Codasip secures $2.8 million first round of funding, led by Credo Ventures

SAN JOSE, USA & PRAGUE, CZECH REPUBLIC: Application specific processor design tool and IP provider Codasip, announced that it has closed its first round of public funding totaling $2.8 million.

This new investment will be used to further develop Codasip's unique technology that enables ASIP's to be programed using the same standard flows as existing processors. This innovation is key to eliminating the traditional complexity associated with ASIP designs and transition ASIP usage from a niche into mainstream design.

Funding is being led by Credo Ventures, a venture capital firm based in the Czech Republic, and includes additional funds from multiple private investors.

The rapid growth of mobile devices, the internet of things (IoT) and personalized medicine is driving demand for extremely low power processors that perform very specialized tasks. ASIP's address this need by optimizing the processor instruction set to the needs of the application, or class of applications.

This optimization can improve performance by orders of magnitude over traditional processing techniques. However, traditional approaches require highly specialized knowledge and are complex to deploy. Codasip's unique electronic design automation (EDA) tools and IP make it extremely easy to develop and program ASIP designs, delivering the power of ASIP with the simplicity of standard processors.

Codasip recently released version 2.0 of the Codasip Studio ASIP platform, further extending its technology leadership in the market. This new funding will be used to accelerate the existing product roadmap for EDA tools, as well as expanding the range of Codix IP cores that it will bring to market.

In addition to expanding R&D activities the funding will be used to enable international expansion. Codasip has recently expanded its business development and sales presence in the US, and Europe, and will be expanding to other regions during the remainder of 2014.