VeriSilicon Raises $20 Million

VeriSilicon Holdings Co. Ltd., a SoC platform-based integrated circuit design foundry, has raised $20 million in Series D funding led by China Investment Fund, a business alliance between IBM and Lehman Brothers. Other participants included VantagePoint Venture Partners and return backers Austin Ventures, Sierra Ventures and CID. VeriSilicon has now raised $58 million in total VC funding since its 2001 inception.

 

PRESS RELEASE
VeriSilicon Holdings Co., Ltd., a System-on-A-Chip (SoC) platform based integrated circuit design foundry, today announced that it raised US$20 million in its Series D financing, bringing the total amount of venture funding received to US$58 million since the company's inception in 2001. This round was led by China Investment Fund (CIF), a business alliance between IBM and Lehman Brothers, and joined by VantagePoint Venture Partners and existing investors including Austin Ventures, Sierra Ventures, and CID. The company will use the funding to accelerate its research and development in SoC platforms using advanced semiconductor technology and expand its ASIC turnkey operations internationally. VeriSilicon currently has research and development centers in Santa Clara, California and Dallas, Taxes, U.S.; Shanghai and Beijing, China; with sales and customer support offices in Santa Clara, California, US; Shanghai, Beijing, Shenzhen, China; Taipei, Taiwan; Tokyo, Japan; Nice, France; and Seoul, Korea.

 

“VeriSilicon is growing rapidly, and we are delighted to have such a strong group of investors,” said Dr. Wayne Dai, Chairman, President, and CEO of VeriSilicon. “In the last three consecutive years, VeriSilicon has experienced approximately 100% year to year growth in revenue.”

 

“An innovative business model and innovative technology solutions have propelled VeriSilicon to the fore front of the emerging IC design foundry industry with a world wide customer base. The successful acquisition of ZSP division of LSI last year, together with the soft core license of ARM and PowerPC processors, facilitates our development of a variety of SoC platforms for consumer applications, such as multimedia, voice, and wireless communication. Application domain specific and star IP based SoC platforms are critical to making our business repeatable, scalable, and with high barrier of entry,” concluded by Dr. Dai.

 

About VeriSilicon Holdings Co., Ltd.

Founded in 2001, VeriSilicon Holdings Co., Ltd. (“VeriSilicon”) is a fast growing IC (integrated circuit) design foundry providing custom solutions and SoC (System-on-A-Chip) turn key services. VeriSilicon has an extensive track record of accelerating customer designs from initial specification to silicon, achieving first silicon success – on time and on spec – and taking customer silicon through volume production, utilizing its partner network of leading wafer foundries and assembly and test companies in Asia Pacific. In addition to its flexible engagement model, superior supply chain management, and strong service culture, VeriSilicon's market leading licensable digital signal processing (ZSP