Contact Information: Media Contacts: Susan Cain Cain Communications for Sidense Tel: 503-538-2747 Email: Jim Lipman Sidense Tel : 925-606-1370 Email :
Sidense Raises $6 Million in Venture Capital to Expand Global Reach
Low-Cost Memory IP Solution Provides Increased Density and Security for Consumer Electronics Applications
| Source: Sidense
OTTAWA and TEL AVIV, ISRAEL--(Marketwire - March 5, 2008) - Sidense, a developer of memory
semiconductor intellectual property (MSIP) cores for the Logic Non-Volatile
Memory (NVM) market, announced today that it has raised $6 million in a
venture capital financing round co-led by Vertex Venture Capital, a leading
Israeli venture capital firm, and Tech Capital Partners of Waterloo,
Canada. New investors joining the round are NTT Finance Corporation of
Japan and Trellis Capital of Canada. The funds will be used to expand the
company's global marketing and sales efforts.
MSIP cores are memory design blocks that are used by semiconductor and
electronic systems companies in the design of complex integrated circuits
and systems-on-chips (SoCs), which are found in various applications such
as flat panel displays, set-top boxes, wireless networks, PDAs, mobile
phones, multi-function machines, radio-frequency identification (RFID)
tags, and satellite radios. Sidense's proprietary split-channel antifuse
technology enables the design and development of one-time-programmable
(OTP) or multi-time-programmable (MTP) memory blocks that are reliable,
low-cost, scalable and secure alternatives to discrete flash, Mask ROM and
embedded flash memory.
"We were especially impressed by the Sidense team -- experienced
entrepreneurs with a great mix of business acumen and technological
expertise," said Robert Genieser, Managing Partner of Vertex Venture
Capital. "The company has created a large base of customers, and achieved
strong initial revenue growth. Sidense is an emerging leader in this fast
growing market."
"The semiconductor industry is driven by a constant need to reduce size and
cost and Sidense has found a way to significantly increase memory density
at a lower cost point than its competitors," said Andrew Abouchar, Partner,
Tech Capital Partners. "When you consider the area of an SoC consumed by
memory, the disruptive nature of Sidense's technology becomes clear."
"With limited marketing efforts to date, Sidense has generated strong sales
of its Logic NVM products," said Xerxes Wania, Chief Executive Officer,
Sidense. "Several of our customers are currently in production using our
memory IP and now is the ideal time to globally promote our technology and
products to future customers."
About Sidense Corp.
Sidense Corp., listed on EE Times 60 Emerging Startups list for 2008,
focuses on developing non-volatile memory IP cores to be embedded onto
standard logic CMOS ASICs and custom integrated circuits. Sidense's
1T-Fuse™ technology is ideal for feature sizes of 180nm and smaller.
Applications include electrical fuse replacement, flash and mask
programmable ROM replacement, code storage, RFID, unique ID, encryption,
key storage and digital rights management (DRM). The company has offices in
Mississauga and Ottawa, Canada and sales offices in USA, Israel, France,
Korea and Japan. For more information, visit http://www.sidense.com.
About Vertex Venture Capital
Vertex Venture Capital is a top-tier Israeli VC with a strong international
investor base, an experienced multi-disciplinary team of professionals, and
an impressive track record of exits through M&A and IPO. Vertex provides
unparalleled possibilities for companies in facilitating potential growth,
business opportunities and leveraging synergies throughout Israel, Europe,
North America, Japan and Asia. Vertex invests in technology companies in
early stages of development in information networking and communications
systems, software and components, digital media and enterprise software.
For more information: http://www.VertexVC.com.
About Tech Capital Partners Inc.
Based in Waterloo, Ontario, Tech Capital Partners manages $95 million in
venture capital. Tech Capital provides seed financing, hands-on leadership,
market strategy and operational guidance to early-stage technology
companies that have the potential to compete at a global level. Since its
inception in 2001, Tech Capital has invested in some of Canada's most
innovative high-tech companies, including: AideRSS (www.aiderss.com),
Covarity (www.covarity.com), LiveHive Systems (www.livehivesystems.com),
OverlayTV (www.overlay.tv), Sandvine (TSX : SVC ) (AIM : SAND )
(www.sandvine.com), Sidense (www.sidense.com), Sirific Wireless
(www.sirific.com), Software Innovation (www.softinn.com) and VideoLocus
(acquired by LSI Logic). An active advocate of innovation and
entrepreneurship, Tech Capital maintains a strong presence in the
technology business community. For more information, please visit
http://www.techcapital.com.
About NTT Finance Corporation
NTT Finance Corporation was established in 1985 as the first affiliate of
NTT, which is the largest telecommunications company in Japan. NTT Finance
Corporation offers various business services; leasing and installment,
credit card and finance. In addition, their Strategic Technology Investment
Department seeks out venture companies domestically and internationally
with excellent technologies and provides them with financial and business
development. For further information, visit
http://www.ntt-finance.co.jp/eng/.
About Trellis Capital
Trellis Capital is a Toronto-based, private venture capital firm. Trellis
invests in compelling technology companies in the electronic,
manufacturing, materials, energy and environmental sectors at various
stages of technology development and commercialization. In addition to
providing capital, Trellis offers its companies hands-on operational
assistance where required and access to its Canadian and international
networks. For more information please visit http://www.trelliscapital.com.