Romanian deeptech startup Amsimcel receives €4.8M
18 October, 2022, 18:12
The Suceava-based deeptech startup Amsimcel has received €4.8 million in blended financing through the European Innovation Council Accelerator. The money will be used for the company’s developing and market expansion.
- Launched in 2017 by Catalin Tugui, Gabriel Donici, and Emanuel Dogaru, Amsimcel intends to speed up the process of physical verification of integrated circuits, deep learning, and verification of complex systems. The company claims that its proprietary algorithms deliver up to 20 times faster results than leading competitors in a physical concept verification.
- The startup is an alumnus of Techcelerator & Nvidia Inception, and previously raised €500,000 in a pre-seed funding from Israeli angel investors.
“Funding of HyperPV by the European Innovation Council, one of the most competitive EU accelerators in the world, is a recognition of the innovation proposed by Amsimcel. HyperPV will strengthen the European Semiconductor Ecosystem by bringing the much-needed disruption and solving the bottlenecks in the existing chip design flows,”Catalin Tugui, co-Founder and CEO of Amsimcel said.
- The fresh funding was led by the EIC Accelerator, one of the most competitive funding programs at the European level. The EIC Accelerator supports individual small and medium enterprises, in particular startups and spinout companies, to develop and scale up game-changing innovations.
- Amsimcel was selected among the 75 innovative European startups out of a pool of over 1,000 companies. The money will be used to develop the company, finalize product development, commercial enhancement, and market expansion.