News: Suppliers
29 May 2024
Axus secures $12.5m in funding from IntrinSiC
Axus Technology of Chandler, AZ, USA – a provider of chemical-mechanical polishing/planarization (CMP), wafer thinning and surface-processing solutions – has received $12.5m in capital funding from IntrinSiC Investment LLC of Palo Alto, CA, USA, a private equity firm that invests in suppliers of key enabling technology for silicon carbide (SiC). In addition, the firm has secured a significant revolving and term line of credit from a leading national bank.
Axus says that, as an established equipment manufacturer with a strong installed base and a focus on silicon carbide semiconductor processing, it has developed a core understanding of technologies related to CMP – specifically wafer polishing, thinning and cleaning. It hence reckons that is well positioned to drive toward volume sales of, and enter new markets with, its Capstone CMP and Aquarius wafer cleaning platforms. The firm will use the equity funds to further these efforts, aiming to leverage its strong capitalization to pursue and fulfill high-volume orders from semiconductor and compound semiconductor manufacturers worldwide.
“With this additional funding, we are strongly positioned to support our rapidly growing installed base of high-performance Capstone CMP systems, particularly with our leading-edge, high-volume customers,” believes CEO Dan Trojan. “In addition to strengthening our balance sheet, we expect to significantly benefit from the interaction, support and contribution of IntrinSiC’s principals, whose skill and experience in the semiconductor industry and impressive track record will greatly benefit Axus Technology’s continued growth and evolution,” he reckons.
“We have been engaged in the compound semiconductor ecosystem for more than a decade. Over the past two years, we have made strategic investments in companies with a strong focus on SiC, as well as gallium nitride,” says IntrinSiC Investment’s general partner Johannes Froehling. “Our approach is to seek recommendations from leading chipmakers for companies with a solid, technically differentiated product portfolio that are well positioned to move to high-volume manufacturing once capitalized,” he adds. “Axus Technology was cited across the board as a company that met or exceeded these characteristics.”
