Vector Fabrics has closed its B round of financing, led by new investor Newion Investments.
“Vector Fabrics can now concentrate on increasing its marketing and sales activities. Our recent announcements concerning our engagements with Imagination Technologies and NVIDIA are the first signs of this expansion," said Mike Beunder, Vector Fabrics’ CEO.
The Netherlands-based company develops programming tools for multicore embedded systems used in smartphones and consumer electronic products.
“Vector Fabrics has a unique solution for the problem that the embedded software market has been facing for years," said Frank Claassen, investment director and partner at Newion.
"The combination of Vector Fabrics’ experienced management team with its excellent reputation in embedded engineering and the results of benchmark studies and pilot projects provide a solid foundation for market leadership,” said Claassen.
Return investors TechnoStars and Point-One Starter Fund also joined this B round, further expanding their holdings.
www.vectorfabrics.com