Singaporean startup Nexstrom announced on Tuesday that it has raised a $12 million seed round from investors including Xora Innovation, Foothill Ventures, and SEEDS. This funding brings the company's total raised to $15 million.
Nexstrom is developing equipment and processes to enable the manufacturing of extremely thin semiconductors, known as transition-metal dichalcogenides (TMDs), directly on chip wafers. These 2D materials are being explored as an alternative to silicon to help further shrink chip sizes and address issues like power loss and heat.
The company's product, North Star, is designed to grow TMDs on 300mm (12-inch) wafers used in commercial chipmaking. Nexstrom plans to use the new funding to further develop its technology, improve process control, expand its team, and support qualification programs with potential customers. The startup anticipates its equipment will be ready for commercial production between 2030 and 2035.