Flex Logix secures $7.4M in VC financing
Award-winning FPGA-on-SoC Semiconductor IP innovator will use new funding for aggressive expansion
Mountain View, CA (October 26, 2015) – Flex Logix Technologies, Inc., innovative developer of patented FPGA-in-SoC technology, today announced it has secured $7.4 million in equity financing. The company’s EFLXTM Arrays enable FPGAs (field programmable gate arrays) to be easily embedded into any SoC (system-on-chip), allowing key functions to be optimized or customized after the device is completely fabricated – even updating logic after a device is installed into a system in the field.
The financing round was led by dedicated hardware fund Eclipse Ventures (formerly the Formation 8 hardware fund), and included participation from founding investors Lux Capital and the Tate Family Trust. Shirish Sathaye of Formation 8 will join the Flex Logix board of directors.
“Eclipse Ventures is excited to invest in Flex Logix,” said Shirish Sathaye. “We are impressed with the power of the technology, the rapid development, the proven software tools and the strong customer traction. We see embedded FPGA as a technology that will become pervasive, and look forward to working with Flex Logix to build a great company.”
Flex Logix will use the new capital to expand its engineering and sales team, marketing efforts and other strategic initiatives. Flex Logix’ founders won the 2014 Lewis Award for Outstanding Paper at ISSCC (International Solid State Circuits Conference). Flex Logix is led by the founding CEO of Rambus who built Rambus from 4 people to one of the industry’s most prominent Silicon IP companies.
“We are very happy to bring Eclipse Ventures and Shirish on board,” said Geoff Tate, CEO of Flex Logix. “They share our vision. We are today recruiting leaders in chip design, sales and networking applications architecture –- this financing will hep us hire the best possible people to support our growing customer base.”
About Eclipse Ventures
Eclipse Ventures is redefining the way investments are made in hardware-focused companies. We see a world where hardware, robust software architecture, and compelling data insights are no longer three separate business models. Rather, they are the three pillars that define successful systems companies of the future. Eclipse Ventures was founded by Lior Susan in 2015 and has made sixteen hardware investments to date.
About Lux Capital
Lux Capital is a venture firm based in New York City and Silicon Valley investing in counter-conventional, seed and early stage science and technology ventures. The firm manages $700 million in assets across four funds. For more information please see www.luxcapital.com. Follow Lux on Twitter @Lux_Capital.
About Flex Logix
Privately-held Flex Logix licenses its patented EFLX technology, which enables FPGAs to be embedded into SoCs. This capability dramatically reduces manufacturing and design risk, enhances development flexibility, and accelerates technology roadmaps for a wide array of applications by allowing system designs to be updated after initial manufacture.
The company is led by co‐founder and CEO Geoff Tate, the founding CEO of IP licensing pioneer Rambus. Flex Logix co-founders include Dr. Cheng C. Wang, Dr. Fang-Li Yuan and UCLA professor of electrical engineering Dr. Dejan Markovic, who received the prestigious 2014 Lewis Award for Outstanding Paper at the International Solid State Circuits Conference (ISSCC), for their description of the concepts embodied in EFLX.
For more information see www.flex-logix.com.