The funding brings the total raised by the company since its formation in 2015 to $190.5 million.
The round was led by SK Hynix and new investor Prosperity7 Ventures. Additional funding from existing investors, Sutter Hill Ventures, Western Digital Capital, Qualcomm Ventures LLC, Intel Capital, Osage University Partners, and Spark Capital. Reuters reported that Saudi Aramco also invested although this information was not included in SiFive's press release.
SiFive said it would use the money to help leading semiconductor companies bring to market new products for aerospace, automotive, artificial intelligence, data center, mobile, networking, and storage applications. The company claims its product portfolio of RISC-V-based processor cores are well suited to replace and augment legacy, general-purpose proprietary architectures.
In particular RISC-V allows custom instruction extensions to domain-specific and work-load specific designs as well as supporting heterogeneous multiprocessor computation.
"SiFive’s winning product portfolio will continue to expand and be adopted for solutions that require domain-specific architectures," said Naveed Sherwani, CEO of SiFive, in a statement.
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