Wednesday, March 17, 2010

LucidLogix Receives Addtional $8M from Current Investors

KFAR NETTER, Israel, and SANTA CLARA, California, March 16, 2010 — In response to recent sales of HYDRA 200 real time distributed processers for use in the consumer gaming and professional PC markets, LucidLogix Technologies has received an additional $8 million in funding from current investors Rho Ventures, Giza Venture Capital and Genesis Partners, bringing total capitalization to $40 million.

The funds are intended to be used for sales support, accelerate market penetration of current products, and for research and development of future technologies.

Moshe Steiner Lucid CEO said, “The confidence level of our investors has come from our ability to successfully launch and deliver our second generation HYDRA 200 product to mass production, which is already on motherboards from one of the top three manufacturers in the world, MSI, and with more partners in the pipeline. The additional investment will enable the company to expand to international markets and boost sales.”

Backed by a multitude of patents and patents pending, Lucid provides an innovative graphics scaling solution. The HYDRA 100 and HYDRA 200 real time distributed processors are the only products available today that can scale graphics performance using GPUs from any vendor for performance and system flexibility.

“Lucid is making the natural transition from a research and development startup to a silicon-product company,” said Offir Remez, Lucid co-founder and President. “We are working with leading strategic partners in the PC market during this critical time to deliver on our promises and grow the company, therefore the ongoing support by our investors is extremely valuable.”

Target markets for the company include motherboards and add-in boards for desktops and mobile platforms, a space where giants like Intel, NVIDIA and AMD find their growth.

About Lucid

LucidLogix Technologies has reinvented multi-core graphics with its HYDRA real-time distributed processing engine that improves visual computing for both business and gaming applications. A fabless SoC provider, headquartered in Kfar Netter Israel with sales and marketing in Santa Clara, California, Lucid’s innovations are protected by more than 60 patents and patents pending. For more information visit the Lucid website or follow @LucidHYDRA on Twitter.

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