3D Glass Solutions Raises Additional $4 Million in Series B1 Round Extension

Rhea-AI Summary

3D Glass Solutions Inc. has successfully raised an additional $4 million in its extended Series B1 funding round, bringing the total to $24 million. This funding saw participation from Corning, Menlo Microsystems, and Sun Mountain Capital. The financing follows a licensing agreement with Corning for through glass vias technology, enhancing 3DGS's offerings in the semiconductor market. The company aims to supply components for Menlo Microsystems' Ideal Switch™ under a long-term partnership.

Positive

• Successful Series B1 funding raised an additional $4 million, totaling $24 million.
• New and existing investors, including Menlo Microsystems and Corning, demonstrated confidence in 3DGS.
• Licensing agreement with Corning enhances technological capabilities.

Negative

• None.

New Investments Bring the Series B1 Total to $24 Million

ALBUQUERQUE, N.M.--(BUSINESS WIRE)-- 3D Glass Solutions Inc. (3DGS), a leading innovator of glass-based three-dimensional passive radio frequency (RF) devices, announced today it has raised an additional $4 million in an extended Series B1 funding round. 3DGS welcomed new investor Menlo Microsystems Inc., as well as follow-on investments from both Corning Incorporated (NYSE: GLW) and Sun Mountain Capital, bringing the total Series B1 raise to $24 million.

“The Series B1 round extension highlights the enthusiasm of both existing and new investors in 3DGS technology and growth initiatives,” said Mark Popovich, CEO and president of 3DGS.

The extended Series B1 round comes on the heels of 3DGS securing a licensing agreement with Corning for process and know-how related to forming through glass vias (TGV) in Corning® HPFS® Fused Silica, as well as a corresponding long term supply agreement for glass wafers. The addition of this technology complements 3DGS’ existing portfolio and provides entry into adjacent market areas. The initial use of the technology will be for supply of components to Menlo Microsystems for its Ideal Switch™, under a long-term supply agreement between 3DGS and Menlo Microsystems.

“Corning continues to believe in the versatility and benefits of through glass vias, or TGV, technology that will support the progression of glass use in the semiconductor industry, enabling the industry to facilitate innovative solutions supporting Moore’s Law,” said David Velasquez, vice president and general manager, Corning Advanced Optics. “We are looking forward to furthering our long-term partnership with 3DGS and its novel product and process capability that will advance this unique technology.”

"We are excited to strengthen our partnership with 3DGS and it underscores the importance of our longstanding strategic relationship in driving our Ideal Switch™ technology into many different segments," said Russ Garcia, CEO of Menlo Micro. "As we continue to advance the most important electronic component since the transistor, the synergies between Menlo and 3DGS are growing. The development of glass processing and advanced glass packaging has become a critical element of the semiconductor supply chain, and we look forward to working together to bring exciting new products to the market in the years ahead."

For more information about custom design and fabrication using TGVs, contact sales@3dgsinc.com or (505) 916-5590.

About 3D Glass Solutions

3D Glass Solutions (3DGS) is a world-class expert on the fabrication of electronic packages and devices using photo-definable glass-ceramics. The company manufactures a wide variety of glass-based, system-in-package (SiP) devices and components using its patented low-loss photosensitive APEX® glass ceramic technology for applications in RF electronics and photonics used in automotive radar, IC electronics, medical, aerospace, defense, wireless infrastructure, mobile handset and IoT industries. 3DGS offers high-precision products with exceptional high-frequency and low-loss properties. 3DGS glass ceramic-based RF products can be combined with any number of designs or devices to create incredibly unique and valuable SiP products. The company has created foundational patent positions related to all photosensitive glass- ceramic materials and devices and owns the fundamental intellectual property for all four positions (materials, design, systems and manufacturing) related to glass-ceramic devices for the electronics packaging industry. 3DGS leverages its unique product solutions to provide device manufacturing and systems integration services for several standard and custom products. To learn more about 3DGS, visit www.3DGSinc.com.

APEX® is a registered trademark of 3D Glass Solutions Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220131005011/en/

Jackie Townsend

Townsend Team

jackie@townsendteam.com

Source: 3D Glass Solutions

FAQ

What is the total amount raised in 3D Glass Solutions' recent funding round?

3D Glass Solutions raised a total of $24 million in the extended Series B1 funding round.

Which companies participated in the Series B1 funding for 3D Glass Solutions?

The funding round included participation from Corning, Menlo Microsystems, and Sun Mountain Capital.

How does the recent funding impact Corning and its relationship with 3D Glass Solutions?

The funding strengthens Corning's long-term partnership with 3D Glass Solutions and supports advancements in their glass technology for the semiconductor industry.

What technology does 3D Glass Solutions plan to supply to Menlo Microsystems?

3D Glass Solutions will supply components for Menlo Microsystems' Ideal Switch™ under a long-term supply agreement.

How does this funding round affect Corning's role in the semiconductor sector?

Corning's investment and partnership with 3D Glass Solutions will enhance the use of glass technology in the semiconductor industry.