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Sidense raises $5.6M in VC financing

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Published on October 17, 2011; Published on October 17, 2011
OBJ Staff

Memory chip maker Sidense Corp. has raised another round of venture funding, this time garnering $5.6 million.

Topics :: Ontario Emerging Technologies Fund , Tech Capital Partners

The series-C round included participation from new funder Ontario Emerging Technologies Fund and previous investors Tech Capital Partners, VentureLink, and Vertex Venture Capital.

"With the current financing, we are in an extremely good position to introduce our next generation of products," stated Xerxes Wania, Sidense's CEO and president.

Sidense, named an OBJ Startup to Watch in 2007, previously received about $5.5 million of venture capital funding in 2006, $6 million in 2008, and $5 million in 2010.

The company's IP is billed as an alternative to memory technologies such as embedded flash, and is used in the design of integrated circuits and systems-on-chips. Applications include automotive, industrial, mechnical and communications.

Customers include companies such as Fujitsu, UMC and ParkerVision and the firm says it has 70 patents granted or pending.

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