STOCKHOLM and GOTHENBURG, Sweden, Oct. 01, 2003 (PRIMEZONE) -- Safelogic, an electronic design automation (EDA) company and provider of functional verification products for integrated circuit (IC) designs, today announced it has raised $3.5 million in a second round of funding from new investors InnovationsKapital and Northzone Ventures together with existing investors the Malmsten family, NewMedia SPARK and Paradigm Capital Partners. The funding will be used to broaden Safelogic's customer base.
"12 months ago we made our first product launch and closing our second round today marks the end of a great year for us. In every project where Safelogic's tools have been deployed, customers have found bugs undetected by traditional verifications methods. Customers have realized how Safelogic's PSL property based verification tools used by design engineers bring new verification power early in the design cycle and improve overall verification productivity. With a solid financial base we are now accelerating our marketing efforts," says Hakan Rippe, President of Safelogic.
Safelogic also announced it has named Par-Jorgen Parson, Partner of Northzone Ventures, as new chairman of the Board of Directors. "We are excited about developing Safelogic and to support the expansion of its customer base in Europe, US and Asia," says Par-Jorgen Parson.
About Safelogic
Founded in 1999, Safelogic is an EDA software company developing groundbreaking tools for improved simulation, analysis and verification of system-on-chip (SoC), application-specific integrated circuit (ASIC) and field-programmable gate array (FPGA) designs. Safelogic is based in Gothenburg, Sweden. For more information, please visit www.safelogic.se
About Safelogic Monitor - Simulator Plug-in for Dynamic PSL Property Checking Safelogic Monitor enables property-based simulation of VHDL, Verilog and mixed language designs, provides immediate error tracing and speeds up debugging. With a ramp-up time of minutes, this is the easy way to boost design productivity using PSL properties in a standard simulation environment.
About Safelogic Verifier - Formal PSL Property Checker Safelogic Verifier conducts powerful bug finding without test vectors and offers 100% state coverage of RTL designs. Using Safelogic Verifier is extremely simple: import the design, add the corresponding properties and push the verify button.
About InnovationsKapital
InnovationsKapital was founded in 1994 and is today one of Sweden's leading early stage venture capital firms for innovative growth companies. The business, carried out from offices in Gothenburg and Stockholm, is focused on Nordic investments within ICT and Healthcare & Life Sciences -- dynamic sectors that are rapidly expanding and where Nordic research plays an important role. The capital (approx. EUR 200 million) is managed in three funds and is provided by highly reputable Swedish and international institutional investors. For more information, please visit www.innkap.se
About Northzone Ventures
Northzone Ventures is one of Scandinavia's leading early stage technology venture capital investors with offices in Stockholm, Oslo and Copenhagen. Northzone Ventures plays a very active role in developing promising IT and Telecom companies with international potential. Northzone is managing a total of 150 Million Euro in four funds and has made more than 30 investments since its founding in 1996. For more information please visit www.northzone.com
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