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- Halo Industries Raises $80M in Oversubscribed Series B Funding
Halo Industries Raises $80M in Oversubscribed Series B Funding
Slice of Manufacturing Team
July 16, 2024
Key Highlights:
$80M raised in oversubscribed Series B funding round
Funding led by USIT, with participation from 8VC and SAIC
Expansion of laser-based SiC manufacturing technology
Enhanced clean tech development and energy efficiency
Diverse applications in renewable energy, EVs, and more
Source (Business Wire)
Notable Quotes:
“Amid the explosive growth in demand for next-generation power electronics with improved energy efficiency, our laser-based manufacturing tools and SiC production are critical components for maintaining momentum in clean tech development.”
“Semiconductors are a critical technology area for the U.S. to remain a global leader in, and Halo Industries plays a pivotal role by offering tools that solve some of the biggest pain points in the industry.”
Our Take:
The substantial $80M funding secured by Halo Industries marks a significant milestone in the semiconductor industry's ongoing evolution. Halo’s laser manufacturing technology addresses critical inefficiencies in SiC production, which is vital for advancing power electronics. With the backing of prominent investors like USIT, 8VC, and SAIC, Halo is poised to enhance its technological reach, driving innovation across multiple sectors including renewable energy, electric vehicles, and telecommunications. This funding not only supports Halo’s mission to redefine manufacturing standards but also underscores the growing importance of clean technology in today’s market.