Funding round completed
Swedish software company, Mitrionics AB has closed a $6 million round from three investment firms, led by a new US investor Grande Ventures LLC, with the Scandinavian firms, Creandum and Teknoinvest, following on.
The Lund-based company will use the money to build its technology and develop new markets for its Field programmable gate array-based accelerated computing system. Mitrion claims that its accelerated applications software increases application performance by up to 20 times or greater over traditional processors, while enabling hardware to execute applications using only a fraction of the power consumed by traditional processor clusters.
“Mitrionics has made a significant industry impact with its software acceleration technology,” said Michael Antone, Partner at Grande Ventures. “Grande Ventures is very enthusiastic about Mitrionics’ role in the emerging accelerated computing market and we look forward to helping them reach their next levels of growth, organisation, and success.”
Anders Dellson, CEO of Mitrionics AB said, “Customer demand for our software acceleration technology is strong and growing, especially in bioinformatics. With this new investment, we will grow our team and add resources both in the US and in Sweden.
At the core of the Mitrion Platform is the fine-grained, massively parallel virtual processor, which in combination with the Mitrion-C parallel programming language, provides a software driven acceleration platform. The Mitrion Virtual Processor adapts to each software application it executes in order to maximise performance.
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