Eindhoven, November 3, 2011 – Vector Fabrics, an innovator specialized in programming tools for the design, analysis and parallelization of multi-core software, today announced the closing of her B-round of financing led by Newion Investments, with the participation of the existing investors Point-One Starter Fund and Technotars. The funds will be used to accelerate market development and sales.
Mike Beunder, Vector Fabrics’ CEO, says, “With the backing of Newion Investments and the closing of our B round, Vector Fabrics can now concentrate on increasing its marketing and sales activities. Our recent announcements concerning our engagements with Imagination Technologies and NVIDIA are the first signs of this expansion.”
Frank Claassen, Investment Director of Newion, says, “We are pleased to announce the first investment of the Newion II Fund which saw its first closing in April this year. Vector Fabrics has a unique solution for solving a well-known problem the embedded software market is facing. The combination of Vector Fabrics’ experienced management team with its excellent reputation in embedded engineering and the results of benchmark studies and pilot projects provide a solid foundation for market leadership. We’re more than happy to assist Vector Fabrics in realizing its ambitions and growth.”.
About Vector Fabrics
Vector Fabrics develops programming tools for multicore embedded systems that are at the heart of virtually every electronic system you can think of today, from smartphones to cars and from televisions to game consoles. Optimizing software for multicore processors by hand is simply too complex, takes too much time, and won’t result in an optimal implementation. The tools analyze program code, predict parallel performance and swiftly guide the developer toward an optimal multicore implementation that is free of errors.
For more information go to
www.vectorfabrics.com or contact Mike Beunder (+31 40 820 0960)
About Newion:
Newion is since its inception, mid 2000, one of the most successful General Partners in its segment. Under the existing portfolio companies of Newion are: Service2Media, Lean Apps, Asysco, E-semble, Mirror42, Servoy. Beginning 2011 Q-go was sold to the stock quoted US company RightNow, realizing an IRR exceeding 35%.
In April this year Newion’s third fund, Newion II had its first closing. Newion II is a fifty million fund focusing on business technology/software companies in the Benelux. Cornerstone investor is European Investment Fund through the “Competitiveness and Innovation Framework Programme”(“CIP”) of the European Union.
Fore more information go to
www.newion-investments.com or contact Frank Claassen (+31 513 640633).