LONDON Ė TeraView Ltd. (Cambridge, England), a startup company founded in 2001 to develop terahertz systems for imaging and spectroscopy, has announced it has secured $5.5 million of investment from a consortium of U.S., Asian and European institutional and corporate investors.
Key areas for focus include sales and marketing in Asia, as well as the further development of products for the semiconductor inspection market. Intel and other major semiconductor manufacturers already use TeraView's products, the company said. Funding will also be used to enhance collaboration with existing customers in these markets.
Terahertz waves are beyond gigahertz and sit between infrared and microwave parts of the spectrum. The radiation has the ability to penetrate a number of materials, similar to x-rays, while also providing biochemical information about the objects and materials it illuminates.
Teraview, formed as a spin-off from the Toshiba Cambridge Research Laboratory, said it would use the capital injection to scale up its product delivery and manufacturing to meet increasing orders.
The funding round was led by New Hill Management and Full Circle Investments in the U.S., together with YFM Equity Partners and Turquoise International in the U.K. and other investors.
Don Arnone, CEO of TeraView, said in a statement: "Customers are deploying our products at their production sites across the world, and this investment greatly enhances our ability to support those customers, as well as expand our product development and sales and marketing activities in strategic areas such as the Asian semiconductor market."
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