Reno Sub-Systems secures US $11.2M Series C led by Samsung Ventures

Reno Sub-Systems has closed a US $11.2 million Series C round of financing led by new investor, Samsung Venture Investment Corporation with participation of new investors, Hitachi High-Technologies Corporation, SK hynix, and existing investors, Intel Capital, Lam Research and MKS Instruments.

Reno Sub-Systems closed a US $14 million Series B in June 2016 from Intel Capital, MKS Instruments, Innovacorp, Xipu Hanxin Electronic. Intel Capital led US $7.5 million Series A in 2014 and joined by Innovacorp. Innovacorp’s investment was made in Reno Sub-Systems Canada.

Sparks, Nevada based Reno Sub-Systems is a developer of high-performance radio frequency (RF) matching networks, RF power generators and gas flow management systems for semiconductor manufacturing.

“Our list of strategic investors now includes the venture arms of three of the top five largest semiconductor manufacturers, two out of four of the largest etch tool providers, and a key subsystems supplier,” said Bob MacKnight, CEO of Reno Sub-Systems. “Our holistic approach to precision subsystem process control across RF as well as flow technologies offers clear differentiation from competitive approaches. Our new investors are motivated to participate to secure access to our innovative technologies, to enhance their manufacturing operations or product offerings.”

“We saw high value in Reno’s technology, so it only made sense for us to pursue an investment,” said Dr. Dong-Su Kim, vice president of Samsung Venture Investment Corp.

“The new capabilities that Reno’s subsystems provide will add to our competitive strengths,” said Craig Kerkove, president & CEO of Hitachi High-Technologies America.

“Greater precision and repeatability of processing are key to future device geometries,” said Heejin Chung, head of SK hynix’s Venture Investment. “Reno’s subsystems can help us achieve that.”

The additional funding will support continued development of the technology to enable leading-edge silicon manufacturing technology nodes in high-volume production. “The C-round will allow us to support our rapidly growing number of deployments and enable high-volume manufacturing of our systems to support our recent platform wins,” said MacKnight.

photo credit: Reno Sub-Systems