Efabless Raises $6.3 Million in Series A-1 Extension, Featuring Investments from GlobalFoundries, Synopsys, and New North Ventures

PALO ALTO, Calif., Oct. 10, 2023 (GLOBE NEWSWIRE) — Efabless Corporation, the creator platform for the design, development and commercialization of custom integrated circuits (“ICs” or “chips”), announced the closing of a $6.3 million extension of its Series A-1 venture funding. Investors in the round include GlobalFoundries, Synopsys, New North Ventures and a select group of individuals. The proceeds will be strategically utilized to fortify business development, marketing, and further product development.

Mike Wishart, CEO and Co-founder of Efabless, said, “We are excited that GlobalFoundries has joined Synopsys and New North Ventures as investors in Efabless. GlobalFoundries brings a long history of success as an industry-leading foundry and an impressive portfolio of essential technologies. The support from GlobalFoundries and Synopsys signifies strong industry confidence in our community-based development and decentralized design approach to dismantle barriers in chip creation. With their support, and that of our other partners, we are democratizing the chip creation process from design to production by making it simple, affordable and accessible, thereby enabling more designers in burgeoning markets such as IoT, Artificial Intelligence and Machine Learning.”

About Efabless
Efabless offers a platform applying open source and community models to enable a global community of chip experts and non-experts to collaboratively design, share, prototype and commercialize special purpose chips. Approximately 1000 designs and 500 tapeouts have been executed on Efabless over the past two years. The company’s customers include Fortune 100 companies, startups, universities, and research institutions around the world. The Efabless model is extensible to advanced packaging, software and systems. Efabless is headquartered in Palo Alto, California. For more information, visit www.efabless.com.

Press Contact
Andrea Vedanayagam
andrea@efabless.com
408.656.4494

 

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