Thalia, a Cwmbran, UK-based provider of a software platform that enables semiconductor businesses to develop new products using existing chip designs, raised £2.1M in funding.
The round, which brought the total raised by the company to date to over £5.3m, was led by Mercia Ventures with participation from Deepbridge Capital and private investor Guillaume d’Eyssautier.
The company intends to use the funds to broaden the scope of its operations, further develop its AMALIA software suite and strengthen its board with the appointment of a number of industry experts. It also plans to expand its engineering team, with the creation of around 20 new jobs in total in the next 12 months.
Founded in 2011 by Sowmyan Rajagopalan, CEO, Thalia provides the Amalia platform, which incorporates AI (artificial intelligence) and ML (machine learning), to enable semiconductor businesses to re-use their existing intellectual property (IP) for new technologies and applications. They can quickly diversify and monetise their existing portfolio of designs, while allowing in-house engineers to focus on new product development.
The company, which now employs a team of 26 in Cwmbran in Wales, and an office in Chippenham, achieved its first sale in 2015 and has since completed over 50 projects for clients. Thalia sells to clients worldwide and has increased revenue by over 300% in the past two years. It has recently embarked on a sales drive in Europe, Israel, and China.
FinSMEs
20/07/2023