AMEC secures $58 Million in series C funding

Printer Print Email Email
San Francisco: Advanced Micro-Fabrication Equipment (AMEC), an Asia-based semiconductor equipment player, has announced that it has secured $58 million in series C financing. New investors include Shanghai Venture Capital (SHVC) and Shanghai Pudong Science and Technology Investment. Existing investors including Walden International, Lightspeed Venture Partners, Goldman Sachs, Redpoint Ventures, Global Catalyst Partners, Interwest Partners, Bay Partners, QUALCOMM Ventures and KT Venture Group also participated in the round.

In the last 12 months, AMEC has placed Primo D-RIE and Primo HPCVD tools at semiconductor manufacturing fabs in three key Asia regions, and plans to ship additional systems soon to customers in other strategic locations. The Primo D-RIE Etch tool, in particular, has demonstrated superior performance in the field, even exceeding AMEC�s original expectations. Given the positive market reaction and the high growth potential of the Etch segment, AMEC has made a strategic decision to focus its R&D and financial resources on this product in the near term. The new funding will support that effort.

Walden International's chairman, Lip-Bu Tan, said, "We commend the management team for continuing to execute on their corporate and technology roadmap while keeping a stringent eye on the bottom line. Closing this substantial round in today�s global financial climate validates the company�s outstanding technology value proposition and smart business strategy."

AMEC's CEO, Gerald Z. Yin said, "We are grateful to our investors who continue to generously support us, and we welcome our new financing partners. The last funding event propelled our transition from R&D to production. Now, with tools in the field, we're in an excellent position to support additional growth."

SPOTLIGHT
Startup City
Youth are leading India's start-up ecosystem where the median age of founder-entrepreneurs..
Business
The Pentagon has selected Microsoft and Amazon Web Services (AWS, the cloud computing arm ..
Career
Wiley, a global leader in research and education has announced a series of blended learning progr..
Technology
Facebook-owned messaging app WhatsApp is still developing its previously announced "Vacatio..
Enterprise IT
Taking on streaming giants like Netflix and Hulu, Walt Disney Co. has announced it will laun..
US Indian
Facebook-owned photo messaging app Instagram has launched the beta version of its in-app sh..
Entertainment
"Game of Thrones" author George R.R. Martin doesn't want season eight to be the final chapter of "..
Finance
The Reserve Bank of India injected a total liquidity of Rs 2.98 lakh crore in the market in 20..
Gadgets
Google Pixel and OnePlus smartphones are catching up and giving stiff competition to Samsu..