Ericsson Invests in Semiconductor Startup
LEXINGTON, Mass. -- Adapteva Inc., innovators in the field of parallel processing and sponsors of the Parallella project, announced today they have closed a $3.6M Series-B funding round from Carmel Ventures, a premier venture capital firm, and Ericsson, a world-leading communications technology and services vendor. The financing will reinforce Adapteva’s long-term plans for delivering transformative technology – semiconductor chips and computing boards that enable the next generation of parallel computing.
“The potential for major returns in energy efficiency and performance gained from parallel processing are clear, and in fact critical, to support rapid growth in the telecoms industry. This makes innovations such as Adapteva’s very exciting for Ericsson and for the customers we work with,” said Sebastian Tolstoy, Ericsson VP Business Development, PA Radio, BNET.