Silicon Hive Receives $7 Million in New Funding
Date: Thursday , January 15, 2009
Silicon Hive, a semiconductor intellectual property provider, has received $7 million in new funding this month. The round was led by Intel Capital and joined by the existing investors New Venture Partners and TVM Capital.
The new funds will be used to expand the global sales, marketing, and customer support organization, which operate from offices in Eindhoven, Bangalore, Tokyo, Seoul, and Silicon Valley. The company intends to release additional HiveGo solutions for image and video processing. HiveGo products combine Silicon Hive’s silicon proven HiveFlex processors with specialized software building blocks to implement critical high-performance functions on multimedia integrated circuits for consumer electronics.
Silicon Hive has also signed a business agreement with Intel for potential product opportunities using Silicon Hive’s technology, covering the entire spectrum of mobile products. “During the past year, Silicon Hive experienced significant growth worldwide, gaining several tier-one semiconductor vendors as customers. We work closely with them to address the growing need for programmable solutions to make their flagship semiconductor platforms more cost-effective and future-proof. We are excited about Intel Capital joining our investor base as we follow that mission,” says Atul Sinha, founder and CEO, Silicon Hive.
The 50-member team at Silicon Hive develops products that enable semiconductor and consumer electronics companies to make fully programmable integrated circuits for imaging, video, and wireless communication applications.