Inpria, a US-based semiconductor manufacturing technology spinout of Oregon State University (OSU), received $31m yesterday in a series C round led by petrochemical materials provider JSR Corporation.

Memory semiconductor provider SK Hynix also took part, as did TSMC Partners, Intel Capital, Aliad, Applied Ventures and Samsung Venture Investment: vehicles for chipmakers TSMC and Intel, industrial gases supplier Air Liquide, semiconductor manufacturing technology provider Applied Materials and electronics producer Samsung.

Founded in 2007, Inpria produces a range of metal oxide photoresists – light-sensitive materials – for extreme ultraviolet lithography, a semiconductor manufacturing process that relies on a narrow wavelength of ultraviolet light to form patterns on photoresists at a high resolution.

Photoresists are an integral part of building integrated circuits and Inpria’s technology simplifies the manufacturing process while reducing the costs of computer chips.

Mark Slezak, president of JSR Corporation’s US subsidiary, JSR Micro, has joined Inpria’s board of directors in connection with the round, which brought the company’s total funding to more than $76m.

Samsung subsidiary Samsung Ventures led a $23.5m series B round for Inpria in 2017, investing with JSR Corporation, Aliad, Applied Ventures and Intel Capital.

The company had previously raised $10m in a 2016 series A round led by Air Liquide and backed by Samsung Venture Investment, Intel Capital and photolithography technology manufacturer Tokyo Ohka Kogyo.

Intel Capital, Samsung Ventures and existing backer Applied Ventures had already taken part in a $7.3m round for Inpria in 2014 with Oregon Angel Fund. The company had secured $160,000 in 2010  according to a regulatory filing.

The original version of this article appeared on our sister site, Global University Venturing.

Inpria, a US-based semiconductor manufacturing technology spinout of Oregon State University (OSU), yesterday received $31m in a series C round led by petrochemical materials provider JSR Corporation.
Memory semiconductor supplier SK Hynix and TSMC Partners, the investment arm of chipmaker Taiwan Semiconductor Manufacturing Company, also took part in the round.
Aliad, Applied Ventures, Intel Capital and Samsung Venture Investment, respective units of industrial gases supplier Air Liquide, semiconductor manufacturing technology provider Applied Materials, chipmaker Intel and electronics group Samsung, filled out the round.
Founded in 2007, Inpria produces a range of metal oxide photoresists – light-sensitive materials – for extreme ultraviolet lithography, a semiconductor manufacturing process that relies on a narrow wavelength of ultraviolet light to form patterns on the photoresists at a high resolution.
Photoresists are an integral part of building integrated circuits and Inpria’s technology simplifies the manufacturing process, while reducing the costs, of computer chips.
Inpria did not specify what it intends to do with the series C funding. Mark Slezak, president of JSR Corporation’s US subsidiary, JSR Micro, has joined Inpria’s board of directors.
Samsung Ventures, a corporate venturing arm of Samsung, previously led a $23.5m series B round for Inpria in 2017, with participation from JSR Corporation, Aliad, Applied Ventures and Intel Capital.
Air Liquide led a $10m series A round in 2016, with commitments from Samsung Venture Investment, Intel Capital and photolithography technology manufacturer Tokyo Ohka Kogyo.
Samsung Ventures, Intel Capital and Applied Ventures had already taken part in a $7.3m round in 2014 together with Oregon Angel Fund.
Applied Ventures was identified as an existing backer at the time, though details about its earlier commitment could not be ascertained. The company had secured $160,000 in equity and debt financing in 2010, according to a regulatory filing.