We are delighted to announce that portfolio company UltraSoC has been acquired by Siemens. 

We backed UltraSoC a year ago to support it on its quest to make in-life, real-time analytics an integral part of every electronic device and every autonomous system.

Systems on a chip (SoCs) are the bedrock upon which virtually every new electronic device is built. These chips - which amalgamate into a single chip functionality / components previously done by multiple separate chips - have in recent years grown exponentially in complexity. 

Understanding how these chips perform in the real world is fundamental to enabling the hardware-level cyber-security and functional safety capabilities required to underpin a more automated future. 

UltraSoC's patented technology is unique in delivering these capabilities, thereby unlocking a major shift towards bare metal hardware security.

We backed UltraSoC in recognition that there was an acute need within the Space sector for UltraSoC's technology. By its very definition, Space has complex systems (satellites) that need to be able to operate remotely and with increasing automation. In recent times, cyber-security has become an particularly hot topic within the Space sector due to concerns around potential vulnerabilities with both satellites and ground stations. 

In the year since we invested, UltraSoC has achieved an enormous amount, managing to grow the business rapidly (including major wins relating to the Space sector). It is credit to the UltraSoC team that they've done this and completed the sale of the business against the backdrop of COVID-19 induced macro-economic turmoil.

We wish the UltraSoC team and Siemens all the best in continuing to grow the business through its next exciting growth phase.