TeraView raises $5.5m for global expansion
Cambridge terahertz imaging spinout TeraView has raised $5.5m from a consortium of global investors to accelerate the growth of its semiconductor, industrial and analytical business in Asia, the US and the EU.
“We are delighted to have attracted support from new investors, including some of our key customers. The geographical spread of our investors – US, Asia, EU – also reflects the global nature of our business. Customers are deploying our products at their production sites across the world, and this investment greatly enhances our ability to support those customers, as well as expand our product development and sales and marketing activities in strategic areas such as the Asian semiconductor market,” Said Dr Don Arnone, CEO at TeraView
Key areas for focus include sales and marketing in Asia, as well as further product development in its semiconductor inspection market. Funding will also be used to enhance support and collaborations with existing customers in these markets.
The company was spun out of Toshiba Research Europe in April 2001 by its co-founders, Sir Michael Pepper and Arnone to exploit the intellectual property and expertise developed there, and also works closely with the Cavendish laboratory where Pepper is a professor. The technology is also used for spectroscopy, as it produces faster results than X-ray and enables non-destructive, internal, chemical analysis of tablets and capsules for pharmaceutical testing.
TeraView is currently working closely with major pharmaceutical customers on drug formulation, product development and manufacturing. It also works with customers in the analytical instrumentation and defence, supporting government laboratories active in homeland security.