Shocking Technologies Raises $7M in a First Round of Venture Capital Funding |
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By: Shocking Technologies Inc. Posted: 2007-04-18 06:06:24 |
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Shocking Technologies Inc., a privately-held firm developing and selling advanced voltage switchable dielectric materials to the semiconductor and electronics industries, announced a $7 million financing round co-led by ARCH Venture Partners and ATA Ventures with participation by several industry luminaries. In addition, Shocking Technologies has assembled a world-class board of directors of five experienced entrepreneurs and technologists.
Shocking Technologies will use the capital to accelerate deployment of its patented voltage switchable dielectrics technology for several applications including electrostatic discharge protection of semiconductor chips, printed circuit boards and metal patterning of small features on dielectric for many electronic applications. These areas have become major technical issues identified in the ITRS Roadmap for the electronics industry as chips and circuits continue to shrink in size. Shocking Technologies will help reduce the cost, size, and time-to-market of consumer electronics and increase their reliability. "We look for great entrepreneurs, great technology, and large markets. In Shocking Technologies we found all three", said Ajit Medhekar, a Venture Partner with ARCH Venture Partners. Medhekar has 25 years of semiconductor industry experience as a technologist, entrepreneur and CEO in a variety of organizations including National Semiconductor, AMD, Alliance Semiconductor, and Lara Technology. "We are excited to invest and partner with Shocking Technologies, who is the technology leader in an important part of the electronics industry value chain and we look forward to helping them grow", said Pete Thomas, co-founder and Managing Director of ATA Ventures. Thomas has 25 years of experience in the venture capital industry and was an early investor and board member of many successful innovative companies such as Atmel, Altera, Cirrus Logic, and FormFactor. "The founding team of Shocking is very pleased to have attracted experienced technology investors from ARCH and ATA. We are moving quickly to build our business using our unique technology to address market demands", said Lex Kosowsky, President and CEO of Shocking Technologies. Kosowsky has 25 years of microelectronics industry experience at several organizations including President & CEO positions at DMS Technologies and Leading Technologies, and 12 years leading National Semiconductor's Dyna-Craft subsidiary. Shocking's board of directors includes Messrs. Kosowsky, Thomas and Medhekar, and Silicon Valley veterans, James Hogan and Gary Kennedy. Hogan was a senior executive at Cadence and Artisan Technologies, and Kennedy is former CEO of Orbit Semiconductor. About Shocking Technologies, Inc. Shocking Technologies, founded in 2006, is based in San Jose, California, and is a leader in the area of voltage switchable dielectrics for diverse applications. Shocking is venture capital backed by ARCH Venture Partners and ATA Ventures. More information can be found at http://www.shockingtech.com. About ARCH Venture Partners ARCH Venture Partners has been investing in seed and early-stage technology companies for over 20 years and has special expertise in building technology companies with leading scientists and entrepreneurs from universities and national laboratories. ARCH manages over $1 billion in capital, and operates nationally with offices in Austin, Chicago, San Francisco, and Seattle. More information can be found at http://www.archventure.com. About ATA Ventures ATA Ventures focuses on early stage private Information Technology (IT) companies, providing seed and early stage capital financing. With over $350 million of capital under management, the ATA Ventures team seeks out investments which appear to offer above average prospects for capital growth and where the combined backgrounds of the ATA Ventures professionals can provide positive assistance with the prospective business opportunity. The firm's investment professionals offer an average of over 25 years of experience per Managing Director in both venture and operating roles. For more information, please visit http://www.ataventures.com. |
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