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Azuro Inc. Raises $9 Million in Second Round Funding

Azuro Inc., a provider of electronic design automation tools that reduce the power consumption of digital semiconductor chips, today announced it has raised $9 million in second round venture funding.

The round was led by Miramar Venture Partners, with the participation of Azuro's existing investors, Benchmark Capital and TTP Ventures.

Azuro also announced that Heiner Sussner, managing partner at Miramar Ventures, has joined the company's board of directors.

'We are delighted to welcome Miramar as an investor," said Paul Cunningham, co-founder and chief executive officer of Azuro. "Miramar has deep ties to the semiconductor industry and is the perfect partner to take us through our next phase of growth.'

Azuro was founded in 2002 and has raised a total of $13.3 million in venture funding. The company's flagship product, PowerCentric, is a complete solution for the implementation of low power clock networks on digital semiconductor chips.

'Power has become a critical issue for digital chip design teams, and we see a compelling need for advanced EDA tools that enable these teams to build lower power chips," said Sussner. "Azuro's product is architected from the ground up to tackle the complex power saving strategies necessary for next generation chip design, and the demand for their solution is impressive.'

'Azuro has undertaken the development of an ambitious technology and proven that they can deliver a significant power saving advantage to their customers," said Mark Evans, general partner at Benchmark Capital. "We are delighted to have been an integral part of Azuro's progress and look forward to facilitating their continued success.'

Azuro said it plans to use the funds raised from the round to expand sales, extend its management team and broaden the capability of its PowerCentric solution.