Among other things, the investment most importantly will help Halo Industries scale the commercialization of its leading laser manufacturing technology platform

July 15, 2024 06:00 AM Pacific Daylight Time

SANTA CLARA, Calif.–(BUSINESS WIRE)–Halo Industries, Inc., the creator of a laser manufacturing technology platform for the semiconductor industry, today announced it raised up to $80 million in its oversubscribed Series B funding round. Led by Thomas Tull’s U.S. Innovative Technology Fund (USIT) with participation from 8VC and SAIC, the funding will help Halo Industries scale the commercialization and reach of its technology and advance its mission to establish the new gold-standard of silicon carbide substrate production.

“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”

Halo Industries’ proprietary laser-based tools and processing technologies enable efficient, precise and high-quality manufacturing that minimizes the cost, waste and environmental impact associated with traditional manufacturing methods. The company manufactures several materials used for semiconductor production, including silicon carbide (SiC) wafers, which serve as the building block of efficient high voltage power electronics. Leveraging SiC wafers for power devices enables greater power output and system performance while being smaller, lighter, and more robust than traditional materials. SiC is a hard, brittle material that is challenging to cut without losing meaningful amounts, and Halo Industries’ proprietary laser-based slicing tools significantly increase yield and quality of SiC while minimizing waste and production cost.

“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.”

Halo Industries’ laser manufacturing technologies can be broadly applied to a diverse set of use cases and materials. The company’s technologies have been demonstrated to work on various advanced materials such as silicon, diamond, sapphire, lithium tantalate, gallium nitride, and many others.

To learn more about Halo Industries, please visit the company’s website at https://www.halo-industries.com.

About Halo Industries

Halo Industries excels at manufacturing with light. The company has developed a range of proprietary innovations that replace traditional mechanical and thermal processes with novel light-based equivalents that provide higher quality, lower cost, and enhanced functionality. The idea for Halo’s laser process was born during PhD research of ultra-thin manufacturing methods for next-generation silicon wafers for solar and semiconductor applications. Due to the recent breakout success of the silicon carbide market for advanced power electronics in applications such as EVs, charging infrastructure, rail, industrial motor drives, wind/solar, electric grid, etc., the company quickly adapted its unique process to the manufacturing of silicon carbide wafers and is now in volume production serving a growing number of enthusiastic customers. With an exciting R&D pipeline and a diverse range of revenue streams on the horizon, Halo is rapidly scaling up its operations to bring the benefits of its advanced manufacturing capabilities to the world. If you would like to learn more about Halo Industries, please visit the company’s website at https://www.halo-industries.com.

Contacts

Media Contact
Pro-tull@prosek.com

Company Contact
info@halo-industries.com

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