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Etch tool start-up gains $58 million funding
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Advanced Micro-Fabrication Equipment Inc. (AMEC) has secured $58 million in Series C funding from a group of investors that include Walden International, Lightspeed Venture Partners, Goldman Sachs, Redpoint Ventures, Global Catalyst Partners, Interwest Partners, Bay Partners, QUALCOMM Ventures and KT Venture Group. The Asia based semiconductor equipment supplier is using the funds to focus on the development of its etch processing tools, the company said.
"We are very pleased to close this latest funding round. It's a significant achievement in a time of volatile financial market conditions," said AMEC's Chief Executive Officer, Gerald Z. Yin. "We are grateful to our investors who continue to generously support us, and we welcome our new financing partners. The last funding event propelled our transition from R&D to production. Now, with tools in the field, we're in an excellent position to support additional growth."
AMEC said that it has placed its Primo D-RIE etch tool and its Primo HPCVD tools at several key semiconductor manufacturers in Asia over the last year.