Software startup Suitera lands USD 230k in investments
AUC software spinoff Suitera has received USD 230k in investments from electronic design automation firm Mentor Graphics’ former CEO Walden Rhines and three other private investors, according to a press release (pdf) from AUC. Rhines invested USD 100k, while the other three investors put up a combined USD 130k. Suitera plans to use the funding to hire talent and continue building its product pipeline.
What is Suitera? The semiconductor startup — which was founded in 2020 by AUC professor of electronics Yehea Ismail and electronic design automation industry veterans Magdy Abadir and Eby Friedman — creates analysis and optimization tools. These tools are designed to reduce the computational time and resources required to perform complex modeling, analysis, and simulation tasks. Suitera has one viable product currently being tested by global market leaders, with another product in development and more products in the pipeline.