The company, which span out from the University of Manchester, received £1m of backing from Partnerships UK in an oversubscribed investment round.
Other investors in the business were Intel Capital, British Smaller Technology Companies VCT, The Northwest Business Investment Scheme, Seven Spires Investment and the Manchester Technology Fund.
The company has developed software tools called CHAINworks which gives the makers of chips more flexibility when producing circuits.
Its ‘Network on Chip’ solution is said to overcome many of the problems associated with the current chip design such as timing closure, power consumption, design complexity and product time to market.
David Fritz, chief executive of Silistix, said: “I'm very pleased to have a strong and supportive group of professional venture capital investors participating in this round of funding,
“The addition in the final closing of Partnerships UK to our investor team is yet another vote of confidence in the Silistix management team, technology and products.
“We are now in a very strong financial position as we prepared for future business growth.”
Dr. Elaine Loukes, investment director at Partnerships UK, will be joining Silistix’s as a result of the deal.
He said: “Silistix has made excellent progress both technically and commercially in developing its ground-breaking software and we are delighted to back David and his team in taking the company forward.”
© Crimson Business Ltd. 2007