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05/22/2007

Mitrionics Secures $6 Million in Venture Capital Funding

 

Mitrionics AB, developer of the Mitrion Software Acceleration Platform, recently announced it has closed $6 million of venture capital funding from three investment firms: Grande Ventures, LLC, is a United States based firm and lead investor in this round, and Creandum and Teknoinvest, are Scandinavian based firms and share holders in Mitrionics based on previous investments. Mitrionics will utilize the funding to further enhance its technological and market leadership in FPGA-based accelerated computing by expanding its international sales and support operations and increasing its research and development efforts. Mitrion-accelerated applications provide a dual customer benefit by increasing application performance up to 20x or greater over traditional processors, while enabling hardware to execute the applications using only a fraction of the power consumed by traditional processor clusters.

“Mitrionics has made a significant industry impact with its software acceleration technology,” said Michael Antone, Partner at Grande Ventures, and newly-appointed member to the Mitrionics Board of Directors. “Grande Ventures is very enthusiastic about Mitrionics’ role in the emerging accelerated computing market and we look forward to helping them reach their next levels of growth, organization, and success.”

“We’re pleased to announce this latest round of financing from our new investment partner Grande Ventures and our long-standing investors Creandum and Teknoinvest,” stated Anders Dellson, CEO of Mitrionics AB. “Customer demand for our software acceleration technology is strong and growing, especially in bioinformatics. With this new investment, we will grow our team and add resources both in the US and in Sweden. We will focus on continuing our technology leadership in FPGA-based computing by expanding the Mitrion platform and bringing more Mitrion accelerated applications to the market.”

Founded in 2001, Mitrionics AB is the technology leader in the exciting new field of FPGA Accelerated Computing which provides higher processing power and lower energy consumption than traditional CPU clustered computer systems. The Mitrion Platform is unique software acceleration solution that eliminates the need for circuit design skills, thus making FPGA Supercomputing performance accessible to an entire new market of scientists and developers. The company has a U.S. subsidiary, Mitrionics, Inc., based in Los Angeles, California. Key industry relationships include Cray, Nallatech, and Silicon Graphics. Mitrionics and Mitrion are trademarks and/or service marks of Mitrionics AB. All other marks are the property of their respective owners.

For more information, please visit www.mitrionics.com