Will accelerate customer engagement and expansion into USA; further broaden technology development
Thalia Design Automation today announced that it plans significant growth in its worldwide operations, following completion of a $2m (£1.52m) funding round led by Deepbridge Capital and with renewed commitment from the company’s existing investor Development Bank of Wales (formerly Finance Wales).
This latest round of funding will enable accelerated development of Thalia’s Re-use Platform-as-a-Service (RePaaS) solutions for analog IP re-use, design migration and portfolio extension, and aggressive expansion of both commercial and engineering activities in the UK, USA and continental Europe.
“Deepbridge is committed to fostering innovation and growth in businesses with truly disruptive market potential, and we believe that Thalia definitely falls into that category,” said Ray Eugeni, Partner at Deepbridge Capital. “We look forward to helping this globally-focused company fully realize the potential of its unique core technology assets, in markets across the world.”
Commenting on behalf of Thalia, Rodger Sykes, Chairman and CEO, said: “Analog design is one of the toughest challenges in the electronics industry today. I believe Thalia is creating a sea change in this key market, enabling our customers to move to an ‘IP on demand’ model, and offering cost and time schedule savings of up to 50%.”
Dr Carl Griffiths, Fund Manager at the Development Bank of Wales, commented: “Having been involved with Thalia since the early stages of its development, we’re delighted to see the fantastic progress the company has already made in the high value global technology space. Our follow-on investment in this latest funding round demonstrates our strong belief that Thalia has all of the tools to make the most of a massive market opportunity.”
As part of its continuing expansion, Thalia plans to grow its technology development capabilities in the UK and India, as well as establishing a strong presence both in Continental Europe and the USA. The company’s Re-use Platform-as-a-Service (RePaaS) solution combines an innovative methodology, advanced design automation technology and experienced analog engineering resources. It helps analog IP providers to maximize re-use of their existing product portfolio, to create new product variants quickly and easily, and to adapt their designs for manufacture using any semiconductor foundry service.
About Deepbridge Capital
Formed in 2010, Deepbridge was founded with the aim of building an investment team that could redefine the growth capital market. Its purpose is to provide reassurance to investors by enabling them to invest alongside its team of passionate, experienced and fair-minded specialists. A genuine blend of people who know what it’s like to run a business and who have a balanced approach between being good investors, strong managers and practical operators.
Deepbridge believes in supporting, mentoring and investing alongside energetic, high performance management teams. Its ambition is to help businesses achieve their full potential and thereby provide the best possible outcomes for investors.
Deepbridge promotes a culture of professional excellence and integrity: it therefore strongly encourages its investee companies to achieve the highest standards of corporate governance. Deepbridge brings value to investee companies through its proven experience of building growth businesses, involving its network of investors, technology advisors, and industry partners.
About Development Bank of Wales
The Development Bank of Wales was set up by the Welsh Government to support the economy of Wales by making it easier for businesses to get the finance needed to start up, strengthen and grow. The purpose of the Development Bank is to unlock potential in the economy of Wales by increasing the provision of sustainable, effective finance in the market.
Launched in October 2017, it is a cornerstone organisation for delivery of public sector financial products, supporting micro to medium businesses in Wales and increasing the supply of finance. It promotes economic development through an adaptable delivery model that is responsive to market needs whilst providing continued value for money for public funds. It delivers key Welsh Government policy objectives measured through performance targets and providing investment management and support services across the whole of Welsh Government.
The Development Bank of Wales invested £80m across 420 investments in the financial year 18/19, which in turn attracted £126m in private sector investment.
Media centre: www.developmentbank.wales/media