Efabless Corporation announced the closing of a $6.3 million extension of its Series A-1 venture funding. Investors in the round include GlobalFoundries, Synopsys, New North Ventures and a select group of individuals. The proceeds will be strategically utilized to fortify business development, marketing, and further product development.
Mike Wishart, CEO and Co-founder of Efabless, said, “We are excited that GlobalFoundries has joined Synopsys and New North Ventures as investors in Efabless. GlobalFoundries brings a long history of success as an industry-leading foundry and an impressive portfolio of essential technologies. The support from GlobalFoundries and Synopsys signifies strong industry confidence in our community-based development and decentralized design approach to dismantle barriers in chip creation. With their support, and that of our other partners, we are democratizing the chip creation process from design to production by making it simple, affordable and accessible, thereby enabling more designers in burgeoning markets such as IoT, Artificial Intelligence and Machine Learning.”