University of Michigan’s Mints vehicle joined existing investor Intel Capital for SOC producer Movellus’ series A round, which increased the company's overall funding to $10m.
US-based computer-on-a-chip manufacturer Movellus secured $6m on Monday in a series A round backed by University of Michigan’s Invests in New Technology Startups (Mints) fund.
The round was led by Stata Venture Partners, the venture capital firm founded by Ray Stata, co-founder and chairman of chipmaker Analog Devices, and also featured Intel Capital, the corporate venturing arm of semiconductor manufacturer Intel.
Founded in 2014, Movellus has developed a technique for producing integrated circuits that feature all the components of a given computer or electronic system – known by the industry term system-on-a-chip (SOC).
The company has created a digital platform that will automatically print analogue blocks on the circuit board, enabling the design process to be scaled to suit applications with high-performance requirements such as cloud computing and artificial intelligence.
Movellus will invest the series A capital in expanding its infrastructure in response to customer demand, while also building out its product range.
The round took the total raised by the company to $10m, it said. It had received a total of $1.9m in convertible note financing when Intel Capital added an undisclosed amount of funding in May 2018, before it secured $1.6m in another Intel Capital-backed round in December 2018 according to securities filings.
