LONDON Privately-held graphics chip vendor LucidLogix Technologies Ltd. (Kfar Netter, Israel) has received an additional $8 million in funding from current investors Rho Ventures, Giza Venture Capital and Genesis Partners, bringing total capitalization to $40 million.
The money is intended for sales support, to accelerate the market penetration of current products and for research and development of future technologies, the company said.
Lucid, founded in 2003, provides the Hydra 100 and Hydra 200 distributed processors, which organize and direct graphics pipeline data so that graphics performance can be scaled using graphics processing units from any vendor for performance and system flexibility. Target markets for the company include motherboards and add-in boards for desktops.
"The confidence level of our investors has come from our ability to successfully launch and deliver our second generation Hydra 200 product to mass production, which is already on motherboards from one of the top three manufacturers in the world, MSI, and with more partners in the pipeline," said CEO Moshe Steiner, in a statement. "The additional investment will enable the company to expand to international markets and boost sales."
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