Solido Receives $6.5M Second Round Financing.Golden Opportunities Fund Leads Round; All First Round Investors Participate, Bringing Total Funding to $9 Million SASKATOON Saskatoon (săskət  n`), city (1991 pop. 186,058), S central Sask., Canada, on the South Saskatchewan River. , Saskatchewan -- Solido Design Automation today announced
second round financing of $6.5 million, bringing total funding in the
company to $9 million. The funding will be used to help accelerate the
development and deployment of Solido's transistor-level statistical
design and verification software technology, which aims to ensure robust
analog/mixed-signal, custom digital, and memory integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for (IC)
designs.
Golden Opportunities Fund led a syndicate of investors including BDC (Backup Domain Controller) In a Windows NT server, a copy of the Primary Domain Controller (PDC). The BDC is periodically synchronized with the PDC. See PDC. BDC - Backup Domain Controller Venture Capital, Victoria Park Capital, and private investors. Ulrich Felbermayr, Senior Investment Manager with Golden Opportunities Fund, was welcomed as a member of the Board of Directors. Golden Opportunities made their initial investment along with participation from all existing investors, including Investment Saskatchewan, through its investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and , Victoria Park Capital, and BDC Venture Capital. Amit Gupta, Solido cofounder co·found tr.v. co·found·ed, co·found·ing, co·founds To establish or found in concert with another or others. co·found and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said that the Solido technology fills a long-term gap in automated design tools for analog and custom IC designers, and ensures that nanometer designs work despite wide variations within a given manufacturing process. "Our solution complements traditional Monte Carlo Monte Carlo (môNtā` kärlō`), town (1982 pop. 13,150), principality of Monaco, on the Mediterranean Sea and the French Riviera. analysis, which is the only analysis that's been available to analog and custom IC designers for years," said Mr. Gupta. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Mary Olsson, vice president at GarySmith 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. (Santa Clara, Calif.), Monte Carlo analysis is inadequate for analog and mixed-signal designers who are designing products in applications built around systems on a chip (SoCs). "Analog and custom IC designers are seeing the effects of sub-90-nm process variations that are affecting yield loss, poor performance, greater power consumption, and larger die area. Designs are failing, which is complicating the detection of transistor failures." According to the Semiconductor Industry Association, analog products - the market Solido serves - was one of the fastest-growing segments in 2006, growing 17.3% to $37.4 billion; forecasts project growth to $48.6 billion by 2009, a compounded annual growth rate (CAGR CAGR See: Compound Annual Growth Rate ) of 11.1%. Growth is driven by strong demand from wireless communications, industrial and medical equipment applications. More About Solido's Technology The new Solido patent-pending technology incorporates statistical sampling, tradeoff analysis, circuit characterization, and circuit enhancement to discover problems and explore opportunities to compensate for those problems. Included in the Solido solution are new statistical data mining and visualization algorithms that enable designers to identify areas of interest, efficiently explore the data, analyze and interpret it, and prepare reports. Solido is integrating its technology into all industry-standard analog, mixed-signal, and custom design flows. Solido is currently working with customer partners and will announce its transistor-level statistical design and verification tool suite in the next few months. About Solido Design Automation Solido Design Automation Inc. provides transistor-level statistical design and verification software solutions for analog/mixed-signal, custom digital, and memory integrated circuits. Founded by serial analog entrepreneurs, 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 Saskatoon, Canada with sales offices in U.S.A., Japan and Europe. For further information, visit www.solidodesign.com or call 306-382-4100. About Golden Opportunities Fund Golden Opportunities Fund is Saskatchewan's first and largest Provincial Labour Sponsored Venture Capital Fund with more than $100 million of assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . The Fund has invested in Saskatchewan growth companies across 10 different industry sectors, making a significant and positive impact on the future of Saskatchewan. For further information, visit www.goldenopportunitiesfund.com. About Victoria Park Capital Victoria Park Capital, with over $640 million under management, is the largest private equity firm in Saskatchewan with a mandate to invest in and help build value in businesses which bring economic activity to the province and who require total financing greater than $3 million. For further information, visit www.victoriaparkcapital.com. About BDC Venture Capital BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company's development cycle, from seed through expansion, with a focus on technology-based businesses that have high growth potential and are positioned to become dominant players in their markets. BDC Venture Capital has been involved in venture capital since 1975, and has to date invested in more than 400 different companies. It currently manages approximately $550 million in venture capital assets capital assets n. equipment, property, and funds owned by a business. (See: capital, capital account) invested in the areas of Life Sciences, Telecommunications, Information Technology, Advanced Technologies and Fund Investments. For more information, see www.bdc.ca. |
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