Phyworks secures £6m from UK VCs
Atlas Venture and Add Partners have led a £6m financing round for Phyworks, a Bristol-based fabless semi-conductor company. Prelude Trust has also contributed to the first round financing, which will be used to complete development of a range of products based on the firm’s core technology.
The firm develops integrated circuits to improve the performance of high data optical networks, for both data and telecommunications. In July Atlas Venture backed Choreology, a UK-based business transaction management software company, which raised $3m.
Ventech takes minority stake in Telisma
French venture capital firm Ventech has invested E2m as part of a E10.5m financing round in Telisma, a French producer of voice recognition and synthesis software. Other investors in the round included Innovacom, 3i, AGF Private Equity and France Télécom Technologie et Innovation, which were existing investors in Telisma.
Telisma will use the funds to develop its voice technology software as it aims to expand internationally. The Ventech fund is backed by Financière Natexis Banques Populaires, which owns 30 per cent of the funds under management.
Royal Bank Ventures backs Aspects expansion
Royal Bank Ventures has led a £5m follow-on investment round in Aspects Software, an Edinburgh-based developer of java software systems for wireless technology. RBV was joined in the round by Scottish Equity Partners, 3i and Commerzbank Securities.
Aspects is aiming to use the funds to develop its service offering into new regions worldwide. The firm, which has offices in San Jose, Orlando and Tokyo, has over 200 clients in 33 countries.