Achronix nabs $43M for gate array technology

Achronix Semiconductor Corp. recently closed $43 million of a large, still open $52 million second round of financing. Argonaut Private Equity led the tranche, which also included existing investors Battery Ventures, New Science Ventures, Easton Capital Investment Group and Entrepia Ventures. These contributors helped the San Jose, Calif. company hit $25.4 in its first round last January. The company plans to use its new funds to develop a new generation of products.

The round is being hailed as one of the largest for a semiconductor company in recent memory, unprecedented considering the state of the economy. But Achronix is confident after the success of its Speedster family of field-programmable gate arrays (FPGAs). The Speedster model allows for faster and generally better performance (up to 1.5GHz) of computer applications and processes, according to PE Hub.