Tuesday, May 11, 2010
Sidense Raises $5 million in Venture Capital to Expand Product Development
Additional funds to be used to support Sidense’s growth as an NVM IP leader
Ottawa, Canada - May 11th, 2010 - Sidense Corp., a leading developer of Logic Non-Volatile Memory (LNVM) IP cores, announced today that it has raised $5 million in a Series B, growth capital venture capital financing round led by VentureLink Funds of Canada. Also participating in this round of funding are existing funding partners Tech Capital Partners and Trellis Capital of Canada and Vertex Venture Capital of Israel. This money will be used to expand Sidense’s development of embedded non-volatile memory (NVM) products for use in systems-on-chips (SoCs) implemented in leading-edge silicon processes and to enhance the Company’s sales and marketing efforts.
Sidense’s proprietary 1T-Fuse™ single transistor, split-channel antifuse technology enables the design and development of one-time-programmable (OTP) or emulated multi-time-programmable (MTP) memory blocks that are reliable, low-cost, scalable and secure alternatives to discrete flash, Mask ROM , electronic fuse (eFuse) and embedded flash memory. Semiconductor and electronic systems companies use Sidense memory IP in the design of complex integrated circuits and systems-on-chips (SoCs), which are found in a wide range of consumer, communications, industrial, automotive and medical products.
“Sidense has industry leading technology, a large and growing pipeline of customers and strong foundry relationships. We look forward to participating in the growth of the Company,” said Jim Whitaker, Managing Partner of VentureLink Funds.
“This additional funding validates Sidense’s leadership position in the rapidly expanding non-volatile memory IP market,” said Ken MacAskill, Sidense Chief Financial Officer. “The investment will provide the necessary capital to support the company’s revenue growth to profitability.”
About Sidense Corp.
Sidense Corp. provides secure, very dense and reliable non-volatile, one-time programmable (OTP) memory IP for use in standard-logic CMOS processes with no additional masks or process steps required and no impact on product yield. The Company’s innovative one-transistor 1T-Fuse™ architecture provides the industry’s smallest footprint, most reliable and lowest power Logic Non-Volatile Memory (NVM) IP solution. With over 60 patents granted or pending, Sidense OTP provides a field-programmable alternative solution to Flash, mask ROM and eFuse in many OTP and MTP applications.
Sidense OTP memory, embedded in over 90 customer designs, is available from 180nm down to 40nm and is scalable to 28nm and below. The IP is offered at and has been adopted by all top-tier semiconductor foundries and selected IDMs. Customers are using Sidense OTP for analog trimming, code storage, encryption keys such as HDCP, WHDI, RFID and Chip ID, medical, automotive, and configurable processors and logic. For more information, please visit www.sidense.com.
About VentureLink Funds
With approximately $240 million under management, Canadian-based VentureLink Fund is a diverse group of labour-sponsored funds (“LSIF”). As part of the VentureLink Funds Group, the objective of the VentureLink Brighter Future Fund is to achieve long-term capital appreciation by making investments in the securities of eligible businesses involved in developing technologies such as software, broadband, Internet, fibre optic, telecommunication, wireless, hardware and biotechnology industries, and companies involved in Canadian infrastructure, essential resource and essential service industries such as energy, water and waste management. Please visit VentureLink at www.venturelinkfunds.com.