Safran and Pengpai in $26m funding round for Kalray

A first tranche of $15m is to be issued immediately, the funders said in a statement, while a second $11m tranche is scheduled for the end of 2017. 

Both Safran and Pengpai joined as new investors in this round, while Ace Management, CEA Investissement, Eurekap and Inocap Gestion had provided financing in the past and reinvested.

It is the fourth round of funding received by Kalray, and brings the total it has raised so far to around $65m. The fresh financing will be used to develop and launch Coolidge, Kalray's third generation of processor, and to recruit new engineers (around 15 in total), as well as strengthen the company's international network.

Previous funding
In January 2009, Rhône Alpes Création, CEA and Ace injected a combined €2.5m in a series-A round.

In January 2011, Ace, Inocap, Eurekap, CEA, Rhône Alpes Création and Promelys Participations, as well as French governmental agency Oseo Industrie, provided a €6m series-B round for Kalray. Ace provided €1.6m, according to unquote" data.

In 2013, Ace, Inocap, Expansinvest and Rhône-Dauphiné Développement invested a combined €5m in the company. Business angels and local industrial players also took part in the round.

Company
Founded in 2008 as a spinout from CEA-Leti, Kalray is a fabless  semiconductor and software company developing, marketing and selling multi-core processors for image signalling and processing, telecommunications infrastructure, industrial automation, transport, and data security and networking.

Based in Orsay, Kalray reported a €4-5m turnover in 2013 and expects a €100m turnover for 2017. It employs 60 people.

People
Kalray – Joël Monnier (CEO, founder).

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