Existing investors re-commit as customer traction grows
CWMBRAN, WALES, UK, 16 October 2017 – Thalia Design Automation today announced the completion of a $865k (£640k) funding round that will allow it to drive market uptake of its innovative methodology solutions for analog IP (intellectual property) re-use, design migration and derivative creation. With renewed commitments from the company’s existing investors, Mercia Fund Managers and Finance Wales, this latest funding round is a recognition of significant customer traction achieved by Thalia within the last 18 months, and the strong future potential of its offerings in the analog design and IP space.
“This new investment is a strong endorsement of our market strategy,” said Rodger Sykes, Thalia Executive Chairman and Director. “Analog IP re-use is one of the biggest challenges facing the electronics industry today, and customers tell us that our approach, blending advanced design automation tools and methodology with experienced, expert design resources, really provides them with a competitive edge for reduced cost and time to market.”
Thalia will use this latest round of investment to continue building its customer engagement base and increase its expert team of analog IC developers. The company provides RF, analog and mixed-signal technology transfer, derivative and IP creation solutions, based on a unique combination of design automation technology, methodology and design know-how. Its customers include integrated circuit (IC) manufacturers and IP houses looking to quickly and cost-effectively diversify their product range, and leverage the most appropriate semiconductor manufacturing technologies.
“Our customers report schedule, cost and resource savings of up to 50% - not to mention the ability to re-focus internal teams on new development programs, where they can add most value,” added Sowmyan Rajagopalan, Thalia Founder, CEO and CTO. “Our message to IP providers is that analog design doesn’t have to be a black art – there are technologies and design resources out there that can help with re-use and product diversification, every bit as powerful as those available in the digital design space.”
Tim Hazell, Investment Director at Mercia Fund Managers, said: “Thalia has the opportunity to establish a leading position in automating the design of analog and mixed signal integrated circuits. It’s an exciting growth area, and we are delighted to continue our support of Thalia and its further development.”
Dr Carl Griffiths, Fund Manager with Finance Wales, commented: “Innovative technology ventures like Thalia are among our prime targets for investment. Thalia’s increasing traction in the high value global technology space and robust business model have put them in a strong position – we’re delighted to be able to renew our commitment to the company.”
Thalia is a venture funded technology business with facilities in Cwmbran, Wales, UK, and Hyderabad, India. The company provides analog / mixed signal design solutions for integrated circuit (IC) manufacturers and IP companies, via unique design automation technology and strong value-added services capabilities. The company’s investors include Mercia Fund Managers and Finance Wales: it has also received grant funding from Innovate UK and The Welsh Government.
About Mercia Fund Managers
Mercia Fund Managers provide both equity and debt finance to small businesses based in the UK regions. The Group has more than 400 businesses in its portfolio, a strong record including 11 IPOs and manages in excess of £330.0milllion of third party funds, including Mercia EIS Funds.
- Mercia Fund Management Limited is authorised and regulated by the FCA under firm reference number 524856
- Enterprise Ventures Limited is authorised and regulated by the FCA under firm reference number 183363
- EV Business Loans Limited is authorised and regulated by the FCA under firm reference number 443560