The Edinburgh laser manufacturer has closed a £1.2m round backed by Kelvin Capital, EOS, Scottish Enterprise, and ESM Investments.
"This new funding will enable us to expand our team and accelerate Chromacity’s growth, both commercially and technologically. We are seeing significant traction with major industrial companies in China and Japan, who are very interested in the high average power and broad wavelength coverage of our systems, and it’s important we are funded to accelerate growth and capitalise on these opportunities."
The Cambridge-based semiconductor IP supplier raised the funds to scale its engineering and commercial teams in Asia and North America.
"What excites us about Agile Analog is the potential for scale. Every other analog IP supplier is restricted to selling a limited range of standard IP products. But because Agile Analog’s unique technology enables it to create the IP that the customer wants, it can satisfy a wider range of customer requirements, and integrate more functionality into a chip design. As a result, the company is not limited by the size of today’s analog IP market – Agile Analog’s addressable market is potentially as big as the analog chip market. That is a huge opportunity which OMERS Ventures is pleased to help Agile Analog explore."
The seed round was led by UCL Technology Fund and IP Group to help fund memory device prototyping.
"Existing memory technologies, such as Flash, are reaching the limits of their capabilities – particularly in embedded systems such as those we need in IoT devices. Intrinsic’s memristor technology will transform next generation systems by combining high performance with ease of integration in digital CMOS. By basing our devices on silicon oxide, we ensure that they are as simple and as cheap to integrate with silicon-based electronics as it is possible to be."
The financing round was co-led by IQ Capital, Parkwalk Advisors and BGF to scale the company's product range and double headcount.
"This latest round of investment is a great recognition of our success to date, with new and existing investors confirming the strength of our technology. Since 2016, CGD has grown significantly and we are thrilled to be in a position to deliver several products to market, following decades of industry-leading research in reliability of power devices. This investment will allow us to supplement our experienced team with additional experts and expand our markets globally, creating more sustainable electronics worldwide."
The funding round was supported by Morningside Ventures and new private funds.
"There is tremendous need for technologies that can enable effective digital health and wellness, driven by the associated benefit provided to population health,"
