8 May 2002 -- After raising USD4m from Benchmark Capital in mid-2001, switch-fabric silicon developer TeraChip has raised USD11m more from Accel Partners and Benchmark.
TeraChip will add senior design engineers to the 18 existing engineers in its development centre in Lod, Israel, for developing next-generation products. Also, it will recruit senior marketing, sales and applications staff to establish a new US headquarters in San Francisco, CA, USA, later this year.
"TeraChip's technology will help network equipment vendors dramatically shorten development schedules and increase product margins," claims Joe Golden, Accel's General Partner, Europe.
TeraChip says it has developed breakthrough switching capacity in a single silicon chip that enables system vendors to simplify their systems and save cost.