Rapid Silicon Reels In $15 Million Seed Round

<p><strong>SAN JOSE<&sol;strong> &&num;8212&semi; Rapid Silicon&comma; a provider of AI-enabled application-specific Field Programmable Gateway Arrays &lpar;FPGAs&rpar; based on open-source technology&comma; has announced &dollar;15 million in seed funding led by ChengWei Capital and Cambium Capital&period; Rapid Silicon is headed by industry veteran Dr&period; Naveed Sherwani and has offices in San Jose and Shanghai&comma; and plans to expand with additional offices in Europe and Asia&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Today’s customer demand for simple-to-use and efficient FPGAs from independent suppliers is driven by increasing market consolidation and the rise of domain-specific architectures&comma;” said Dr&period; Naveed Sherwani&comma; Chairman&comma; President&comma; and CEO of Rapid Silicon&period; &OpenCurlyDoubleQuote;We see an opportunity to become a leading independent supplier of FPGAs&period; We are building our solution on top of open source FPGA technology using proprietary AI methodologies to meet the growing demand for diverse target applications&period;”<&sol;p>&NewLine;<p>As a founding member of the Open Source FPGA Foundation&comma; Rapid Silicon has adopted the foundation’s open source tools and methodologies to allow for innovation on a global scale&period; Rapid Silicon’s new generation of FPGAs targets a wide range of applications&comma; allowing customers to introduce differentiated products in record time&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We are excited to work with Dr&period; Sherwani and his team to help bring this technology to the marketplace&period; Rapid Silicon’s business model utilizes open source and proprietary technology to enable customers to bring products to market more efficiently&comma;” said Landon Downs&comma; Managing Partner at Cambium Capital&period; &OpenCurlyDoubleQuote;The company is poised to become a global leader in the FPGA industry&period;”<&sol;p>&NewLine;