Cumbernauld, UK FPGA systems developer, Nallatech, has secured £2 million in a second round of funding from existing investors, 3i and Scottish Equity Partners. 3i has invested £1.5 million in this round, with a further £0.5 million invested by Scottish Equity Partners. The funding will be used to expand the company's sales and marketing in the US during 2004.
Iain Robertson who is chairman of Cambridge Semiconductor has joined the Nallatech board as chairman. Allan Cantle, president and CEO of Nallatech, welcomed the funding and said, “With Iain coming on board as well, this is an exciting time for the company, as we shift our focus from developing innovative product solutions to building a global market position.”
Robin Marshall of 3i said, “Nallatech has demonstrated the ability to not only produce world class technology but to sell that product into a very competitive global marketplace.”
Gordon Beveridge, of Scottish Equity Partners' IT team agreed, adding: “This is a good example of a strong company that has steadily built its business over the last three years, ignoring the ups and downs of the technology marketplace and concentrating on developing both first rate technology and strong customer relationships.
Nallatech is also using sponsorship through the DTI Global Watch Secondment scheme to send two engineers to the US for 12 months to help develop its products for use with next generation military aircraft systems.
Dave Bird, an engineer with Nallatech, has gone to Orlando to work on a ruggedisation project and is liaising with staff from Lockheed Martin (LMC) in Orlando, General Dynamics and Naval Research in California, and Teledyne, a developer of airborne telephone systems based in Tennessee.
Another Nallatech engineer, Eric Lord, has gone to San Jose to lead a Department of Defence authorisation project and is also working with LMC and Teledyne as well as Defense Research Associates in Ohio.