Funding
eoSemi Ltd has raised first round funding for the development of a silicon replacement for quartz crystals that are currently used to provide a timing reference in electronic devices.
This technology will allow a move away from the early 20th century technology of using vibrating quartz crystals and allow the timing reference to be incorporated onto the existing silicon of the device for the first time, thereby reducing part-count, cost and size. Replacing quartz crystals also paves the way for further miniaturisation and reduces susceptibility to shock.
Yorkshire-based eoSemi has now received its first venture capital investment from EV, an independent growth and venture capital fund manager, via its RisingStars Growth Fund. eoSemi is based in the Advanced Manufacturing Park Technology Centre in Rotherham, which was set up by the engineering firm Rolls Royce.
Jonathan Diggines, CEO of EV, said, “There aren’t many semi-conductor businesses anywhere in the UK, so it is particularly significant for Yorkshire to see eoSemi, a company with such potential, developing in the region.”
Ian Macbeth, founder of eoSemi, said, “EV’s investment has given us the opportunity to commercialise our technology. There are few investors that would have taken such a keen interest in the company and its technology at this proof of concept stage”.
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