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Narain founded Real Intent raises $6.5M
By siliconindia
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Friday, 11 February 2005, 20:30 IST
SANTA CLARA, CA: Prakash NarainÂ’s Real Intent, Inc., the supplier of formal Assertion-Based Verification (ABV) software for electronic design verification, today announced that the company raised $6.5M in a new round of financing. The company will use the funds to expand formal analysis technology to new electronic design markets
‘’This new round of funding allows us to accelerate the application of our formal analysis technology to new design markets, by increased investment in R&D, Sales and Marketing and Customer Support,” said Prakash Narain, Founder and CEO of Real Intent. ''Strong customer acceptance of our existing products, progress on standards for assertion based verification, plus breakthrough technology we have developed, position us for another year of accelerated growth.'' he continued.
The funds will be used to accelerate and advance the application of Real IntentÂ’s formal analysis software technology to new electronic design applications. This financing round was led by existing investors including Andy Bechtolsheim, co-founder of Sun Microsystems.
''With the increasing cost of tape outs, there is a critical industry need to increase verification coverage of complex designs. Real IntentÂ’s innovative use of advanced formal techniques is helping customers worldwide to find bugs that escape traditional simulation techniques and to make formal verification fit into their existing design flows'', says Andy Bechtolsheim.
''This new round of funding allows us to accelerate the application of our formal analysis technology to new design markets, by increased investment in R&D, Sales and Marketing and Customer Support,” said Prakash Narain, Founder and CEO of Real Intent. ''Strong customer acceptance of our existing products, progress on standards for assertion based verification, plus breakthrough technology we have developed, position us for another year of accelerated growth.'' he adds.