Compound semi firm Crystal IS garners new funding

The investor syndicate includes Arch Venture Partners, JVP, 3i, Harris & Harris Group Inc., and local investor Walt Robb. At the same time, Keith Crandell from Arch, Zeljka Matutinovic from JVP and Sean Brownlee from 3i will join the company's board.

Crystal IS (Watervliet, N.Y.) is said to be developing native aluminum nitride substrate technology for high performance III-nitride semiconductor device applications. Nitride crystal substrates are used in stoplights, military applications, biomedical, information technology, wireless communication, display lighting, and future DVD and high power microwave devices.

The III-nitride device market is expected to grow to over $25 million within the next decade, according to market analysts.

"This investment leverages our success to date and will help us to accelerate our technology and product roadmaps, expand our substrate production capacity and quality, and further drive our collaborative device development activities," said Leo Schowalter, president and chief executive of the company, in a statement.