Akhan Semi attracts funds to boost production
Akhan Semiconductor has just completed a USD 20 million in a funding round. The company plans to use the capital to accelerate its diamond technologies to market.
Akhan Semiconductor, a technology company which specialises in lab-grown electronics-grade diamond materials, has raised USD 20 million of committed capital led by financial partners. In addition to the funding round, the company also announced the hiring of Craig Mitchell as CEO and John Thode as COO/President.
“I’m thrilled to be joining the AKHAN team at this moment,” says Mr. Mitchell, formerly the President of Invensas and General Manager of the Semiconductor IP Business at Xperi, in a press release. “I’ve been very impressed by AKHAN’s Miraj Diamond technology and the substantial value it immediately brings to huge, important markets. I know through firsthand experience developing and licensing technologies over 30 years that this type of game-changing technology is rare and very special. I look forward to working with the AKHAN team, our partners and customers to scale and broadly commercialize this technology around the world.”
With a focus on diamond display glass for use in consumer, automotive, defense, and industrial applications, Mitchell and Thode will oversee AKHAN’s strategic growth and capital investments. The Gurnee, Illinois facility, dubbed “Diamond Mine 1,” will be expanded to enhance AKHAN’s development and manufacturing capabilities to bring commercial products to market, the press release continues..
“My career has been focused on innovation and entrepreneurship, bringing multiple disruptive technologies to market,” says John Thode. “America’s Midwest is quickly becoming the fastest growing entrepreneurial ecosystem in the country. For years, our institutions have been fueling Silicon Valley growth and now we, the Midwest and AKHAN specifically, are offering significant opportunities for the world’s best trained engineers to stay in the Midwest. The AKHAN team is a premier example of Midwest hi-tech capability. I’m looking forward to leveraging my experiences to support the team to accomplish AKHAN’s big goals.”