ATEEDA secures further £500,000 investment from AIIL and SCIF

30-Jun-2010

To coincide with the successful launch of a brand new tool for cutting the cost of testing microchips, ATEEDA and Archangel Informal Investments are delighted to announce that they have concluded a new funding round. The investment of £500,000 ($750,000) from Archangels and the Scottish Co-Investment Fund supports ATEEDA's strategy to roll out its technology to the global chip design and manufacturing industry.

The LinBIST tool was released following lengthy internal development and testing, and is now being validated by major multinational chip manufacturers. ATEEDA expects to expand their Edinburgh operation in the coming months, and are recruiting a number of new staff to support growing customer numbers.

ATEEDA CEO David Hamilton commented “We attend many industry events, and we keep hearing from major manufacturers that analog test is becoming a critical bottleneck. This investment enables us to expand to meet demand for our new LinBIST product.”

Archangels CEO John Waddell added:
“We spent some time developing a strong relationship with the management of ATEEDA before our first investment in 2008. Their initial iteration with the market led to the development of the LinBIST tool which we believe substantially improves the company’s prospects.”

MBM Commercial advised the investors and Lindsays WS acted for ATEEDA.
 
For more information, please visit the following websites:

Archangel Informal Investments Limited
www.archangelsonline.com

Scottish Enterprise
www.scottish-enterprise.com