LONDON Power semiconductor start-up Ciclon Semiconductor Device Corporation has closed its first round of financing at $12 million. Main investors were venture capital groups TL Ventures and Venrock Associates.
Ciclon was established in March 2005 to design laterally-diffused MOSFETs for the communications infrastructure and computer systems markets. A month later the Bethlehem, Pa-based company acquired some R&D and manufacturing assets, as well as inventory for the ARF4 and ARF5 high-voltage LDMOS technologies from Agere (Allentown, Pa.) when the latter exited the LDMOS business.
“This investment allows Ciclon to dramatically broaden its product portfolio while accelerating go-to-market activities," said Mark Granahan, Founder, President, and CEO of Ciclon.
Michael Feinstein of Venrock Associates joins Michael Burns and F. Javier Fernandez of TL Ventures as directors on Ciclon's board.
Earlier this year, the Ben Franklin Technology Partners of Northeastern Pennsylvania, a state-funded economic development initiative that supports early-stage technology firms, invested $150,000 in Ciclon.