Codasip Secures $2.8 Million First Round of Funding, Led by Credo Ventures
Funding will help make application specific processor (ASIP) technology mainstream and support international expansion.
SAN JOSE, Calif., and PRAGUE, April 23, 2014-- Application specific processor design tool and IP provider Codasip, today announced that it has closed its first round of public funding totaling $2.8 million. This new investment will be used to further develop Codasip's unique technology that enables ASIP's to be programed using the same standard flows as existing processors. This innovation is key to eliminating the traditional complexity associated with ASIP designs and transition ASIP usage from a niche into mainstream design. Funding is being led by Credo Ventures, a venture capital firm based in the Czech Republic, and includes additional funds from multiple private investors.
The rapid growth of mobile devices, the internet of things (IoT) and personalized medicine is driving demand for extremely low power processors that perform very specialized tasks. ASIP's address this need by optimizing the processor instruction set to the needs of the application, or class of applications. This optimization can improve performance by orders of magnitude over traditional processing techniques. However, traditional approaches require highly specialized knowledge and are complex to deploy. Codasip's unique electronic design automation (EDA) tools and IP make it extremely easy to develop and program ASIP designs, delivering the power of ASIP with the simplicity of standard processors.
"Codasip is changing how ASIPs are designed today and we are happy to help the company expand to new markets." said Vladislav Jez, Partner at Credo Ventures. "We are extremely excited by what this new funding will enable us to do." said Karel Masarik, CEO Codasip, Ltd. "After being specialized products for many years, some form of ASIP now exists in every semiconductor-based product. Codasip's uncompromising vision to deliver the performance that ASIP's offer, while utilizing industry standard design, development, and programing flows, means we are perfectly positioned to take advantage of this rapidly growing opportunity. Additionally, our Codix extensible processor IP and subsystems mean that even companies that have never dealt with this technology can benefit with minimal effort."
Codasip recently released version 2.0 of the Codasip Studio ASIP platform, further extending its technology leadership in the market. This new funding will be used to accelerate the existing product roadmap for EDA tools, as well as expanding the range of Codix IP cores that it will bring to market.
In addition to expanding R&D activities the funding will be used to enable international expansion. Codasip has recently expanded its business development and sales presence in the US, and Europe, and will be expanding to other regions during the remainder of 2014.
Codasip delivers leading-edge IP and EDA tools that enable adoption of Application Specific Instruction Set Processors (ASIP's). ASIP's utilize dedicated instructions to accelerate software and are at the heart of applications that require very high performance with low power. Codasip's unique technology makes ASIP adoption as simple and easy as standard embedded processor cores. Formed in 2006 and headquartered in Brno, Czech Republic, Codasip currently has offices in the US and Europe. More information on Codasip's products and services is available at www.codasip.com.
About Credo Ventures
Based in Prague, Czech Republic, Credo Ventures is the most active venture capital firm that invests in Central European startups across IT, Internet, health. Credo Ventures believes in entrepreneurship and builds upon strong international relationships; its Advisory Board is headed by technology visionary and investor Esther Dyson and its Investment Committee Chairman is Eduard Mika, one of the most prominent technology entrepreneurs in Central Europe.
For further information please contact:
Neil Hand, VP Marketing & Business Development, Codasip, +1 650 353 7486, email@example.com
Vladislav Jez, Partner, Credo Ventures, +420 737 238 278, firstname.lastname@example.org
Media Contact: Neil Hand, Codasip Ltd., 650 353 7486, email@example.com
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