Silicon Clocks takes $7.1M for processor timing devices

Silicon Clocks, a Fremont, Calif. maker of smaller, cheaper chips with timing capabilities, has brought in $7.1 million of a targeted $10.7 million round of equity. The company says it will use the financing for working capital, reports VentureWire.

It last raised funds in 2007, adding $8 million to its then $19 million first round of funding. Past backers include Charles River Ventures, Formative Ventures and Tallwood Venture Capital.