Intel Capital Makes Investment in Tela Innovations

Tela Innovations, an early stage technology company focused on addressing the challenges of scaling semiconductor manufacturing to 45nm and beyond, announced that Intel Capital, the global investment arm of Intel Corporation, became a new investor in the company. Intel Capital’s investment was part of the company’s Series B round, which included new investor AsiaTech Management as well as existing investors.

The Series B capital is being used to bring to market Tela’s technology for enabling a more efficient and reliable way to design and manufacture next generation chips. Tela publicly unveiled the details of its strategy and technology for the first time this week.

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

“We are extremely pleased to have Intel Capital as an investor. Intel Capital’s ‘value beyond equity’ approach will be advantageous to us in bringing our technology to market in 2008,” said Scott Becker, co-founder, president and CEO of Tela.

Tela specifically addresses the limitations of current design and lithography approaches that stand in the way of continued scaling of semiconductor processes. Its approach uses pre-defined physical topologies, applicable for use in logic, embedded memory, analog and I/O functions that when synthesized and routed results in a lithography optimized layout.

About Tela Innovations
Tela was founded by Scott Becker (CEO), Dhrumil Gandhi (COO) and John Malecki (Chief Architect), all of whom have background that include work with IP pioneer Artisan Components (now part of ARM). Michael Smayling, whose background includes a CTO role at Applied Materials and a Fellow at Texas Instruments, is Tela’s Senior Vice President of Product Technology. Tela Innovations is a privately held company with funding from Sand Hill Finance Company and Teton Capital Company (both managed by Don Lucas, a Silicon Valley venture pioneer and initial investor in Oracle and Cadence Design Systems), Intel Capital, AsiaTech Investment and Western Technology Investment. Its board of directors includes Donald Lucas, Larry Yoshida, Ray Bingham (former CEO of Cadence), and noted EDA entrepreneur and investor Jim Hogan.

About Intel Capital
Intel Capital, Inte’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing, and cleantech. Since 1991, Intel Capital has invested more than US$6 billion in approximately 1,000 companies in more than 40 countries. In that timeframe, about 157 portfolio companies have gone public on various exchanges around the world and another 187 have been acquired by other companies. In 2007, Intel Capital invested about US$639 million in 166 deals with approximately 37 percent of funds invested outside the United States.