Austin chipmaker Vorago Technologies loads up with more funding
Chipmaker Vorago Technologies Inc. has completed a $10 million round of funding to be used for new product and technology development.The financing was led by New York firm New Science Ventures LLC, according to a Tuesday announcement.
The funding increases to $20 million the amount of investment capital Vorago has raised since launching. The company is labeling the latest investment as a Series A-5 round of funding, executives said.Austin-based Vorago Technologies, founded in 2004 as Silicon Space Technology Corp., develops semiconductors designed to withstand extreme conditions using its Hardsil technology. It employs 18 workers.UPCOMING EVENTSAustin-San Antonio Growth SummitSEPTEMBER 03, 2015Smart Series Seminar – Creating a Culture that Engages and Retains MillennialsSEPTEMBER 09, 2015FACE-2-FACE with Laura Roberts, CEO & Co-Founder, Pantheon EnterprisesSEPTEMBER 22, 2015See More Events In August, the company rebranded itself as Vorago Technologies as part of a product line expansion strategy. It initially targeted the space industry, but executives said the proliferation of “the Internet of things” provides plenty of extreme applications on Earth.The rebranding came five months after Vorago named former Advanced Micro Devices Inc. Nasdaq: AMD executive Bernd Lienhard as CEO, replacing interim CEO David Patterson. Lienhard was previously AMD’s corporate vice president and general manager with the company’s Austin-based client business unit.In early 2014, Vorago reported completing a $3.3 million financing from four investors.