FREMONT, CA -- Lyncean Technologies, a pioneer in compact accelerator-based light sources for use in industry and academia, has secured $13.75 million in the initial close of a Series B financing round with a syndicate including Intel Capital. The round included participation from current investors EuroUS Ventures AG, Anchor Fund and Quintus Vermoegensverwaltung GmbH. The investment will support development of a novel high power extreme ultraviolet (EUV) source for potential future use in semiconductor manufacturing. Lyncean also will expand manufacturing operations for its Compact Light Source (CLS), a high flux X-ray source that makes synchrotron quality experiments possible in a local laboratory.
"The funding provided by this group of investors reinforces our vision of the Compact Light Source changing the landscape of applied research," said Michael Feser, CEO of Lyncean Technologies. "This new round also enables initial development of an accelerator-based, clean, reliable, high power EUV source for potential use in future lithography systems."
Lyncean Technologies will use the investment to install a Compact Light Source for customer demonstration purposes and to make required personnel investments to develop the EUV source.
"Our investment will help Lyncean grow its business and develop its extreme ultraviolet technology," said Wendell Brooks, senior vice president of Intel Corporation and president of Intel Capital. "We are glad to support innovative approaches to semiconductor manufacturing that support the continuation of Moore's Law."
About Lyncean Technologies
Lyncean Technologies, Inc. was founded in 2001 to develop the Compact Light Source (CLS), a miniature synchrotron X-ray source based on research performed at the SLAC National Accelerator Laboratory and Stanford University. The CLS replaces the conventional "undulator" magnets in large synchrotrons via laser technology, which scales down the entire device by a factor of 200 to provide industrial and academic customers a home solution for state-of-the-art X-ray needs. Lyncean's newest development is a novel EUV source based on coherent photon generation in a compact electron storage ring, specifically designed for high volume manufacturing semiconductor lithography. For more information visit: http://www.
About Intel Capital
Intel Capital invests in innovative startups targeting artificial intelligence, autonomous driving, workload accelerators, 5G connectivity, virtual reality and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested $12.3 billion in 1,530 companies worldwide, and more than 660 portfolio companies have gone public or been acquired. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit http://www.