Ottawa’s Sidense Attracts $1.1 Million in Venture Capital


Vancouver-based venture capital investor Espresso Capital Partners has led a $1.1 million financing of Sidense Corp. of Ottawa, a developer of silicon-proven embedded non-volatile memory IP. Existing backer Trellis Capital Corp. was among the co-investors in the deal. Sidense has been venture-backed since 2006.

Sidense previously raised $5.6 million in a Series C round in October 2011 from Ontario Emerging Technologies Fund, Tech Capital PartnersVentureLink, and Vertex Venture Capital.

PRESS RELEASE

Sidense closes $1.1M Financing led by Espresso Capital

Posted on November 13, 2012 by Ben Forcier

Espresso Capital Partners (ECP) recently led a $1.1 million round of financing in Ottawa-based Sidense Corp. (www.sidense.com). Sidense is a leading developer of silicon-proven embedded non-volatile memory (NVM) intellectual property (IP). Sidense’s technology enables a wide range of electronic products powered by complex System on Chip (SOC) semiconductors that are key components in products such as cellular telephones, RFID, medical, automotive and home entertainment consumer products. Sidense`s stellar list of marquee clients include tier 1 semiconductor companies and the company recently reached a significant milestone by landing its 100th customer.

The Espresso financing solution proved to be the right money at the right time for Sidense. The funding came at a time the company was in the midst of a patent battle and the first tranche closed on the day the company won its case against Kilopass Technology Inc., a US-based competitor. Espresso was joined in the round by co-investors that include company management and Trellis Capital, an existing Venture Capital investor in the Company. Espresso demonstrated its ability to be responsive to the particular needs of the company while at the same time providing a flexible structure that gave an opportunity for existing investors to also participate.

Espresso is continuing to make significant contributions to the startup and growth stage technology ecosystem by providing non-dilutive risk capital solutions. Our approach is rooted in being responsive, timely and focused in meeting the very unique financing needs of today’s Canadian entrepreneurs.  Our capital-efficient solutions include SRED lines of credit, SaaS Revenue Lines and Digital Media loans.

Through a combination of real-world experience and a deep network in the tech sector, Espresso Capital Partners is able to provide entrepreneurial risk capital at key stages of a company’s growth cycle.

Image credit: Photo of computer memory courtesy of ShutterStock

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