Yogitech teams with STMicro and Raises €1.5 Million

STMicroelectronics, Inc. and Yogitech spa have signed an agreement to create a comprehensive package that will simplify the development and certification of safety-critical applications based on STM32 microcontrollers. The agreement follows the recent announcement that Atlante Ventures (A Venture Capital fund of the Intesa Sanpaolo Group) has finalized an investment of € 1 million in Yogitech, part of a capital increase round of total € 1.5 million. The remaining € 500 thousands was subscribed by the current financial shareholder Fondo Toscana Ventures, part of SICI Sgr spa.

ST and Yogitech have agreed to develop a safety manual and software test libraries as a simple, quick, and effective means of detecting and flagging potentially dangerous failures in STM32 designs using tailored development tools from IAR Systems. Directed at a market estimated at over €400 million in Europe alone, the initiative aims at allowing engineers to choose from over 500 ST microcontrollers to create innovative and safe industrial products for factory-automation applications.

“The complexity of modern integrated circuits is such that the adoption of a black-box approach for safety analysis is no longer an option,” said Silvano Motto, CEO of Yogitech. “The development of the STM32 safety package takes advantage of fRMethodology, our patented white-box approach to address functional safety analyses of integrated circuits approved by TÜV SÜD and by many lead companies in multiple application domains like industrial and automotive.”

“Achieving stringent functional-safety certification on systems where STM32 is the main microcontroller is a very popular request within our industrial customer base,” said Jacky Perdrigeat, EMEA Marketing Vice President for Microcontrollers, STMicroelectronics. “The cooperation with Yogitech sets to speed up time-to-market for critical safety applications, strengthening our offering for the industrial- and factory-automation markets, which are key segments for the STM32 product family.”

Commenting on the recent investment, Silvano Motto, CEO of Yogitech declaired; “We are extremely happy and proud to announce the completion of this financing round, and we welcome Atlante Ventures. This investment further outlines the credibility of our growth strategy within the market of fault robust embedded systems for safety critical applications. The capital increase will support the investment capability of YOGITECH and this will allow us to further value the unique aspects of our technology.”

“The innovation in the technology developed by the company and the worldwide reputation and credibility that the management team was able to gain in a complex market such the safety critical electronics one, are the key elements that led us to invest in Yogitech.” said Davide Turco, head of Atlante Ventures.

“We are delighted by the worldwide recognition of the technologies developed by Yogitech, a company that has continued to invest in the innovation of its products even in troubled times for the market” declared Massimo Abbagnale, President of SICI. “We believe that, thanks also to this new investment round, the company will be able to reach important results in the mid future.”