North Carolina State University semiconductor material spinout HexaTech will seek $3.5m from its latest round to bring its overall funding to roughly $12m.
HexaTech, a US-based semiconductor material spinout from North Carolina State University, raised $2.7m of a targeted $3.5m round from undisclosed investors on Thursday, according to a securities filing.
Founded in 2005, HexaTech supplies crystal aluminium nitride substrates that can be used as wide-bandgap semiconductors for purposes such as biological threat detectors, electricity conversion switches and radio frequency parts for satellite communications.
Aluminium nitride offers both thermal conductivity and electrical insulation, and the material has also been known to feature within heat sinks for electronic devices.
HexaTech claims its crystal substrates are sufficiently concentrated to supplant alternative semiconducting materials such as sapphire and silicon carbide.
HexaTech has now amassed approximately $12m in equity debt financing, according to securities filings.
The company closed a $8.9m series A round in 2005 led by VC firm Intersouth Partners and backed by HIG Ventures, Sevin Rosen Funds and NC Idea.
More recently, HexaTech received $500,000 in debt from unnamed investors in October 2014, adding to $750,000 of debt accrued ten months earlier.
