Comptek Solutions is pleased to announce the successful closing of its Series A funding round. The round consists of an equity investment of €8 million with participation from Horizon Europe EIC Fund, a key strategic partner in the home appliance industry, and LIFTT SpA, a leading Italian venture capital firm focused on early-stage investments in startups and companies. It's possible. Small and medium-sized businesses with high growth impact and ESG
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Image Credit: Comptek Solutions
This latest milestone, which compliments the €2.45 million grant awarded by the EIC Accelerator in 2022, represents firm confidence in Comptek Solutions' vision, technical capabilities and growth potential. The participation of this group of investors will provide Comptek with unparalleled support in areas such as scaling-up growth, accelerating technological innovation progress, and accelerating the pace of technology enablement and industrialization for next-generation applications in optoelectronics and power electronics.
The landmark Series A funding round expands beyond the company's initial seed funding effort, overseeing the development of its robust technology and successful execution of its business model and market entry strategy globally. Founded in June 2017 by CTO Jouko Lång and CEO Vicente Calvo Alonso, the company was spun out of the University of Turku, Finland, where its core technology, Kontrox, was developed by Jouko along with other materials scientists and semiconductor engineering researchers. The company's core R&D team to date.
Svetoslava Georgieva, Chair of the Board of Directors of the EIC Fund, said: “Comptek Solutions has proven to be a leading innovator in the rapidly growing compound semiconductor device market with its unique passivation technology. We are pleased to support Comptek on its journey to deliver disruptive solutions that fill market gaps on a global scale. “Their technology can play a critical role in faster adoption of critical technologies such as 5G/6G communications, AR/VR, mobility, IoT, and quantum computing.”
“Passivation is an essential element in the manufacturing of advanced optoelectronic chips and Comptek Solutions is a key driver in this important niche market,” said Pierluigi Freni, Project Manager at LIFTT SpA. Their solutions disrupt the value chain by introducing new processing technologies that enable unprecedented levels of chip efficiency and help significantly reduce production costs. “We are excited about the promising prospects their game-changing technology presents for the global compound semiconductor market and are therefore excited about the opportunity to invest in this innovator specializing in passivation.”
Vicente Calvo Alonso, CEO and Co-Founder of Comptek Solutions, said: “Closing this investment round is a very important step on our path towards broader market entry and scale for the company. Despite limited resources in the first few years, we have made significant developments to validate our technology and its suitability for important semiconductor applications such as optoelectronics and power electronics. Thanks to our continued R&D excellence and commitment to creating value for our customers through technology and innovation, we have built a strong customer base and are now launching the first full turnkey solution for the passivation of edge-emitting lasers using the company's unique passivation technology. I plan to do it. and custom equipment.
With the proceeds from our latest funding round, we will accelerate the growth of our team and technology portfolio to deliver the most efficient passivation solutions for other key applications such as power electronics, where leading European manufacturers have already committed to working with us. .
Vicente Calvo Alonso, CEO and Co-Founder of Comptek Solutions
With strong growth momentum of 11.6% CAGR through 2031, driven by key application drivers, compound semiconductors are rapidly emerging as a market leader as a key enabling technology for next-generation electronics and communications. Comptek Solutions' breakthrough innovation with Kontrox technology will add further growth opportunities to the market enabling more reliable, power-efficient and affordable devices through integrated passivation solutions on a global scale.