SiFive attracts strong venture backing raising $65m

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Leading provider of commercial RISC-V processor IP and silicon solutions, SiFive, has raised $65 million in a Series D funding round led by existing investors alongside new investor Qualcomm Ventures LLC.

This Series D round brings the total investment in SiFive to more than $125 million.

"SiFive continues to drive rapid RISC-V growth, development and adoption," said Stefan Dyckerhoff, managing director at Sutter Hill Ventures and member of the SiFive board of directors. "We are seeing significant traction across numerous markets and verticals. Its expertise in RISC-V Core IP, complete silicon solutions and a native cloud environment is a key differentiator. Sutter Hill Ventures continues to strongly believe in – and invest in – SiFive's vision to democratise access to custom silicon."

This latest round of funding is intended to support SiFive's global expansion and technology development. Over the past year and a half, SiFive has grown from fewer than 40 employees to more than 400 employees across 15 locations globally from Austin, Texas to Hsinchu inTaiwan.

"Qualcomm Ventures invests in innovative technology companies that have the potential to transform industries." said Quinn Li, senior vice president, Qualcomm Technologies Inc. and global head of Qualcomm Ventures. "SiFive has established itself as a leader in the RISC-V space making significant contributions to the broader semiconductor industry through its unique design methodology. We are excited to invest in SiFive to bring the potential of RISC-V to wireless and mobile."

SiFive is positioned to take advantage of the need for custom silicon as device manufacturers rapidly adopt domain-specific application processor designs in response to the point of compute migrating to the Edge.

Commenting Naveed Sherwani, president and CEO of SiFive said, "Hypergrowth and industry disruption cannot happen without bold commitment. We are proud to count on our incredible investors and champions as a key part of how we grow in select markets and verticals, access platforms and technologies, find talent, and partner with giants in order to realise our vision."