SOURCE: ITU Ventures

October 26, 2006 15:13 ET

ITU Ventures Leads $3.5 Million Financing for Chip Estimate Corporation

Capital to Be Used for Expansion of New Business Model in Electronic Design Automation

LOS ANGELES, CA -- (MARKET WIRE) -- October 26, 2006 -- ITU Ventures announced today that it has led a $3.5 million financing for Chip Estimate Corporation, the leading provider of architectural-level chip planning solutions. This news was previously released by Chip Estimate Corporation. This is a follow on round of funding for the company, which has raised $5.5 million since its inception in 2003. The proceeds will be used to fund working capital growth and accelerate the product roadmap for establishing tight and meaningful integration of architectural plans with industry-leading EDA implementation systems.

"We are excited to provide additional capital to Chip Estimate to further expand their business model which is novel in the EDA industry," commented Jonah Schnel, Managing Partner of ITU Ventures. "Actively harnessing the power of the Web to aggregate the IC design community and then provide an extremely valuable and user-friendly tool has never been done in EDA."

Chip architects, those who plan chip projects and assess project viability from a technical and economic perspective, have traditionally been outside the classic EDA design loop. Plans and specifications were unconnected from IC design flows, and optimizations of IP and architectures were left to design teams at the implementation stage of design. With the recent announcement of InCyte Enterprise, Chip Estimate introduced the first architectural-level system that incorporates the same technology data that had previously only been used later in the flow, putting the information at the architects' fingertips and enabling accurate "what if" analysis before logic design begins. With accurate early plans now possible, driving constraints, IP, technology and architecture decisions into the implementation flow promises to significantly minimize late-stage time consuming and costly optimization iterations.

"Our community of chip planners has grown to 9,000 users who collectively have performed over 40,000 chip estimates with our systems," commented Adam Traidman, president of Chip Estimate. "With the introduction of InCyte Enterprise and even greater accuracy in estimates, we are responding to customers' requests for an even tighter link between the specifications and their EDA flows. We are thrilled that Jonah Schnel and Chad Brownstein of ITU Ventures have continued to provide the investment capital to help us meet the previously unmet needs of the IC design community."

About ITU Ventures

ITU Ventures is the premier venture capital firm serving the unique needs of technology businesses emerging from the nation's leading research universities, federal labs and technology corporations. ITU Ventures invests in early-stage companies that are commercializing next-generation communication and semiconductor-related technologies. Jonah Schnel and Chad Brownstein are the Managing Partners of ITU Ventures. www.itu.com.

About Chip Estimate Corporation

Chip Estimate Corporation is an EDA company that delivers streamlined access to integrated chip project planning solutions. The company develops and markets the InCyte chip estimation systems, into which it integrates IP and manufacturing process models for the most accurate estimation possible. InCyte performs estimations of chip die size, power, leakage, yield, and cost and allows for rapid "what if" analysis at the architectural stage in the design flow. InCyte systems range from the free InCyte Lite to InCyte Enterprise, used by leading semiconductor companies to refine chip size, power and cost estimates throughout chip implementation flows. Chip Estimate partners with leading IP vendors and semiconductor manufacturers who share our mission of early and accurate chip planning for our mutual customers' ultimate design success. Since the 2005 launch of ChipEstimate.com, over 9,000 users have performed over 40,000 chip estimations with InCyte. www.chipestimate.com

InCyte, InCyte Enterprise and ChipEstimate.com are registered trademarks of Chip Estimate Corporation. Chip Estimate Corporation acknowledges trademarks or registered trademarks of other organizations for their respective products and services.

Contact Information

  • For more information contact:

    ITU Media
    Keka Schermerhorn
    (310) 777-5913

    Chip Estimate Media
    Georgia Marszalek
    ValleyPR
    (650) 345-7477