Boréas Technologies, a prominent player in haptic semiconductor platforms, has announced the successful closure of a Series B financing round, raising a substantial $12 million. The allocated capital is intended to accelerate the mass production of its ultra-low-power piezo haptic semiconductors, catering to mobile, PC, and automotive applications.
This funding milestone follows a robust performance in 2023, marked by significant design wins with global brands across the mobile, PC, and automotive sectors, resulting in an impressive nearly 300% increase in revenue year over year. Boréas aims to leverage this strategic positioning in the burgeoning haptic technology market, anticipated to grow to $3.5 billion by 2033 according to IDTechEx.
Simon Chaput, Boréas Technologies’ founder & CEO, expressed confidence in the company’s trajectory, stating, “Boréas Technologies has demonstrated its ability to deliver localized haptic effects and force sensing efficiently across diverse markets. This capital injection will fuel our growth, ensuring our ability to meet the escalating demand for our chips in smartphones, PC trackpads, and automotive interfaces.”
At the core of Boréas’ technology lies its CapDrive® piezo drivers, enabling precise haptic feedback and integrated force sensing in various applications, notably smartphones where solid-state buttons are enhancing user experiences. Boréas CapDrive piezo drivers promise a 10x power savings over competing products and occupy a footprint 4x smaller, aligning with stringent power and size requirements for compact, battery-powered devices.
In a move to strengthen its leadership, Boréas introduced two new executives to its team: Todd Whitaker, appointed as vice president of products and strategy, and Hans Tian, joining as vice president of sales.
Whitaker, known for his leadership in semiconductor firms, will integrate strategy, product management, sales, and marketing to propel Boréas’ business expansion. Tian, leveraging experience from prominent roles in the semiconductor industry, brings valuable sales expertise to the team.
Chaput expressed enthusiasm for the new appointments, stating, “Todd Whitaker and Hans Tian bring substantial expertise from influential companies in the semiconductor industry. Boréas welcomes their contributions to our executive team.”
