Tela Innovations Raises $4.75M

Los Gatos, CA-based Tela Innovations has raised $4.75 million in an equity-based financing round that could go as high as $5.5 million, according to a regulatory filing. The company has developed techniques for compressing the chip layouts created during the lithography phase of semiconductor fabrication, saving space and reducing power leakage. Tela raised an undisclosed amount of Series B funding in a round led by Intel Capital in February 2008, and $5.5 million in Series C funding in a round involving Cadence Design Systems, KT Venture Group, and Qualcomm in December 2008.

Wade Roush is a freelance science and technology journalist and the producer and host of the podcast Soonish. Follow @soonishpodcast

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