HexaTech gets $9 million to develop AlN substrates
HexaTech, a developer and producer of AlN substrates headquartered in Raleigh, NC, has won $8.9 million to advance its product development, expand its marketing efforts and strengthen its executive team.
Intersouth Partners led the Series A funding round, with HIG Ventures, Sevin Rosen Funds and NC IDEA also making contributions. Craig Burson of HIG Ventures, John Glushik of Intersouth Partners and Dave McLean of Sevin Rosen Funds will join the company's board of directors.
HexaTech was founded in 2001 to exploit technology developed at North Carolina State University. It uses a proprietary process combining physical vapor transport with seeded growth to fabricate single-crystal AlN substrates.
"This opportunity will enable us to accelerate scaling our AlN wafers to commercially-viable sizes, significantly increase our wafer production capacity and enable us to develop new devices and strategic partnerships," remarked company CTO Zlatko Sitar.
HexaTech is not the only manufacturer of AlN substrates, and will have to compete with firms such as Crystal IS, which has already produced AlN boules up to 30 mm in diameter.
