Existing investor Development Bank of Wales (formerly Finance Wales) also participated in the round. Thalia said the money will be used to help the company expand into the United States.
The company was founded in 2011 by Sowmyan Rajagopalan, who had previously worked as CAD engineering manager for Micrel Inc. (San Jose, Calif.). The company is now led by chairman and CEO Rodger Sykes with Rajagopalan serving as CTO.
This latest round of funding will enable accelerated development of Thalia’s Re-use Platform-as-a-Service (RePaaS) solutions for analog IP re-use, design migration and portfolio extension, and aggressive expansion of both commercial and engineering activities in the UK, USA and continental Europe, the company said.
“Analog design is one of the toughest challenges in the electronics industry today. I believe Thalia is creating a sea change in this key market, enabling our customers to move to an ‘IP on demand’ model, and offering cost and time schedule savings of up to 50 percent,” said Sykes in a statement.
As part of its continuing expansion, Thalia plans to grow its technology development capabilities in the UK and India, as well as establishing a presence both in continental Europe and the US.
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