Beeco Inc., a semiconductor spinout from RTI International, has raised $5 million in Series A funding. RTI and Intersouth Partners co-led the round. Beeco's technology platform allows bare die integrated circuits to be densely populated onto a large area silicon substrate, replacing the current method of putting packaged die onto a conventional printed circuit board.
Beeco, Inc., a semiconductor company created with technology developed at RTI International, announced today that it has closed a $5 million financing round. The company also announced that it received the Council for Entrepreneurial Development's Entrepreneurial Excellence Spin-Out of the Year Award.
RTI International and venture capital firm Intersouth Partners co-led the Series A round. The financing will be used to launch the company, expand the management team and continue product development. Katrin Burt of Intersouth Partners and Jim Gibson of RTI International will join the company's Board of Directors.
The company's technology platform allows bare die integrated circuits to be densely populated onto a large area silicon substrate, replacing the current method of putting packaged die onto a conventional printed circuit board. As compared to these traditional electronic assemblies, this breakthrough platform allows a smaller overall system to deliver higher functionality and performance, with reduced power requirements due to fewer signal discontinuities and shorter traces between die. Beeco will initially apply its technology to the reconfigurable computing market, in which high performance, low power and small size are critical.
“We believe that Beeco is positioned to make significant breakthroughs in computing capability,” said Katrin Burt of Intersouth Partners. “The company's proprietary technology will result in smaller and simpler semiconductor structures with improved performance, solving significant industry problems.”
“Industry demands for smaller, faster and more energy efficient electronics create some very exciting possibilities for this new technology,” said John Goehrke, President and CEO of Beeco. “With important development work at RTI behind us and the support of strong financial partners, we look forward to launching and growing the company.”
“We are pleased to see this innovative technology take the next step and enter the commercial marketplace where its potential can be applied in real world settings and products,” said RTI International President and CEO Victoria Haynes. “We are optimistic that the work our scientists and engineers have invested in this technology will lead to significant advances in computing technology and innovative circuit board development.”
About Beeco, Inc.
Beeco is developing the next generation of chip level integration through a Silicon Integrated Circuit Board (SICB) technology platform. The SICB platform allows for the integration of semiconductor devices on a silicon substrate rather than a conventional printed circuit board substrate. Products that use SICB technology will exhibit higher performance and a smaller form factor, will be less expensive and will use less power than products available today. The company, created with technology developed at RTI International, received CED's 2008 Entrepreneurial Excellence Spin-Out of the Year Award.