custom product corporation
Wed, 28 Jul 2010 21:45:47 -0400 | Posted in car custom view wheels


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SAN FRANCISCO: Tier Logic Inc., a programmable logic startup developing a novel processing technology to build FPGAÂ and ASIC products on a single die, has folded.
According to EE Times, TierLogic, which was based in Santa Clara, California shut down operations last week since it was unable to find funding for a series B round.
Sources at the company say the move was one that they had to take due to being unable to get a lead investor to come in to a series B funding round; and this was despite the fact that they ad spent only an amount of less than $20 million initially.
Sources at the company say this is a reflection of the fact that venture capitalists are reluctant to invest in even start ups that had made the kind of initial progress that Tier had. This is because there have been very few successful exits from chip companies over the past few years, even though programmable logic suppliers Xilinx Inc. and Altera Corp., as well as other chip large companies like Intel Corp. and Texas Instruments Inc. have been reporting record revenues and profits.
Tier Logic first came public in March, with details on its three-dimensional programmable logic technology. The company's approach separated user circuits and configuration circuits into 3-D stacked layers, creating what they called the world's first monolithic 3-D FPGA. Sources say they are now trying to sell the company's patents at the request of its primary investor, Matrix Partners.
Tier joins a number of programmable logic vendors who have gone under in recent years – including startup CSwitch Corp. in 2009 and Ambric Inc. and MathStar Inc., who ceased operations in 2008 as financial resources ran dry.
Tier Logic was founded in 2003 Raminda Madurawe and Peter Suaris, veterans of Altera and Mentor Graphics Corp., respectively.

