Adams Capital Management led the round with participation by JK&B Capital and VentureTech Alliance, part of Taiwan Semiconductor Manufacturing Co Ltd. The funding will be used to expand the start-up’s development efforts and its engineering team, including the addition of several design and verification engineers.
The Austin, Texas-based company was founded in January 2003 and is still developing its first commercial products. It employs 18 people, and plans to increase this to 20 people by the end of 2003. By the end of 2004, it hopes to double its headcount, and expects to sell its first chips in 2005.
NextIO is designing a new class of data-communications chip that improves the ability of server computers to work effectively together. The chips will be compatible with the new PCI Express data-communications standard backed by Intel Corp.
CEO KC Murphy, said the start-up has attracted serious interest from major server makers that want to bolster the effectiveness of their systems installed in data centers.
This article is based on material originally produced by ComputerWire.
