LONDON – Fabless mobile computing chip company Ineda Systems Pvt Ltd. (Hyderabad, India) is planning to raise $20 million over the next few months, according to local reports. The company is also busy recruiting hardware and software engineers.
The company, founded in 2010 by Balaji Kanigicherla, has 150 engineers and plans to add 50 more in the next six to eight months, a Business Standard report said, adding that Ineda plans to launch three products by 2013 aimed at smartphones, tablet computers, and laptop computers.
The use of the term platform implies that Ineda will bundle software, firmware and application processor SoC and equipment-level design together to provide OEM customers with a fast route to producing mobile computing devices.
Ineda claims to have a novel system architecture, working in FPGA prototype form, that can improve the power/performance metrics by an order of magnitude compared with existing system architectures. The company is reported to have a portfolio of 28 patents granted or pending.
LinkedIn listed Ineda engineers have IC design experience with such companies as Broadcom, NVidia, Soctronics, ST-Ericsson, Texas Instruments, Wipro and PortalPlayer. The company is looking for more engineers familiar with SoC synthesis, verification and physical design and software engineers that can write a BIOS and driver software for Windows, Linux and Android systems.
The Business Standard reported Kanigicherla, founder and CEO, as saying that Ineda is in discussion with potential investors including venture capitalists, private equity firms and individual investors but that it was looking to raise the money in the form of debt.
"Currently, the products are in the prototype stage. The manufacturing will be done by some semiconductor fab companies in Taiwan," the Business Standard report quoted Kanigicherla, as saying.
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