Design automation company Nangate seeking $10M
Nangate, a Sunnyvale, Calif.-based developer of electronic design automation software, is looking to raise $10 million in a third round of venture funding, according to VentureWire.
The company previously raised $15 million from Sunstone Capital, NorthCap Partners and Seed Capital Partners. Its revenue was about $500,000 for the first quarter of 2008.
Nangate says its software improves design speed, design area and power consumption.
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About the Author, Anthony Ha
Anthony is VentureBeat's assistant editor, as well as its reporter on enterprise technology, cloud computing, and tech policy. Before joining VentureBeat in 2008, Anthony worked at the Hollister Free Lance, where he won awards from the California Newspaper Publishers Association for breaking news coverage and writing. He attended Stanford University and now lives in San Francisco. Reach him at anthony@venturebeat.com. You can also follow Anthony on Twitter.