Tela funding tops $5M, includes Intel’s VC arm

Feb. 27, 2008 – Startup Tela Innovations says Intel Capital was part of its Series B round of funding, which closed in mid-2007. New investor AsiaTech Management also joined existing investors Sand Hill Finance, Teton Capital, and Western Technology Investment.

Total funds raised so far is about $5M, including the Series B round which followed a Series A round closed in mid-2006, a Tela rep told WaferNEWS. All investors participating in both rounds.

“The need for new scaling techniques in the semiconductor manufacturing industry is significant,” said Sean Doyle, director at Intel Capital, in a statement. “Tela Innovations is addressing challenges in semiconductor design and manufacturing for companies working at leading edge process geometries.”

Tela cofounder/president/CEO Scott Becker added that Intel Capital’s “‘value beyond equity’ approach will be advantageous to us in bringing our technology to market in 2008.”


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