Nexstrom raises $12 million seed round to commercialize the first 12-inch single-crystal 2D semiconductor platform. Sep 22, 2026, 10:00 ET The funding enables the next generation of AI and high-performance computing chips beyond the limit of silicon, while accelerating the industry's first 12-inch single-crystal 2D semiconductor platform SINGAPORE, Sept. 22, 2026 /PRNewswire/ - Nexstrom, the semiconductor company building the first wafer-scale platform for 2D semiconductor materials, today announced it has raised a $12 million seed round led by Xora Innovation, with participation from Foothill Ventures and SEEDS. The round brings Nexstrom's total capital raised to $15 million, including $3 million in non-dilutive funds. The funding will accelerate commercialization of Nexstrom's wafer-scale 2D semiconductor platform, driving toward the industry's first 12-inch 2D wafer growth on production-ready manufacturing tools. The Singapore-based company is also working closely with prominent industry partners to validate its technology within existing chip manufacturing workflows, positioning Nexstrom to bring next-generation semiconductor materials into large-scale commercial production. As AI workloads drive demand for faster, more energy-efficient computing, the semiconductor industry is approaching the physical limits of silicon. There is a hard ceiling to how much silicon channels can continue to shrink before electrons begin leaking, causing significant power loss. Nexstrom aims to bypass this bottleneck by developing the industry's first platform for growing 12-inch single-crystal 2D semiconductor materials. These atomically thin materials support precise electron control, reduce energy loss at the transistor level, and improve efficiency, while remaining compatible with advanced foundry manufacturing. Nexstrom is developing the commercial-scale platform advanced foundries need for next-generation computing. "Silicon has fueled decades of computing innovation, but the industry now needs a new materials platform to continue scaling performance," said Dr. Lance Li, Co-Founder and Chief Scientist. "For years, the challenge has not been demonstrating the promise of 2D materials, but manufacturing them at the scale and quality advanced foundries require." Nexstrom was incubated through Xora's venture-building model to bridge the gap between academic research and commercial semiconductor manufacturing. Through this model, Nexstrom developed a practical path to manufacturing wafer-scale single-crystal 2D semiconductors, allowing chipmakers to move beyond the limitations of conventional materials and build the next generation of AI infrastructure. Unlike existing methods that yield only small laboratory samples or require changes to existing foundry manufacturing processes, Nexstrom's full-stack platform integrates proprietary chemical vapor deposition (CVD) hardware, process technology, and wafer-scale 2D material growth right into a foundry's existing workflow. By combining advanced equipment, specialized chemistry, and manufacturing expertise, Nexstrom's technology promises continuous, single-crystal 2D material growth across industry-standard 12-inch wafers, providing a clear path to commercial adoption. Nexstrom's technical foundation is anchored by Dr. Lance Li, a globally recognized leader in 2D materials and a Clarivate Highly Cited Researcher since 2018, a distinction recognizing roughly the top 0.1% of researchers worldwide by research influence. A pioneer in single-crystal MoS[2] (molybdenum disulfide) growth since 2012, he later led corporate research at TSMC on post-silicon electronics, bringing decades of expertise across 2D materials, atomic-layer chemistry, and semiconductor manufacturing to Nexstrom. Nexstrom is also supported by a board and advisory group that includes semiconductor industry leaders Dr. Sundar Ramamurthy, Dr. Philip Wong, Dr. Aaron Thean and Dr. John Langan. "The question is no longer whether 2D semiconductors matter. They are already on the technology roadmap of major semiconductor companies. The challenge is making them manufacturable," said Dr. Philip Wong, Board Advisor at Nexstrom and Inez Kerr Bell Professor at Stanford University. "The industry needs high-quality, uniform 2D materials on 300 mm substrates, and solving that materials bottleneck is exactly where Nexstrom is focused." By enabling wafer-scale 2D semiconductors compatible with advanced manufacturing, Nexstrom is laying the foundation for the post-silicon era of computing. The new funding will support ongoing platform development, strategic collaborations with semiconductor foundries, and the expansion of Nexstrom's engineering and leadership teams as the company advances high-performance, low-power chips for AI, data centers, and future computing applications. About Nexstrom Founded in 2024, Nexstrom is a semiconductor technology company advancing wafer-scale 2D materials for next-generation AI and high-performance computing. The company has developed the industry's first platform for producing 12-inch single-crystal 2D semiconductors, allowing chipmakers to overcome silicon's limitations and create faster, more energy-efficient devices. Backed by Xora Innovation, Foothill Ventures, and SEEDS, an arm of SG Growth Capital, Nexstrom is helping bring 2D semiconductor technology from the lab to commercial manufacturing. SOURCE Nexstrom

Foothill Ventures named to TIME's America's Top Venture Capital Firms list for second consecutive year. Aug 25, 2026, 06:00 ET Los Altos, California-based firm recognized in TIME and Statista's 2026 ranking, following its inclusion in the award's inaugural 2025 list LOS ALTOS, Calif., Aug. 25, 2026 /PRNewswire/ - Foothill Ventures, a Los Altos, California-based venture capital firm focused on early-stage technology investments, today announced it has been named to TIME's America's Top Venture Capital Firms list for 2026. This marks the second consecutive year Foothill Ventures has earned the distinction, following its inclusion in the list's inaugural 2025 edition. The annual ranking, produced by TIME in partnership with Statista, evaluates the nation's leading venture capital firms using a weighted methodology that accounts for fundraising, investment activity, performance, and leadership. Founded in 2017, Foothill Ventures backs technical founders building breakthrough companies, working alongside them from seed stage onward. Its current investment focus spans agentic AI, physical AI, and compute infrastructure, with more than 160 portfolio companies across three funds to date. "This recognition reflects the extraordinary founders we're lucky to back, the conviction our limited partners bring to every fund, and the relentless work our team puts in behind every deal," said Jinlin Wang, Managing Partner of Foothill Ventures. "We're grateful to TIME and Statista, and even more energized to keep backing the founders building the next generation of technology companies." About Foothill Ventures Foothill Ventures is a Los Altos, California-based venture capital firm founded in 2017 that invests in early-stage, technical founders. For more information, visit https://www.foothill.ventures. SOURCE Foothill Ventures

Quintessent has raised $40 million in an oversubscribed Series A funding round led by Cycle Capital, with participation from Goldman Sachs XIG-Industry Ventures, Hina Liberty Capital, Susquehanna International Group, and others. The Santa Barbara-based company is developing optical interconnect products for AI datacentres. Quintessent has begun customer sampling of its single-chip quantum dot-based DWDM comb laser, which generates eight wavelengths from a single laser with one bias control. The technology aims to simplify optical connectivity for AI clusters whilst reducing power consumption and manufacturing complexity. The company's laser architecture uses Gallium Arsenide quantum dot gain material integrated on silicon photonics, avoiding capacity constraints in the Indium Phosphide supply chain. Quintessent claims the design can deliver up to 40% reduction in data movement power compared to alternative architectures. The funding will support product maturation, manufacturing scale-up, and development of additional optical components for AI infrastructure applications.