According to the company, the funding will be used to capitalise on its successful chipIgnite and Google-sponsored Open-MPW programmes. Efabless will use proceeds to support business development and marketing, and to support further product development.
According to Jeremy Hitchcock, partner at New North Ventures, “We invest in companies that tackle big problems for big markets and Efabless does exactly that. They created an open source and community platform that changes the formula for chip design, reducing the friction to learn, develop, and manufacture chips. By making the process more affordable and accessible, they can empower more designers in exploding markets like IoT and Machine Learning where the benefits of purpose-built silicon can be 1000x faster and more power efficient."
Mike Wishart, CEO and Co-founder of Efabless, said, “We are excited to work with New North Ventures. They bring a powerful combination of private and public sector experience – and very importantly, they are smart and savvy entrepreneurs. New North shares our vision and we look to them as a valuable source of wisdom and advice as we build on our success and democratise chip design.”
