US-based coherent on-chip network technology developer NetSpeed Systems closed a $10m series C round led by Intel Capital, the corporate venturing subsidiary of semiconductor producer Intel, yesterday.
The round included South Korea-headquartered semiconductor supplier SK Hynix and Walden-Riverwood Ventures, the partnership formed by venture capital firms Walden International and Riverwood Capital.
Founded in 2011, NetSpeed provides machine learning-powered on-chip interconnect technology that enables customers to streamline their system-on-chip (SoC) architecture. Intel Capital made the investment out of its Intel Capital Diversity Fund.
Diane M. Bryant, general manager of Intel;s Data Center Group, said: “We are in an era of exciting new applications for technology. This drives the need for complex and high performance SoCs tuned to emerging workloads.
NetSpeed’s interconnect solution which emphasises design topology analysis, high bandwidth support and right-by-design construction, is an important enabling technology which promises to accelerate innovation.”
Intel Capital and Walden-Riverwood Ventures had previously supplied an undisclosed amount of series B funding to NetSpeed in late 2014. Intel Capital’s series C investment was disclosed alongside 12 others, to which it provided a total of $38m.