Product category:
Design and Development Software
News Release from: Vast Systems Technology
Edited by the Electronicstalk Editorial
Team on 25 May 2005
Vast sums secured for research
Vast Systems Technology Corporation has secured $12 million in round C funding to increase research and development and field support resources.
Vast Systems Technology Corporation has secured $12 million in round C funding The lead investor for the round is Foundation Capital
This article was originally published on Electronicstalk on 22 Jun 2004 at 8.00am (UK)
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Vast will use the additional funds to increase research and development and field support resources.
With this funding round, Mike Schuh, Foundation Capital general partner, joins Vast's board of directors.
Mohr Davidow Ventures, which led Vast's B round, and Allen and Buckeridge, which led the A round, also participated in this financing.
"Foundation was very pleased to be able to lead this C round for Vast", remarked Mike Schuh, Foundation Capital General Partner.
"Embedded system design automation is critical and is today a dramatically underserved area".
"With system on a chip (SoC) functionality rapidly migrating from hardware to embedded software, Vast's virtual system prototypes in software, which run nearly as fast as the hardware device and are cycle accurate, are providing a huge competitive advantage for their customers".
"With Vast, users are starting software development coincident with the hardware development and cutting nine to twelve months off their development cycles".
Customers use the Vast Comet and Meteor tools together with virtual processor, bus and peripheral models to develop virtual system prototypes during the architecture definition, exploration and optimisation phase of the embedded systems design process.
These become the actual platforms, the golden reference models, for developing software and for driving hardware design.
The high performance, timing accuracy, high observability and controllability of virtual system prototypes, in comparison with silicon, make them indispensable in an efficient engineering process.
"As an innovator with solid customer success, Vast is at a pivotal point for increasing R and D and field support resources", said Alain Labat, Vast President and CEO.
"This round of funding allows us to suitably augment our world class team".
"We are delighted to have Foundation Capital as a new investor and Mike Schuh's presence on our board".
"Mike's experience and expertise will add tremendously to our resource base".
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