Moov announces new HQ and plans to triple headcount in 2022
Moov, a startup operating a marketplace for used semiconductor manufacturing equipment, is moving into its new – 32,000 square feet – headquarters in Tempe, Arizona. The company is now setting the stage for a massive expansion.
“With our permanent headquarters at 100 Mill, we establish Moov as among the most significant players within the semiconductor industry here in the Silicon Desert,” said Moov co-founder and CEO Steven Zhou, in a press release. “Our accelerating success and funding are affirmations that Moov is filling a critical need in the semiconductor industry — creating a more flexible supply chain for capital equipment while drastically reducing procurement lead times.”
The company will command the 16th floor at the100 Mill building in Tempe. The company will now have a total of 32,000 square feet at their disposal. The new headquarters also sets the stage for the Moov's plan to increase its headcount by about 300% in 2022. The company says that it will employ more than 150 total employees by the end of this year.
“As the United States and other countries around the world double down on growing their domestic semiconductor manufacturing capabilities, the ability to quickly and cost-effectively source capital equipment to expand existing capacity and equip new fabs is critical,” Steven Zhou says.
As the company points out in the press release, there is a growing urgency hovering the sector, as the shortage of new manufacturing equipment, especially for legacy nodes, is increasingly acute. Lead times on some types of equipment can exceed a year. And Chip shortages are expected to spur a 10% increase in expenditure on semiconductor equipment this year, hitting a record high of USD 98 billion, according SEMI.