The company, based in Wales, UK, employs 23 people at its headquarters and in Hyderabd. The funding will be used to accelerated development of Thalia’s Re-use Platform-as-a-Service (RePaaS) solutions for power management and 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, says Rodger Sykes, CEO.
“Analog design is one of the toughest challenges in the electronics industry today,” he said. “What we are getting traction with is IP reuse and IP migration, with our tools abling customers to quickly and efficiently reuse analog IP.”
“In power management and analog designs it’s very hard to deploy automated systems. There are parts of the flow that you just can’t automate. So what we have is a flow that’s a combination of proprietary tools and our team of expert analog and power designers who can intervene where necessary. The end result is that we can move a significant IP block from one process to another, with 50% time and cost saving.”
“We are continuing to develop and expand the percentage of the flow that we cover, which is currently 50 to 60 per cent, and proving our tools in house by running real designs through them. The intention is to offer those tools to customers if they want them. Probably 9 to 12 months from now we will probably be making these available to customers but I’m in no hurry to do so,” he said.
The funding comes from Deepbridge Capital and existing investor the Development Bank of Wales (formerly Finance Wales).
“Deepbridge is committed to fostering innovation and growth in businesses with truly disruptive market potential, and we believe that Thalia definitely falls into that category,” said Ray Eugeni, Partner at Deepbridge Capital. “We look forward to helping this globally-focused company fully realize the potential of its unique core technology assets, in markets across the world.”
“Having been involved with Thalia since the early stages of its development, we’re delighted to see the fantastic progress the company has already made in the high value global technology space. Our follow-on investment in this latest funding round demonstrates our strong belief that Thalia has all of the tools to make the most of a massive market opportunity,” said Dr Carl Griffiths, Fund Manager at the Development Bank of Wales.
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