Achronix Semiconductor Corporation, a Santa Clara, California-based provider of field-programmable gate arrays (FPGAs), held an over $40m first close of a $45m Series C mezzanine financing.
The round was led by a syndicate of financial and strategic investors and all of Achronix’s existing investors participated in the financing.
The additional $5m will be closed in the next 60 days.
The company intends to use the proceeds of the financing to accelerate investments in Speedster22i FPGAs and future products. Based on Intel’s 22nm process technology, Achronix’s Speedster22i devices offer cost-effective production of high performance, high density, IP-rich FPGAs.
The company operates sales offices and representatives in the United States, Europe, China, Japan, and Korea, and has research and design offices in Ithaca, N.Y., and Bangalore, India.