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Arctic startup secures $4.5 million funding

September 03, 2008 | | 210300180
Arctic Silicon Devices (Trondheim, Norway), a startup company led by executives previously with Nordic Semiconductor ASA, has secured 25 million Norwegian Krone (about $4.5 million) in a second round of funding.
LONDON — Arctic Silicon Devices AS (Trondheim, Norway), a startup company led by executives previously with Nordic Semiconductor ASA, has secured 25 million Norwegian Krone (about $4.5 million) in a second round of funding.

The fabless semiconductor company said it plans to develop, market and sell standard IC components within application segments where high performance analog interface circuitry and high speed data conversion are key requirements.

The company said at its website that it has eight analog-to-digital converters ranging from 12-bit resolution at 50 megasamples per second to 8-bit resolution ADCs at 250 megasamples per second. The company does not indicate where it is getting its silicon made. The chief technology officer is Oystein Moldsvor, who was previously CEO of Chipidea Microelectronica Norway AS. Chipidea was familiar with Taiwan Semiconductor Manufacturing Co. Ltd. (Hsinchu, Taiwan) as a foundry supplier.

The second round investors are Incitia Ventures AS and Proventure Seed AS investing 20 million and 5 million NOK respectively. Proventure Seed provided 4 million NOK (about $700,000) in October 2007.

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