Presto Engineering Raises US$6M in Funding
Published On January 21, 2011 |
Presto Engineering, Inc., a San Jose, California-based provider of product engineering services and hardware to IDMs and fabless vendors, from first-silicon characterization to product release and testing, has raised US$6m in funding.
The round was led by CM-CIC Capital Privé, with participation from existing investor Masseran Gestion.
The company intends to use the capital to further strengthen its services for RF and 3-D semiconductor integration from the existing hubs (Silicon Valley, Grenoble and Normandy, France) and to expand worldwide.
Presto is currently engaged in a multi-year collaboration with CEA-Leti to develop test and analysis capabilities for 3-D/TSV devices. The new funding will enable the company to further strengthen its services for RF and 3-D semiconductor integration from the existing Hubs and for regional expansion of new Hubs.
Founded by CEO Michel Villemain, Presto Engineering introduced a labless model that enables chip companies to outsource critical functions requiring high rates of capital investment, substantial facility space, and specialized personnel. This model is designed to reduce costs and frees up corporate resources for their core business of designing advanced devices and bringing them to market.