AAA Semiconductor technology producer SiTime raises $25m

Semiconductor technology producer SiTime raises $25m

US-based semiconductor component maker SiTime closed a $25m series G round on Tuesday, securing $15m in debt from Capital IP Investment Partners and $10m in equity from undisclosed investors.

SiTime had raised just over $65m at the time of a $22m series E round in 2011 that included $15m from Russian state-backed fund Rusnano.

Robert Bosch Venture Capital, the corporate venturing arm of industrial manufacturer Robert Bosch, is a past investor, as are SMBC Venture Capital, the venture capital unit for financial services firm Sumitomo Mitsui Banking Corporation, Greylock Partners, Jafco Ventures, Grazia Equity, New Enterprise Associates, Northgate Capital, CID Group and Camp Ventures.

Rajesh Vashist, chief executive of SiTime, said: “This financing, along with our leadership position, forms an unbeatable combination for future growth and innovation.

“We are pleased that CapIP recognises SiTime’s market and revenue leadership and we value their industry expertise and ability to work with us to tailor the financing to our business objectives and long-term strategy.”

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