Silicon Valley Bank provides $9m in venture debt to Picochip, a UK-based supplier of computer chips.
Picochip, a UK-based supplier of computer chips, has raised $9m in venture debt from Silicon Valley Bank, the commercial banking division of Nasdaq-listed SVB Financial Group.
In June, Samsung and Intel’s corporate venturing units backed PicoChip’s $20m sixth equity funding round.
The debt facility consists of a $4m three-year term loan and a two-year $5m working capital line of credit.
Phil Cox, head of UK, Europe and Israel for Silicon Valley Bank, said: "Picochip is an exceptional business…
