• Black Semiconductor, a startup aiming to create next-generation chip technology, said it raised 254.4 million euros (US$274 million), mainly from public funding.
• The German ministry of economic affairs and the German state of North Rhine-Westphalia invested 228.7 million euros (US$248 million) in public funds.
• The investment in the German semiconductor company, backed by public funds, underscores Europe’s ambition to keep up with the U.S.
• Black Semiconductor, a startup aiming to create next-generation chip technology, said on Wednesday that it raised 254.4 million euros (US$274 million), mainly from the German government, in a further sign that Europe is ramping up its push in the critical components.The German ministry of economic affairs and the German state of North Rhine-Westphalia invested 228.7 million euros (US$248 million) in public funds. Porsche Ventures and venture capital firm Project A led the remaining 25.7 million euro (US$28 million) equity portion of the funding.

  Black Semiconductor said the money will be used to build a pilot production facility in Aachen, Germany, with the aim of mass production by 2031. The startup said it will also look to grow its headcount from 30 to 120 employees by 2026.

news link:

https://www.cnbc.com/2024/06/12/black-semiconductor-raises-274-million-in-funding-in-europe-chip-push.html