SANTA CRUZ, Calif. Riding a wave of new venture capital funding for EDA companies, IC physical design provider ReShape Inc. announced Wednesday (June 30) that it has closed a $12 million round of series C funding. ReShape is among nine EDA companies who have collectively received over $87 million in the first six months of 2004.
ReShape began life as a design services firm, and entered the EDA software market in 2003. The company's PD tool suite claims to automate the full-chip construction process, reduce die sizes, enable "replayable" physical design, and ensure IP quality.
American River Ventures led the latest round of funding, which included the Bay Area Equity Fund managed by JP Morgan Chase & Co. ARV managing partner Corley Phillips will join ReShape's board of directors. ReShape has raised a total of $31 million in funding.
ReShape will use the new funding to expand its sales and customer support capability worldwide, and to build an operational infrastructure to support faster growth.
ReShape's announcement closely follows two other EDA funding announcements. Last week, Emulation and Verification Engineering (EVE) announced a $7.2 million win, and Silicon Design Systems claimed $6.7 million. Other EDA venture capital announcements in 2004 include the following:
- Atrenta, June 9, $11 million
- Jasper Design Automation, June 7, $13.5 million
- Golden Gate, May 28, $9 million
- Tera Systems, April 6, $14 million
- Kimotion, Feb. 18, $3.9 million
- Carbon Design Systems, Jan. 14, $10 million
These deals total $87 million, exceeding the $75 million that 13 EDA companies raised in 2003, according to figures from the Venture Wire