QuickLogic Raises Approximately $3.2 Million
QuickLogic, a developer of ultra-low power multicore voice-enabled software on chips, embedded field-programmable gate array (FPGA), and endpoint artificial intelligence solutions, has raised approximately $3.2 million. The funds will strengthen the company's balance sheet and working capital to support continued growth and profitability objectives, including the hiring of additional engineers.
"We are fortunate to have the continued financial support from long-time shareholders that understand the tremendous opportunity in front of us to build upon our 30-years of expertise in delivering FPGA technology," said Brian Faith, president and CEO of QuickLogic, in a statement. "Their offer to invest in QuickLogic amid challenging market conditions is invaluable and will enable us to execute on our nearly $100 million ;sales funnel as we drive the business to profitability."