PRESS RELEASE: Efabless Series A-1 Round Led by New North Ventures Drives Open-Source-Enabled Chip Design
Efabless, the creator community platform for the design, development and commercialization of integrated circuits (“ICs” or “chips”) , announced it has received series A-1 venture funding led by New North Ventures to capitalize on its successful chipIgnite and Google-sponsored Open-MPW programs. Efabless will use proceeds to support business development and marketing, and to further product development.
Jeremy Hitchcock, partner at New North Ventures said, “We invest in companies that tackle big problems for big markets and Efabless does exactly that. They created an open source and community platform that changes the formula for chip design, reducing the friction to learn, develop, and manufacture chips. By making the process more affordable and accessible, they can empower more designers in exploding markets like IoT and Machine Learning (“ML”) where the benefits of purpose-built silicon can be 1000x faster and more power efficient. Designers today include chip experts, software developers and hardware developers from Fortune 100 companies, startups and academia, and they are just getting started.”
Mike Wishart, CEO and Co-founder of Efabless, said, “We are excited to work with New North Ventures. They bring a powerful combination of private and public sector experience – and very importantly, they are smart and savvy entrepreneurs. New North shares our vision and we look to them as a valuable source of wisdom and advice as we build on our success and democratize chip design.”
About Efabless Corporation
Efabless.com is the creator community platform for the design, development and commercialization of integrated circuits (“ICs” or “chips”) as part of the electronics development process. Our mission is to democratize the process of electronics product creation, making it accessible to all who want to participate. Product developers use this platform to rapidly, cost-effectively and reliably create custom silicon. Expert chip developers use the solution to dramatically reduce cost and time to market for proof of concepts of new and exciting ICs. Efabless has partnered with Google to offer a “design-to-prototype” solution that is free for open source ICs. Efabless also offers chipIgnite to support “design-to-prototype” solutions for proprietary designs. The Efabless model is extensible to advanced packaging, software and systems. Efabless is headquartered in Palo Alto, California. For more information, visit www.efabless.com.
About New North Ventures
New North Ventures is a distinctive venture fund with a strategic mission created from the partnership of technology entrepreneurs and former leaders in the intelligence community. Recognizing that digital threats are no longer nation-state focused, New North Ventures is advancing information integrity through investing in early stage companies who power trust and the speed of decision making. The fund was co-founded by Brett Davis (former Navy and CIA) and Jeremy Hitchcock (co-founder of Dyn acquired by Oracle and co-founder of Minim which went public). New North Ventures invests in artificial intelligence, cyber security and next-gen communication sectors and was launched in 2021. For more information, visit newnorthventures.com.