Tela Innovations, a Campbell, Calif. firm working to streamline semiconductor designs and manufacturing, has added three investors to close a $5.5 million third round of funding, reports VentureWire. The new backers, Cadence Design Systems, KT Venture Group and Qualcomm, join past contributors Intel Capital, AsiaTech Management, Sand Hill Finance, Teton Capital Group and Western Technology Investment.

The company plans to use the money to commercialize its semiconductor designs, aimed at efficiently scaling their processes.

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.