Product category:
Design and Development Hardware
News Release from: Nallatech
Edited by the Electronicstalk Editorial
Team on 25 December 2003
Further funding gears Nallatech for
sales assault
Nallatech has secured GBP 2 million in a second round of funding from existing investors, 3i and Scottish Equity Partners.
Nallatech has secured GBP 2 million in a second round of funding from existing investors, 3i and Scottish Equity Partners 3i has invested GBP 1.5 million in this round, with a further GBP 0.5 million invested by Scottish Equity Partners
This article was originally published on Electronicstalk on 26 Apr 2001 at 8.00am (UK)
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Both invested identical amounts in Nallatech's first investment round in 2000.
The new round of funding will be used to fuel a concentrated sales and marketing push into the US marketplace in 2004, building on the company's existing base of blue chip customers.
This next intense phase of the company's development will be further boosted by the appointment of new Chairman, Iain Robertson - currently also the Chairman of Cambridge Semiconductor - to the Nallatech board.
Further reading
FPGA-centric platform for a terabit future
The Benera is a reconfigurable computing platform that Nallatech claims takes FPGA systems to TeraOPS performance.
FPGA cores aim to beat DSPs at floating point
Nallatech has launched a fully IEEE754-compliant single-precision floating-point core library which now allows Xilinx's FPGAs to exceed the floating-point performance of the latest DSPs.
Nallatech is one of the world's most innovative companies in the technically challenging FPGA systems market.
The versatility of these programmable systems makes them suitable for many technology applications where performance requirements are extremely high and flexibility and speed to market are critical, e.g next generation mobile telecoms infrastructure.
Nallatech has achieved a reputation as a world leading developer of FPGA solutions and has established a base of blue chip customers in key market sectors, including telecommunications, defence and imaging.
Now, as Nallatech gears up for this next phase in its development, it will be building on these first successful inroads into the market by investing in US - and European - sales operations.
This will ensure that the company maintains its recent rapid sales growth over the next two years.
"We are delighted to receive this second round of funding", said Allan Cantle, President and CEO of Nallatech.
"With Iain coming on board as well, this is an exciting time for the company, as we shift our focus from developing innovative product solutions to building a global market position".
"We are delighted to able to back Allan and his team in a further round of funding", said Robin Marshall of 3i.
"Nallatech has demonstrated the ability to not only produce world class technology but to sell that product into a very competitive global marketplace".
Gordon Beveridge, of Scottish Equity Partners' IT team agreed, adding: "This is a good example of a strong company that has steadily built its business over the last three years, ignoring the ups and downs of the technology marketplace and concentrating on developing both first rate technology and strong customer relationships".
"As we've worked with the company over the last three years we've seen that the management team has been focusing not just on building good technology, but also a very good business".
"Nallatech is in a strong position in a fast growing marketplace.
We look forward to seeing them becoming a dominant global player in that marketplace".
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