LONDON Cambridge Semiconductor Ltd. (CamSemi) has completed one of the largest venture captial funding rounds for a European fabless semiconductor company this year by raising £13million (about $26million).
The C round funding, led by 3i and existing shareholders Scottish Equity Partners (SEP) and TTP Ventures, sees the Carbon Trust join as a new investor, taking a $4 million equity stake.
The additional funding will support CamSemi’s commercialisation of products that can reduce the energy consumption of electronic equipment in operating and standby modes as well as continue to build its sales and marketing infrastructure and provide the working capital to fuel the demand-led expansion in the company’s business.
CamSemi recently unveiled details of its first product, a mixed-signal controller IC.
“CamSemi is probably one of Europe’s top three emerging fabless semiconductor companies,” said Laurence Garrett, partner at 3i and CamSemi board member. “The company has developed a number of patented, proprietary technologies; is developing a portfolio of compelling products that target a major unmet need; and has built a world-class management and engineering capability. In our view, the company has all the right ingredients, the enthusiasm and the drive to become a future leader in the power management IC market.”
Adam Workman, partner at Carbon Trust Investments added, “Carbon Trust is delighted to be joining at this investment round as we believe that CamSemi has one of the few technologies in development with the potential to really make a difference in this area.”