The Venture Codex

Led · Series D · Jul 2026

Forge Nano develops Atomic Layer Deposition (ALD) technology via its Atomic Armor platform, a scalable nano-scale coating system intended to improve performance of semiconductor devices and battery materials. The company is positioned to serve AI-era chip manufacturing and defense battery applications and has described its offerings as advanced surface coatings that unlock peak performance. Forge Nano is based in Denver and has entered into a merger agreement with Archimedes Tech SPAC Partners II to pursue a NASDAQ listing. The company recently closed a $97 million Series D and secured $123 million in PIPE commitments (including a recent $23 million tranche), with strategic participation from Samsung SDI and Horizons Ventures. Upon closing the proposed business combination, Forge Nano would have substantial pro forma cash (over $367 million assuming no redemptions) to fund commercialization and domestic manufacturing expansion. The company intends to use the proceeds to accelerate deployment of its ALD semiconductor equipment platform and expand production of advanced lithium-ion battery materials.