Participated · Series C · Feb 2020

Inpria develops metal oxide photoresists composed of tin-oxide nanoclusters optimized for extreme ultraviolet (EUV) lithography. Its metal-oxide resists provide higher resolution and strong etch selectivity versus traditional polymer-based resists, enabling simpler manufacturing flows, larger process windows, and potential reductions in cost of ownership. The company recently brought online a high-volume manufacturing plant to support an initial production ramp for customers. Inpria positions itself as a strategic supplier to semiconductor manufacturers adopting EUV patterning and highlights participation from photoresist, equipment and industrial chemical manufacturers among its backers. Financially, Inpria completed a $31 million Series C financing led by JSR Corporation with participation from SK hynix, TSMC Partners, Air Liquide Venture Capital (ALIAD), Applied Ventures, Intel Capital and Samsung Venture Investment Corporation. The funding and manufacturing scale-up are intended to accelerate market acceptance and broader adoption of its EUV photoresist platform. Inpria is a pioneer in high-resolution metal-oxide photoresists designed to unlock the full potential of EUV lithography. Its tin-oxide molecular resists offer substantially improved resolution compared with traditional polymer-based resists and can quadruple the efficiency of EUV photon absorption, improving sensitivity and reducing pattern variability. The materials provide high etch selectivity and act as patternable hardmasks, enabling simpler manufacturing flows, larger process windows, and reduced manufacturing cost. Inpria says its solution is purpose-built to support EUV at the 7nm process node and beyond. Fueled by growing customer demand, the company plans to complete a pilot manufacturing facility, commence commercial production, and grow its workforce to support more customer engagements and joint development of integrated processes. The company is based in Corvallis, Oregon. Inpria develops metal oxide photoresists aimed at extreme ultraviolet (EUV) lithography to enable semiconductor patterning at 7nm and beyond. Its inorganic thin-film resists are designed to improve imaging capability and simplify the pattern transfer process. The company said it recently improved resist sensitivity and has been working with partners on integration and performance needs. Inpria will use proceeds from the financing to complete product development and scale up manufacturing for its metal oxide photoresists. The announcement noted growing industry support for its novel patterning materials and development relationships. The company communicated optimism about 2016 as a pivotal year for its products. Inpria Corporation, based in Corvallis, Oregon and led by CEO Andrew Grenville, develops high-resolution photoresists and a portfolio of photo-condensed molecular oxides. Its materials aim to enable deposition directly from solution of atomically smooth, intrinsically dense, and directly photopatternable metal oxide films. The technology is positioned to deliver advanced performance with simplified processing. In June 2014 the company closed $1.45M in funding, led by the Oregon Angel Fund with a $1.0M investment and participation from individual members of the fund. Inpria said it will use the proceeds to accelerate technology development and to hire in Oregon. Earlier in February 2014 the company announced $7.3M in funding and commitments from Samsung Venture Investment Corporation, Applied Ventures, LLC and Intel Capital. Inpria develops patented inorganic photoresists and photo-condensed molecular oxides designed to extend Moore’s Law. The company focuses on extreme ultraviolet (EUV) lithography, delivering nanoscale imaging below 20nm to enable smaller electronic devices. Its portfolio also includes materials for other emerging semiconductor patterning technologies. Led by President and CEO Andrew Grenville, Inpria is commercializing these materials for next-generation chip manufacturing. The company is based in Corvallis, Oregon. Inpria received $4.7M of a committed $7.3M equity financing and intends to use the proceeds to expand the team and accelerate product development.

Participated · Equity · Dec 2011

Stion produces high-efficiency thin-film solar modules using a simple, low-cost monolithically integrated circuit design and state-of-the-art materials and device technology. Its modules have a 65 cm x 165 cm form factor and Stion reported a production-scale monolithic thin-film circuit verified at 14.1% efficiency by NREL. The company is headquartered in San Jose, California and recently opened a mass production facility in Hattiesburg, Mississippi. Stion is continuing planned expansion of the Hattiesburg facility and will establish a subsidiary, Stion Korea, to build a thin-film module factory to serve Asian and European markets. As part of its strategic growth, Stion said it will make a $35M initial investment into Stion Korea and pursue collaboration to lower costs and improve module efficiency through equipment development. Stion is a San Jose, Calif.-based startup developing thin-film solar panels using CIGSS (copper indium gallium sulfur-selenide) technology. Its core product is CIGSS thin-film photovoltaic panels and the company has been working to move from laboratory testing to commercial sales. Under a recent deal, TSMC bought a $50 million stake, signed a licensing and joint development agreement, and will manufacture the solar modules Stion needs to commercialize its products. The agreement effectively transfers the CIGSS design to TSMC, according to the article. Stion previously raised $6 million in 2006 and $15 million in 2007 and has backing from investors including Khosla Ventures, General Catalyst Partners, Braemar Energy Ventures, Moser Baer Photovoltaic and Lightspeed Venture Partners. The company has benefited from corporate financing amid a broader pullback by venture capital away from thin-film projects.