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Lux Semiconductors raises $2.3 million in seed-round funding for System-on-Foil semiconductor platform

Investors include Ultratech Capital Partners, AIN Ventures, Hemisphere Ventures, and Lockheed Martin Ventures.

Albany, NY. Feb 20, 2023 - Four venture capital groups have provided Lux Semiconductors seed round funding to develop a new generation of advanced chip packaging, which promises to provide chip designers increased performance and lowered cost. The round was led by Ultratech Capital Partners, with participation from AIN Ventures, Hemisphere Ventures, and Lockheed Martin Ventures. The new funding will accelerate the commercialization of System-on-Foil, set to deliver ‘More than Moore’.

For the past 50 years, semiconductor innovation has been achieved through unrelenting miniaturization of the transistor, following Moore’s Law. But the end of Moore’s era is now in sight, and an industry consensus on a new path forward has emerged – transistor miniaturization will give way to system miniaturization. Now, state-of-the-art chips will be partitioned into smaller ‘chiplets’ and reconnected inside advanced chip packaging.

System-on-Foil benefits

As advanced chip packaging quickly becomes the next frontier of the semiconductor industry, Lux’s System-on-Foil platform offers a compelling set of unique capabilities:

  • Size. The new design allows for many small die or chiplets to be closely connected through high-density, high-speed interconnects for reduced package size.

  • Performance. System-on-Foil offers improved high frequency performance and superior thermal management compared to existing materials.

  • Supply Chain. Whereas 97% of chip packages are produced outside the U.S. today, Lux manufactures its products domestically, critical for supply chain security and U.S. growth.

“To reclaim America’s preeminence in semiconductor manufacturing, we must focus not only on reshoring chip production but also on the advanced packaging technologies that are set to unleash a new era of system-level innovation,” says Lux Semiconductors CEO, Shane McMahon. “Adding more fabrication capacity is important for national security, but to truly regain semiconductor superiority, we must focus on building and scaling tomorrow’s technologies. Lux is honored to welcome our new investors who are helping the company fulfill this mission.”

Investor comments

Ultratech Capital “Ultratech is excited to support the team at Lux as they continue to develop their advanced semiconductor technology. Building up domestic semiconductor capability is of strategic importance to the United States and its allies, as reflected in the significant funding for this particular capability in the recent CHIPs Act. The significant commercial potential of this technology is also compelling and we look forward to assisting Lux deliver their unique capability across a broad set of applications.” Damian Perl, Chairman of Damazein and Founder of Ultratech

Lockheed Martin Ventures – “Maintaining a secure supply of semiconductors is critical to Lockheed Martin’s supply chain that enables our customers’ national security missions,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. “Lockheed Martin has been clear in our support to expand America’s vital semiconductor industry and this investment in Lux Semiconductors demonstrates our commitment to domestic supply capabilities that are in line with our larger 21st century security vision.”

Board of Directors addition

In addition to providing funding and leading the round, Ultratech Capital has elected Principal, Dale Davis, to the Lux Semiconductors Board of Directors.

About Lux Semiconductors

Lux Semiconductors is a microelectronics startup delivering More than Moore through advanced system-level packaging. To address the emerging needs of high bandwidth, low latency, and small form factor, the company has developed a new chip packaging platform, System-on-Foil, designed for chiplet-based heterogeneous integration, System-in-Packages, and Multi-Chip Modules. Lux has received over $6 million in non-dilutive funding, including from the U.S. Air Force, U.S. Space Force, U.S. Department of Energy, and National Science Foundation, and is backed by one of America’s top accelerators, Techstars, as well as leading dual-use venture investors.

About Ultratech Capital Partners

Ultratech Capital Partners provides flexible capital to innovative technology enterprises developing software, systems and processes deemed essential for long-term national security, that solve key generational challenges and are highly transferable across multiple sectors. As sector insiders, Ultratech focuses on early to growth stage deep-tech companies that demonstrate compelling qualities and can become pureplay enterprises of real scale and impact.

About Lockheed Martin Ventures

Lockheed Martin Ventures makes strategic investments in companies that are developing cutting edge technologies in core businesses and new markets important to Lockheed Martin. More than a source of capital, Lockheed Martin Ventures provides portfolio companies with access to our world-class engineering talent, state-of-the-art technologies, and research and access to the company’s international business relationships and supply chain.




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