing led by Menlo Menlo (Mionnloch) is a small village in the parish of Castlegar, on the outskirts of Galway, Ireland. Its name was re-used by Irish colonists in America. It is bordered by Lough Corrib and the River Corrib, to the North West. Ventures of Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif. Arvind Purushotham, managing director at Menlo Ventures, will join the Enuclia board. Sevin Rosen Funds Sevin Rosen Funds (SRF) is a venture capital firm that was established in 1981 by L.J. Sevin and Ben Rosen. SRF was involved in the financing of ArQule, CIENA, Citrix, Cypress Semiconductor, Electronic Arts, Lotus Development Corporation, Silicon Graphics, and Vitesse. and BA Venture Partners, who co-led Enuclia's $5.3 million Series A funding in December 2004, also participated in the Series B round. "We at Menlo are very excited about the highly differentiated display technology Enuclia has developed, with the capability of outstanding image quality at lower TV set prices," said Purushotham. "Menlo has deep experience in helping visionary 1. visionary - One who hacks vision, in the sense of an Artificial Intelligence researcher working on the problem of getting computers to "see" things using TV cameras. (There isn't any problem in sending information from a TV camera to a computer. leaders transform technical innovations into industry-leading companies. Because of Enuclia's unique display processing architecture and its strong competitive positioning, we fully expect the company to become a leading technology provider in the flat panel TV space." "We are extremely pleased to add Arvind to our board of directors," said Christian Prusia, co-founder of Enuclia. "Adding Arvind's and Menlo's perspectives to our board will greatly help our team to execute as we shift from technology development to product development. The Menlo team has a broad range of experience, especially in helping companies scale their operations to become mature, global organizations. This is precisely where Enculia is headed, and we could not have hoped for better partners to ensure our success." About Menlo Ventures Since 1976 Menlo Ventures has provided long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. capital and management support to early-stage and emerging-growth companies. Menlo is one of Silicon Valley's oldest venture capital partnerships and has organized and managed ten venture funds since its inception. With over $3.9 billion under management, and a team with over one hundred years of collective experience in technology, marketing, sales, and general management, the firm has the resources to support the most ambitious projects. Menlo recently formed Menlo Ventures X, L.P., capitalized Capitalized Recorded in asset accounts and then depreciated or amortized, as is appropriate for expenditures for items with useful lives longer than one year. at $1.2 billion. The fund will be invested in emerging-growth companies at all stages in the technology sector. Menlo continues its commitment to being a long-term, active partner to visionary entrepreneurs. For more information about Menlo Ventures, please visit www.menloventures.com. About Enuclia Semiconductor Enuclia Semiconductor, Inc. of Beaverton, Ore., is developing the next wave of emerging display electronics that will deliver unparalleled image quality, differentiation, and cost savings to the world's leading manufacturers of flat panel digital televisions. The company's investors include Sevin Rosen Funds, BA Venture Partners, and Menlo Ventures. At present, Enuclia is in NDA (Non Disclosure Agreement) An agreement signed between two parties that have to disclose confidential information to each other in order to do business. In general, the NDA states why the information is being divulged and stipulates that it cannot be used for any mode concerning the details of its technology and products, but you can visit www.enuclia.com for the latest in news and career opportunities at the company, or direct inquiries to info@enuclia.com. Enuclia and associated stylizations are trademarks of Enuclia Semiconductor, Inc. All other trademarks are the property of their respective owners. |
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