Catalonia approves €15m loan for Openchip’s processor development
The financing will support operations and research while the Barcelona chip designer pursues private investment.
The Government of Catalonia has approved a €15 million loan to Openchip through its Economy and Finance department. The announced financing is intended to maintain the company’s research programmes and meet operating needs.
Supporting chip development
Openchip designs RISC-V processors and computing systems for artificial intelligence and high-performance computing. The company is seeking private investment to support its next stage of development.
Financing conditions
La Vanguardia reported that the loan’s disbursement is conditional on a matching €15 million contribution from cofounder GTD. That prospective contribution is separate from the government loan.
Use of funds
Support operations and continuity of research and development while the company seeks private investment.