Silicon Hive gets $7M from Intel

Silicon Hive B.V. has received Rs.30.11 crore ($7M) in new funding this month. The round was led by Intel Capital and joined by existing investors New Venture Partners and TVM Capital.

The new funds will be used to expand the global sales, marketing and customer support organisation, which operates from offices in Eindhoven, Bangalore, Tokyo, Seoul and Silicon Valley. Also, the company intends to release additional HiveGo solutions for image and video processing. HiveGo products combine Silicon Hive's silicon proven HiveFlex processors with specialised software building blocks to implement critical high-performance functions on multimedia integrated circuits for consumer electronics.

Silicon Hive has also signed a business agreement with Intel for potential product opportunities using Silicon Hive's technology, covering the entire spectrum of mobile products.

"Silicon Hive's technologies strike a balance across the vectors of low power consumption, high processing power, and programmability," said Ashish Patel, managing director of Europe, Middle East and Africa (EMEA), Intel Capital.

Silicon Hive's products enable semiconductor and consumer electronics companies to make fully programmable integrated circuits for imaging, video and wireless communication applications. Programmability reduces time-to-market and adds flexibility through software upgrades.