AUC Software Spinoff Suitera Secures USD 320k Investment

Suitera, a software spinoff from the American University in Cairo, has landed a USD 320k in investments from four private investors, including Walden Rhines, former CEO of electronic design firm Mentor Graphics. Suitera is a semiconductor startup that looks to streamline the next generation of integrated circuits, such as 5G circuits.

“Suitera is a great success for AUC for two reasons,” AUC Provost Ehab Abdel-Rahman said. “First, they are starting off on the right foot by having investors ready to support them as they launch. Second, they are playing a crucial role in moving ideas from the lab-bench to market, supporting AUC's goals of converting Egypt to a knowledge-based society.”

The investment has been taken as a positive sign for the timing and need for Suitera’s technology, particularly as new challenges in electronic design automation begin to emerge. “The investment really works as a marker for the quality of the work that Dr. Yehea and his team have developed here at AUC,” said Ahmed Ellaithy, senior director at AUC’s Technology Transfer Office. “Securing investment from such respected and trusted figures in the field means other potential investors and clients are more assured of both the business case as well as the technology and product the startup is built around.”

Suitera currently has one product being tested by global market leaders, with one other product in development, as well as many more coming down the pipeline.