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TeraView wins $6M funding from investors old and new

10 Feb 2020

Cash from Wonik, Pathfinder H and Ingenious will "accelerate product and technology development in the terahertz market".

TeraView, a UK-based developer of terahertz technology and solutions, has secured $6M of funding from existing and new investors, including Wonik Investments, Pathfinder H and Ingenious. The new money raised is intended to further accelerate its product and technology development, customer support, and sales and marketing push.

The funding is also designed to ensure that TeraView "retains its leadership in the growing terahertz market and continues to provide a high level of support to each of its customers across the world," the company's announcements stated.

TeraView supplies terahertz systems to semiconductor companies and their manufacturing partners to support the implementation of advanced 2.5 and 3D packaging technologies for integrated circuits.

Advanced packaging techniques allow compact integration of key components such as microprocessors, high bandwidth memory and graphics processors used in computing and data manipulation, providing a means of enhancing performance and minimising power and space requirements in mobile phones and other electronic devices.

All of the major semiconductor companies are now offering their own packaging architectures to differentiate themselves from competitors. TeraView’s proprietary EOTPR technology has been developed with its key customers as an important enabling tool in fault isolation and inspection of these new architectures.

Improved ease-of use

The funds raised by TeraView will be used to enhance the performance, expand the capabilities and improve the ease-of use of the software and hardware used in EOTPR, as well as further build TeraView’s pre-sales and post-sales support teams in Asia and the US.

TeraView also supplies terahertz systems for the measurement of thickness of multi-layer paints used in the automotive and aerospace industries. New painting technologies such as wet-on-wet formulations are being implemented to improve automotive production line throughput. There is also a need for more accurate, non-contact means of monitoring paint quality. Both are moving the automotive industry to the implementation of terahertz as a key inspection technology.

Working with major US and European car manufacturers, TeraView is currently bringing its proprietary TeraCota product into the production line for regular inspection of automotive bodies and components. The funds raised will be used to support the implementation of this product in production lines across the world.

Dr Don Arnone, CEO and co-founder of TeraView, commented, “The follow-on investment from Nordson DAGE, coupled with new corporate investors such as Wonik Investments in Korea, underscore the level of interest from industry in our technology that we provide to our customers in our core markets. Support from new financial investors such as Ingenious in London, and Pathfinder H in Korea further demonstrate the global appeal of TeraView’s business to investors.”

Guy Ranawake, Senior Investment Director at Ingenious, commented, “There is a growing demand for non-invasive quality assurance and fault detection solutions in both the semiconductor and coatings sectors. TeraView’s solutions provide an excellent tool to meet the requirements of customers by providing greater accuracy and faster analytics on a non-invasive basis compared to competing technologies. We look forward to seeing the growth of the company which aligns strongly with our investment strategy.’’

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