Multi-core processor company Tilera announced a round of financing led by Artis Capital Management, Comerica bank and West Summit Capital Management. Joining the strategic investors list for Tilera are Cisco and Samsung Venture Investment. To date they have raised $109 million. The company is expected to reach profitability later this year.
The new $45 million financing round will go towards development of its fourth-generation processor family and continue their focus on the cloud computing and communications markets with several new products. “Samsung Venture sees a huge opportunity for Tilera processors in network security, cloud, wireless and multimedia applications,” said Dong-Su Kim, Ph.D., Director at Samsung Venture Investment. “The scalability of the Tile Architecture is a strong differentiator and provides the marketplace with a welcome alternative for high-performance, low-power computing.”
Tilera has been shipping many-core processors since 2007 and serves a number of vertical markets including cloud computing and communications infrastructure. At the 2010 Structure conference last summer Ihab Bishara, Director of Cloud Computing at Tilera gave a closer look at their technology and a 2U server. Last month Tilera announced that they were one of four finalists for the 2010 World Technology Award in the IT Hardware category.