Reveal Design Automation has scored a $50,000 investment from the
Zell Lurie Commercialization Fund, a pre-seed investment fund from the University of Michigan's Ross School of Business.
The money is the last infusion of seed capital the University of Michigan spin-out will received. The angel investments and federal grants total nearly $4 million that is going toward the development of the Reveal Design Automation's semiconductor chip design technology. The $50,000 will go toward helping the Ann Arbor-based company land more customers.
"We have a sales team now," says Zaher Andraus, president & CEO of
Reveal Design Automation. "They also provide customer support."
Reveal Design Automation specializes in developing electronic design automation software. The software helps simplify the complicated semiconductor chip design that shortens the verification timeline and lets makers bring it to market faster.
The firm has already finished the Version 1 of its platform and has deployed it to a couple of initial customers in industries like telecommunications and automotive. It now has a team of 12 people after adding a couple over the last year.
"I want to make sure we have more customers," Andraus says. "I'd like to have as many Tier 1 customers are we can support and 20-30 employees."
Source: Zaher Andraus, president & CEO of Reveal Design Automation
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.