Halo Industries Closes $80 Million Series B Funding Round Led by Thomas Tull’s U.S. Innovative Technology Fund
15 Julio 2024 - 8:00AM
Business Wire
Among other things, the investment most
importantly will help Halo Industries scale the commercialization
of its leading laser manufacturing technology platform
Halo Industries, Inc., the creator of a laser manufacturing
technology platform for the semiconductor industry, today announced
it raised up to $80 million in its oversubscribed Series B funding
round. Led by Thomas Tull’s U.S. Innovative Technology Fund (USIT)
with participation from 8VC and SAIC, the funding will help Halo
Industries scale the commercialization and reach of its technology
and advance its mission to establish the new gold-standard of
silicon carbide substrate production.
Halo Industries’ proprietary laser-based tools and processing
technologies enable efficient, precise and high-quality
manufacturing that minimizes the cost, waste and environmental
impact associated with traditional manufacturing methods. The
company manufactures several materials used for semiconductor
production, including silicon carbide (SiC) wafers, which serve as
the building block of efficient high voltage power electronics.
Leveraging SiC wafers for power devices enables greater power
output and system performance while being smaller, lighter, and
more robust than traditional materials. SiC is a hard, brittle
material that is challenging to cut without losing meaningful
amounts, and Halo Industries’ proprietary laser-based slicing tools
significantly increase yield and quality of SiC while minimizing
waste and production cost.
“Amid the explosive growth in demand for next-generation power
electronics with improved energy efficiency, our laser-based
manufacturing tools and SiC production are critical components for
maintaining momentum in clean tech development,” said Andrei Iancu,
Halo Industries founder and CEO. “We are incredibly grateful to
have savvy partners who recognize the differentiated value of our
innovative laser technologies and support our rapid growth. This
financing will serve as the foundation for our future strategic
engagements where our innovations can reshape market economics as
well as enable entirely new device architectures and
functionalities.”
“Semiconductors are a critical technology area for the U.S. to
remain a global leader in, and Halo Industries plays a pivotal role
by offering tools that solve some of the biggest pain points in the
industry,” said Peter Tague, Managing Partner of USIT. “Halo
Industries allows U.S. companies to onshore manufacturing by
competing on innovation, efficiency and cost, creating a durable
advantage that is additive to recent industrial policies and eases
supply chain challenges. We see a bright future for Halo Industries
to foster innovation across industries and diverse applications,
from renewable energy and electric vehicles to telecommunications,
grid infrastructure, and defense customer bases.”
Halo Industries’ laser manufacturing technologies can be broadly
applied to a diverse set of use cases and materials. The company’s
technologies have been demonstrated to work on various advanced
materials such as silicon, diamond, sapphire, lithium tantalate,
gallium nitride, and many others.
To learn more about Halo Industries, please visit the company’s
website at https://www.halo-industries.com.
About Halo Industries
Halo Industries excels at manufacturing with light. The company
has developed a range of proprietary innovations that replace
traditional mechanical and thermal processes with novel light-based
equivalents that provide higher quality, lower cost, and enhanced
functionality. The idea for Halo’s laser process was born during
PhD research of ultra-thin manufacturing methods for
next-generation silicon wafers for solar and semiconductor
applications. Due to the recent breakout success of the silicon
carbide market for advanced power electronics in applications such
as EVs, charging infrastructure, rail, industrial motor drives,
wind/solar, electric grid, etc., the company quickly adapted its
unique process to the manufacturing of silicon carbide wafers and
is now in volume production serving a growing number of
enthusiastic customers. With an exciting R&D pipeline and a
diverse range of revenue streams on the horizon, Halo is rapidly
scaling up its operations to bring the benefits of its advanced
manufacturing capabilities to the world. If you would like to learn
more about Halo Industries, please visit the company’s website at
https://www.halo-industries.com.
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