Intel Capital, the investment arm of the world's largest chip maker, has take part in a third round of venture capital funding for France-based Esterel Technologies. The funding is worth €12.3m.
Esterel is a supplier of software for the development of embedded systems, in particular tools based on the formal design language Esterel which was the subject of research at French academic institutions during the 1990s. The company's main product, Esterel Studio, uses formal methods to automate design verification.
Intel Capital joined Advanced Capital Europe, CDC Innovation Partners and Galileo Partners in the third round. The chip giant has previously invested in companies working on formal tools.
Esterel said the extra funds would help to extend its operations in North America, UK, Germany, Scandinavia, and Asia.
"Suppliers of embedded systems face the dilemma of time to market and maintaining quality. Formal methods assist in speeding the verification, testing and validation of device designs, from safety critical embedded software inside cars or airplanes to electronic chips inside wireless or Internet devices," said Eric Bantégnie, president and chief executive officer of Esterel Technologies.
Peter Clarke is European correspondent for US sister newspaper EETimes.