Lyncean Technologies Inc. Closes $13.75 Million Funding with a Syndicate Including Intel Capital

Lyncean Technologies, a pioneer in compact accelerator-based light sources for use in industry and academia, has secured $13.75 million in the initial close of a Series B financing round with a syndicate including Intel Capital. The round included participation from current investors EuroUS Ventures AG, Anchor Fund and Quintus Vermoegensverwaltung GmbH.

The investment will support development of a novel high power extreme ultraviolet (EUV) source for potential future use in semiconductor manufacturing. Lyncean also will expand manufacturing operations for its Compact Light Source (CLS), a high flux X-ray source that makes synchrotron quality experiments possible in a local laboratory.

“The funding provided by this group of investors reinforces our vision of the Compact Light Source changing the landscape of applied research,” said Michael Feser, CEO of Lyncean Technologies. “This new round also enables initial development of an accelerator-based, clean, reliable, high power EUV source for potential use in future lithography systems.”

Lyncean Technologies will use the investment to install a Compact Light Source for customer demonstration purposes and to make required personnel investments to develop the EUV source.

“Our investment will help Lyncean grow its business and develop its extreme ultraviolet technology,” said Wendell Brooks, senior vice president of Intel Corporation and president of Intel Capital. “We are glad to support innovative approaches to semiconductor manufacturing that support the continuation of Moore’s Law.”