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[Alpha Biz= Kim Jisun] SK Square is investing $40 million (approximately 55 billion KRW) in a U.S.-based semiconductor materials company, aiming to create synergies with its affiliate, SK Hynix.According to industry sources on May 28, SK Square has decided to invest $40 million in NuMat Technologies, a U.S. startup, through its overseas investment arm, TGC Square. The investment is part of an extension round to NuMat’s previous Series C funding and was made at the same company valuation as the initial round.NuMat Technologies develops specialty gas storage systems used in semiconductor manufacturing by leveraging metal-organic frameworks (MOFs)—materials with a porous structure. SK Square believes NuMat’s technology, which is particularly useful in safely handling toxic gases during manufacturing processes, holds significant potential for synergy with SK Hynix.

SK Square, the investment arm of South Korea's SK Group, has invested in Numat Technologies, a US-based MOF developer, during its $40 million Series C extension round. This investment aims to create synergy with SK Hynix, particularly benefiting its high-bandwidth memory chip production. Numat's ION-X platform, used in semiconductor manufacturing, is already employed by Merck. SK Square plans further investments in semiconductor and AI-related companies, holding over 1 trillion won ($728 million) in cash.