Mithril Invests $55M in Flex Logix

VC Investment in the Semiconductor Industry

The semiconductor industry, previously considered a stable market, is now experiencing a surge in venture capital interest.

Flex Logix Secures $55 Million in Series D Funding

Recent reports indicate that Ajay Royan, representing Mithril Capital, spearheaded a $55 million Series D funding round for Flex Logix. This company specializes in the creation of chips engineered to facilitate AI processing at the network edge.

Prior to this latest investment, Flex Logix had already secured $27 million in funding through earlier rounds. Investors included firms such as Lux, Eclipse Ventures, and the Tate Family Trust, the investment arm of the company’s founder and CEO, Geoff Tate.

Mithril Capital’s Prior Semiconductor Investments

This investment in Flex Logix isn't Mithril’s initial venture into the chip market. The firm had previously invested significantly in Nuvia, a rising competitor in the server chip arena.

Nuvia was founded by leading chip architects formerly associated with Apple’s A-series processors. Mithril’s investment in Nuvia totaled $240 million in September, culminating in Qualcomm’s acquisition of the company for $1.4 billion in January.

Focus on Flex Logix’s Technology

We previously reported on Flex Logix in October, coinciding with the release of their X1 AI chip.

According to Mithril’s official statement, the company demonstrates proficiency in designing a highly competitive processor that adheres to stringent power and cost constraints within the rapidly expanding semiconductor market.

Furthermore, Mithril highlighted Flex Logix’s substantial intellectual property portfolio in the eFPGA sector. Demand for adaptable processors capable of evolving alongside application requirements is driving increased customer interest and activity in this space.