In its oversubscribed Series B funding round, Halo Industries, Inc. raises $80 million. The funding round was led by Thomas Thull’s US Innovative Technology Fund (USIT) with participation from 8VC and SAIC. The latest fund will help Halo scale the commercialization and reach of its technology and advance its mission to establish the new gold-standard of silicon carbide substrate production.
The 2014-founded provider of laser manufacturing technology, Halo manufactures several materials used for semiconductor production, including SIC wafers, that helps in efficient high voltage power electronics.
“Amid the explosive growth in demand for next-generation power electronics with improved energy efficiency, our laser-based manufacturing tools and SiC production are critical components for maintaining momentum in clean tech development,” said Andrei Iancu, Halo Industries founder and CEO. “We are incredibly grateful to have savvy partners who recognize the differentiated value of our innovative laser technologies and support our rapid growth. This financing will serve as the foundation for our future strategic engagements where our innovations can reshape market economics as well as enable entirely new device architectures and functionalities.”
“Semiconductors are a critical technology area for the U.S. to remain a global leader in, and Halo Industries plays a pivotal role by offering tools that solve some of the biggest pain points in the industry,” said Peter Tague, Managing Partner of USIT. “Halo Industries allows U.S. companies to onshore manufacturing by competing on innovation, efficiency and cost, creating a durable advantage that is additive to recent industrial policies and eases supply chain challenges. We see a bright future for Halo Industries to foster innovation across industries and diverse applications, from renewable energy and electric vehicles to telecommunications, grid infrastructure, and defense customer bases.”
