AI-enabled FPGA company announces $30M Series A round
AI and intelligent edge-focused FPGAs provider Rapid Silicon has announced a $30 million Series A round. This latest round of funding, says the company, will be used to further invest in its 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. The company’s software, Raptor Design Suite, is offered as 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, says the company.
“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,” says 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.”
The company has closed $15 million in funding from Cambium Capital and others, including all existing investors from its seed round. The second close is planned for Q1 2023.
Landon Downs, Managing Partner at Cambium Capital says, “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. 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.”
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