Vertical Circuits Inc. (VCI), a die-level semiconductor stacking company, today announced that the company has closed $7 million in Series B funding co-led by Zurich based venture capitalist Peter Friedli of Friedli Corporate Finance (FCF) and Battery Ventures, a top tier venture capital firm focused on investing in technology companies at all stages of growth. In conjunction with the financing, Battery Ventures has also acquired the equity stake previously held by Northrop Grumman. Ken Lawler, a general partner with Battery Ventures, will join Mr. Friedli on the company's Board of Directors.
VCI will use the proceeds of the financing to expand production capacity for its stacked products and to build the sales channels for applications where system designers require high performance and/or density to meet their design goals. The company will also continue to supply high reliability electronic components, design services and ground station support to the international space community.
"The memory market is rapidly moving towards increasingly high density and high speed devices. As a result, innovative interconnect technology and packaging are key issues facing the industry. We believe we are well positioned to meet these challenges as our die stacking technology provides one of the best solutions to achieve both high performance and density. With the strong financial backing and business support of FCF and Battery Ventures, we look forward to achieving rapid company growth," said Al Vindasius, president and CEO of Vertical Circuits Inc.
VCI's near chip-scale-packaging stacking provides an ideal solution for high density, high performance DDR-1 and DDR-2 memory modules for use in server and other demanding applications. VCI's technology allows stacking of up to 8 layers of silicon vertically and can operate at speeds in excess of 1GHz. The company anticipates that its package-less micropede(TM) components and SIS (System in a Socket)(TM) stacked die BGAs will become a major leading edge product for memory module manufactures by addressing the performance and size short falls of current stackable memory and SIP solutions.
"What excited us about VCI's technology is that it is truly a leading edge, unique solution that no other company can provide today," said Ken Lawler, general partner, Battery Ventures. "We look forward to working with the company's management team as they make the next generation of die stacking technology a reality."
Peter Friedli, who also led the previous Preferred A round, welcomed new investor Battery Ventures by saying, "this change of ownership, together with the cash, will have a dynamic influence and spur the growth of the company."
About Vertical Circuits, Inc
Vertical Circuits, Inc. is a global supplier of semiconductor and electronic products and services, to worldwide commercial and aerospace customers. VCI maintains facilities in both Scotts Valley and Torrance, California. VCI's Advanced Semiconductor Products business unit has developed a die-level vertical interconnect process for the design and manufacture of ultra high-performance and high-density semiconductor modules. The Space Electronic Components business unit is a supplier of high reliability electronic components and design support services to the space industry. VCI's Ground Systems business unit is a supplier of custom, turnkey full-tracking ground stations to the commercial space industry. Prior to the latest financing, FCF has provided over $30 million to fund the research and development of VCI's die level stacking technology. VCI holds 19 US Patents on various aspects of this technology.
Corporate headquarters is located at: 10 Victor Square, Suite 100, Scotts Valley, CA, 95066. For more information, please visit the company's website at www.verticalcircuits.com.
About Friedli Corporate Finance
Friedli Corporate Finance was founded by Peter Friedli in 1986 and is one of the leading Swiss Venture Capital firms. Since its inception, Friedli Corporate Finance has invested in over 170 primarily US-based companies in the fields of biotechnology, computer technology, communications and the Internet.
Friedli Corporate Finance manages approximately $800 million USD from pension funds, banks and large corporations in Switzerland. It is also the manager of New Venturetec, a public investment company trading on the Swiss Exchange. Www.newventuretec.com
About Battery Ventures
Founded in 1983, Battery Ventures is a leading venture capital firm focused on investing in technology companies at all stages of growth from seed to later stage and tech buyouts. With a team of over 20 experienced investment professionals, Battery leverages its people, expertise and capital to actively guide companies to category dominance. The firm has invested in over 180 companies worldwide across information technology industries. From its offices in Wellesley, MA and San Mateo, CA the partnership manages over $2 billion in committed capital, including its new fund of $450 million. For more information, visit www.battery.com