SUNNYVALE, Calif. -- Silicon Magic Corp., a five-year-old company that is working on embedded DRAM VLSI and other DRAM components for the information appliance market, has completed its third round of financing for $21 million.
The company raised $25 million in two previous rounds. The company plans to use these new funds for the continued development of the company's infrastructure and to bring several new embedded memory products to market.
"We have reached a new phase in the company's growth," said Ray Campbell, CFO for Silicon Magic. "Earlier funding made possible the development of our DRAM products and expansion into new product areas. Now, the development phases for those products are nearing completion and we are ready to ramp up production and enter new markets."
Campbell said Silicon Magic plans to expand and develop fabrication capacity with its foundry partners, get the new embedded memory products into full production, hire new personnel, and implement an aggressive marketing program.