Tech company receives £660,000 funding to develop “next generation” microchips
A Midlands materials technology company has raised £200,000 of funding from Mercia Fund Managers and a syndicate of US angels to help it develop the next generation of microchips.
This is in addition to Irresistible Materials’ winning a £460,000 grant from Innovate UK to develop new photo-resist material, to create smaller, lighter silicon chips.
Founded in 2010 after forming at the University of Birmingham, Irresistible Materials first received backing from Mercia in 2013. This latest funding, it says, will support the ongoing development and commercialisation of photo-resist.
Mark Volanthen, head of electronics, materials, manufacturing & engineering at Mercia, said: “As consumers demand ever smaller and faster devices, the semiconductor industry is constantly seeking ways to reduce microchip sizes.
“Irresistible Materials’ products which consist of patented small molecules help chip manufacturers to meet these demands. With this latest investment and grant funding, the company is on target to bring new products to the market in time for the introduction of next-generation chips in 2019.”