September 12, 2007 – Nascentric Inc., a provider of Fast-SPICE simulation and analysis tools, says it has closed a $7.2 million Series C round of financing. Joining the firm’s backers is new investor Intel Capital, with existing investors Austin Ventures, Silverton Partners, Needham Capital and EDA veteran Jim Solomon (founder of SDA, which later became Cadence Design Systems). The money will be used for further product development and expanding the company’s sales and support capabilities, Rahm Shastry, president and CEO, said in a statement.
The company’s flagship product, AuSIM MT, utilizes current-based SPICE simulation models and multi-threaded simulation capabilities to deliver unmatched speed, capacity and accuracy for design verification, the company claims.
“Nascentric has developed a novel technology to meet the growing challenges of sub-65nm process node design verification,” stated Sean Doyle, director at Intel Capital. “We believe Nascentric will continue to make noteworthy contributions to next generation design verification methodology.”
The Austin, TX-based company was founded in October 2003. Shastry came from marketing positions at Cadence and Viewlogic; CTO John Croix has characterization and timing tool experience at AMD, IBM, and TI. Other top technology and business execs at the firm have backgrounds at various smaller industry companies. Its technical advisory board includes scientists from Carnegie Mellon, the U.s of Toronto, Michigan, and Texas.