German Chip Firm Secures $274M Amid Europe's Semiconductor Push

17 Jun, 2024

German Chip Firm Secures $274M Amid Europe's Semiconductor Push

Black Semiconductor, a startup specializing in advanced chip technology, has successfully raised €254.4 million (US$274 million) to further its semiconductor innovations. The majority of this funding, €228.7 million (US$248 million), was provided by the German Ministry of Economic Affairs and the state of North Rhine-Westphalia, with the remaining €25.7 million (US$28 million) coming from Porsche Ventures and Project A.

The capital will be used to establish a pilot production facility in Aachen, Germany, targeting mass production by 2031. Additionally, Black Semiconductor plans to increase its workforce from 30 to 120 employees by 2026. This significant investment underscores Europe’s efforts to strengthen its semiconductor industry and reduce reliance on external suppliers, positioning itself to compete with major global players.

Black Semiconductor aims to revolutionize chip communication by using graphene to facilitate data transmission through light rather than electricity, thereby improving efficiency and speed. CEO Daniel Schall highlighted Europe’s expertise in design within the semiconductor supply chain, aiming to make the region a key player in the global market. This initiative is part of Europe's broader strategy to enhance its technological sovereignty and innovation in crucial sectors.