Business Weekly understands that the investment is worth around $10 million and has been secured on the back of TeraView’s development of new products for the inspection of chip sets used in mobile consumer electronics.
The investment will support the expansion of product and technology development at TeraView as well as pre and post-sales customer support across the world, maintaining TeraView’s technological and commercial lead in the growing Terahertz market. The company says the value to consumers will be higher performance and more reliable mobile devices.
Working with its Fortune 500 customers, TeraView has identified substantial market opportunities for the use of Terahertz in the development and manufacture of advanced integrated circuits used in the mobile electronics industry.
Driven by the needs of the smartphone and tablet computing markets, TeraView is deploying its inspection products in collaboration with major semiconductor companies for fault detection and quality assurance of semiconductor chipsets.
TeraView will use the new investment to enhance the performance of its proprietary technology as well as to transition current products into QA and high throughput inspection solutions optimised for the requirements of customer production lines.
The funding also will allow the company to increase its post-sales support and infrastructure in Asia and the US to directly assist manufacturing customers.
The development of Terahertz for high value coatings inspection in the automotive, pharmaceutical and other industries is also accelerated by the investment, as is exploration of new applications and market opportunities.
Due to the strategic importance of TeraView’s technology in integrated circuit development and production activities, the investment was sponsored by Samsung Ventures, in collaboration with financial investors who also provided follow-on and new capital.
Major Asian and US semiconductor manufacturers have been working successfully with TeraView to demonstrate the applications of TeraView’s products in a variety of development and industrial processes.
New investors include Nordson DAGE (Nordson, Nasdaq:NDSN), the leading provider of X Ray inspection systems to the semiconductor industry. Nordson views Terahertz as an important tool to address customer needs for fault detection and inspection of advanced integrated circuits, and as complementary to its own innovative X Ray products.
London-based Q Street Capital and the Low Carbon Innovation Fund, administered by Turquoise International, also participated in the funding round.
Dr Don Arnone (pictured), TeraView’s CEO, said: “This investment was made in direct response to the progress which the company has made in supplying customers with solutions to their needs in the development and manufacture of high value products. We can now continue to embed TeraView technology in customer manufacturing lines, as well as build up additional customer support infrastructure in the Far East and US, both of which are necessary for future growth.
“The funding also allows TeraView to maintain its competitive lead in the growing Terahertz market. This all comes at a critical and exciting time when applications of Terahertz light are being validated and rapidly expanded, both of which have been driven and dominated by TeraView’s work with the technology and our global customer base.”
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