Black Semiconductor's Groundbreaking €254.4M Funding Injection to Revolutionize Europe's Semiconductor Industry
June 14, 2024, 3:36 pm
Black Semiconductor
Total raised: $276.83M
Aachen-based Black Semiconductor has recently made waves in the tech world by securing a substantial €254.4 million in funding. This funding, which stands as one of the largest ever for a chip manufacturing company in Europe, marks a significant milestone for the company and the semiconductor industry as a whole. With a strategic focus on advancing the semiconductor value chain in Europe, Black Semiconductor is poised to drive innovation and reshape the landscape of chip technology.
The funding round, led by Porsche Ventures and Project A Ventures, with participation from a host of venture capital firms, corporates, and industry leaders, underscores the confidence and support that the industry has in Black Semiconductor's vision and capabilities. The company's ability to secure €228.7 million in public funding from the German Ministry of Economic Affairs and Climate Action and the state of North Rhine-Westphalia over the next seven years under the IPCEI ME/CT2 program further solidifies its position as a key player in the European tech scene.
With an additional €25.7 million in equity funding, Black Semiconductor is well-equipped to accelerate its research and development initiatives and establish pilot line manufacturing capabilities in Aachen, Germany. The company's ambitious plans include the inauguration of a pilot manufacturing facility by 2026, showcasing the seamless integration of graphene into electronic chips. This innovative approach is set to revolutionize data communication between chips, leading to enhanced performance, energy efficiency, and a significant reduction in manufacturing costs.
Dr. Daniel Schall, co-founder and CEO of Black Semiconductor, expressed his gratitude for the strong support from the government and investors, emphasizing the importance of driving product development and pilot production facilities forward at full speed. As traditional chip technology approaches its limits, Black Semiconductor's groundbreaking innovation opens the door to faster, more powerful, cost-efficient, and energy-efficient computation, setting a new standard for the industry.
The company's commitment to contributing to the semiconductor value chain in Europe is evident in its plans to increase its workforce from 30 to 120 by 2026, creating 90 new high-tech positions. This expansion not only underscores Black Semiconductor's growth trajectory but also highlights its dedication to fostering talent and driving technological advancements in the region.
Uwe Horstmann, co-founder and General Partner of Project A, emphasized the importance of achieving independence in key enabling technologies to ensure Europe's autonomy and economic stability. With Black Semiconductor's exceptional technological know-how and substantial funding, the company is well-positioned to play a pivotal role in strengthening Europe's semiconductor industry and enhancing its technological sovereignty.
Patrick Huke, Partner and Head of Porsche Ventures, echoed this sentiment, highlighting the immense potential of Black Semiconductor's technology in various industries and future AI applications. The combination of public and private investors backing the company's vision positions Black Semiconductor as a key player in building a strong semiconductor business within Europe, bolstering domestic competitiveness and fortifying the European chip ecosystem.
In conclusion, Black Semiconductor's €254.4 million funding round represents a significant milestone in the company's journey to drive a new generation of chip technology in Europe. With a focus on innovation, collaboration, and technological advancement, Black Semiconductor is poised to lead the charge in reshaping the semiconductor industry and setting new standards for computation in Europe and beyond.
The funding round, led by Porsche Ventures and Project A Ventures, with participation from a host of venture capital firms, corporates, and industry leaders, underscores the confidence and support that the industry has in Black Semiconductor's vision and capabilities. The company's ability to secure €228.7 million in public funding from the German Ministry of Economic Affairs and Climate Action and the state of North Rhine-Westphalia over the next seven years under the IPCEI ME/CT2 program further solidifies its position as a key player in the European tech scene.
With an additional €25.7 million in equity funding, Black Semiconductor is well-equipped to accelerate its research and development initiatives and establish pilot line manufacturing capabilities in Aachen, Germany. The company's ambitious plans include the inauguration of a pilot manufacturing facility by 2026, showcasing the seamless integration of graphene into electronic chips. This innovative approach is set to revolutionize data communication between chips, leading to enhanced performance, energy efficiency, and a significant reduction in manufacturing costs.
Dr. Daniel Schall, co-founder and CEO of Black Semiconductor, expressed his gratitude for the strong support from the government and investors, emphasizing the importance of driving product development and pilot production facilities forward at full speed. As traditional chip technology approaches its limits, Black Semiconductor's groundbreaking innovation opens the door to faster, more powerful, cost-efficient, and energy-efficient computation, setting a new standard for the industry.
The company's commitment to contributing to the semiconductor value chain in Europe is evident in its plans to increase its workforce from 30 to 120 by 2026, creating 90 new high-tech positions. This expansion not only underscores Black Semiconductor's growth trajectory but also highlights its dedication to fostering talent and driving technological advancements in the region.
Uwe Horstmann, co-founder and General Partner of Project A, emphasized the importance of achieving independence in key enabling technologies to ensure Europe's autonomy and economic stability. With Black Semiconductor's exceptional technological know-how and substantial funding, the company is well-positioned to play a pivotal role in strengthening Europe's semiconductor industry and enhancing its technological sovereignty.
Patrick Huke, Partner and Head of Porsche Ventures, echoed this sentiment, highlighting the immense potential of Black Semiconductor's technology in various industries and future AI applications. The combination of public and private investors backing the company's vision positions Black Semiconductor as a key player in building a strong semiconductor business within Europe, bolstering domestic competitiveness and fortifying the European chip ecosystem.
In conclusion, Black Semiconductor's €254.4 million funding round represents a significant milestone in the company's journey to drive a new generation of chip technology in Europe. With a focus on innovation, collaboration, and technological advancement, Black Semiconductor is poised to lead the charge in reshaping the semiconductor industry and setting new standards for computation in Europe and beyond.