Sondrel has raised £17.5m after expenses to finance the employment of additional engineers and further development of its own IP. There are also plans to accelerate sales around the world and in the US in particular. Around two-thirds of last year’s revenues were from the UK.
The cash will also provide working capital for the customer supply management contracts. There will be £2.5m used to repay debt.
According to management, there are currently more than £300m of revenue opportunities for designing semiconductors for clients. If selected and the design finalised, Sondrel can expect to supply...
