SANTA CLARA, Calif. -- SandCraft Inc. here announced it has raised a total of $15.8 million in the company's Series B financing round.
The proceeds will be used to further develop technology used in SandCraft's processor cores, which it licenses for use in high-performance multimedia and digital convergence devices. This follows SandCraft's recent licensing arrangement with MIPS Technologies Inc. of Mountain View, Calif., under which SandCraft was given a comprehensive license to use the MIPS32 and MIPS64 processor architecture in its own processor designs (see Oct. 29, 1999 story).
These include designs for digital set-top boxes and interactive gaming systems, as well as other "post-PC" devices requiring high throughput and enhanced multimedia processing capabilities at low cost.
The investments come from a range of companies, including Sony Corp. and Mitsui & Co. Ltd. Other principal investors in this funding round include Allegro Capital, Dain Raucher Wessels, Hikari Tsushin Capital, Kingdon Capital Management, MVC, U.S. Venture Partners and Van Wagoner Capital Management. Thomas Weisel Partners assisted in the financing.
"Sony has always been a strong proponent of a RISC-based CPU architecture, dating back to our original workstations," said Eichi Yura, president of Sony's Platform SOC SolutionCenter in Tokyo. "SandCraft's unique multimedia support and high-performance products make the company an ideal partner in enabling Sony's vision of the convergence device as the center of the home media system in the 21st century,"
Mitsui has made a conscious effort to diversify the company through synergistic investments, particularly in information and telecommunications, said Masato Takeda, general manager of the General Merchandise Group in Tokyo. "Our investment in SandCraft will significantly further that goal in these markets through their enabling core technology," he said.