sureCore Ltd. today announced that it has received £1 million (US$1.6 million) in Series A funding from Capital-E, Antwerp, Belgium, bringing total start-up funding to £2.1 million (US$3.4 million). sureCore is a leading edge, low-power SRAM IP company focused on advanced technology nodes.
The investment is significant in today’s semiconductor IP market, demonstrating renewed investor interest in the sector, according to sureCore CEO, Paul Wells. Funding was secured in part by successful 28nm test chips run in March of this year that delivered more than 50% power savings versus industry-standard embedded SRAM.
This round will fund the company’s planned engineering expansion, productization and commercialization of the company’s low power, variability tolerant SRAM technology that is currently undergoing evaluation at a number of leading semiconductor companies. Initial funding came from Finance Yorkshire’s Seedcorn Fund, and an innovation award from Innovate UK.
“We have worked very hard to maximise value for all of our stakeholders and have achieved major technology advances in an extremely capital-efficient manner. This funding comes at an ideal time and accelerates our drive to silicon results through our early development partners,” explained Wells.
By partnering with a number of leading semiconductor companies, sureCore has gained access to advanced silicon processes. sureCore’s partners benefit by gaining early access to world-leading, low power technology essential to success in many mainstream mobile and emerging Internet of Things (IoT) applications.
“By combining its capital-efficient business model with a deeply experienced design team, sureCore has delivered industry-leading innovation in the critical arena of low power, bringing substantial benefits to our customers in the form of extended battery life, better thermal performance and improved reliability,” said sureCore’s Chairman, Guillaume D’Eyssautier.
Ashwin Kumaraswamy of Finance Yorkshire’s Seedcorn Fund commented, “We were the founding investors in sureCore. Capital-E, a semiconductor specialist investor’s involvement, further strengthens our investment philosophy of backing quality management teams to address large but specific market requirements. The investment will enable sureCore to gain customer traction by licensing its technology in the coming months.”