XMOS plans expansion on the back of strong revenue growth and new funding
Program builds on 30% quarter-on-quarter growth, $14M in new funding
BRISTOL, UK, 3 December 2013 - XMOS, the leader in multicore microcontrollers, has announced that it is planning to grow its operations worldwide in 2014 on the back of very strong revenue growth and following the addition of $14m in new equity funding from a combination of London and Silicon Valley based investors.
This new funding follows the launch of XMOS’s new xCORE-XA extended architecture product family and significant design-win successes including wins at Sony and other major companies. Nigel Toon, President and CEO of XMOS, who is travelling in China this week with the UK Prime Minister as part of a major UK trade delegation said:
“Revenue growth at XMOS has been averaging 30% quarter-on-quarter and design-wins at consumer, pro-audio, industrial and automotive customers are accelerating fast. This new investment is an endorsement of our world-class team, category-defining technology and strong market momentum.”
The company intends to expand its operations in China with the addition of a new support center in Shenzhen and is opening a new sales office in Japan during December 2013. A major increase in field applications engineering (FAE) support will see the opening of a sales and support office in Germany plus further expansion in resources across North America.
At its development centers in Bristol, UK and Chennai, India the company expects its engineering force to double through 2014 as it adds experienced silicon and software development engineers. In addition, XMOS will recruit additional systems engineers with expertise in audio, video, advanced motor-control, motion-control, and real-time communications, as part of a continued expansion of the company’s portfolio of xSOFTip™ software IP components.
The XMOS xCORE® family of multicore microcontrollers are the world’s most advanced and flexible, high performance microcontrollers. They uniquely allow engineers to create the exact hardware system needed for their application, all in software, delivering the next wave in programmable system-on-chip solutions.
A further equity investment is expected to close early in 2014 as part of a second close to this funding round.
XMOS is an innovative fabless semiconductor company based in Bristol, UK. The company’s wide range of configurable xCORE® multicore microcontrollers allows engineers to create the exact hardware system needed for their application all in software, delivering the next wave in high performance, real-time, programmable system-on-chip solutions. This makes xCORE multicore microcontrollers ideal for demanding embedded applications in audio, automotive, consumer and industrial products, where other microcontrollers struggle. XMOS provides xTIMEcomposer™ Studio, an easy to use development system that makes it simple to design complex embedded systems all in software.