TUSK IC Raises €15 Million in Latest Funding Round
TUSK IC, a semiconductor company based in Antwerp, Belgium, has successfully raised €15 million in a recent funding round. The company specializes in simplifying the commercial development of affordable flat panel antennas for satellite communications. This funding round was led by Matterwave Ventures, FORWARD.one, and the Flanders Future Tech Fund, with additional investment from the Schaubroeck family.
Company Background
Founded in 2018 as a spin-off from KU Leuven's mmWave research group, TUSK IC focuses on creating highly integrated millimetre-wave chips and antenna modules. The company aims to lower the barriers for developing cost-effective satellite communication solutions.
Leadership Team
The company is helmed by Kathleen Philips, who serves as the Chief Executive Officer. Shailesh Kulkarni and Wouter Volkaerts, who are co-founders, hold the positions of Chief Technology Officer and Chief Operating Officer, respectively.
Kathleen Philips commented on the funding: "This milestone reflects the expertise and excellence of our entire team, who have turned an ambitious vision into a commercially relevant product platform."
Use of Funds
The newly secured funds are intended to accelerate the transition from prototype chips to high-volume production. This will enable TUSK IC to scale its semiconductor technology more effectively and meet growing market demands.
Investors and Impact
The lead investors in this round were Matterwave Ventures, FORWARD.one, and the Flanders Future Tech Fund. The Schaubroeck family also participated in this funding round. The financial backing will help the company enhance its technological capabilities and expand its market reach.
TUSK IC's focus on semiconductor technology for satellite communication positions it to meet the increasing demand for efficient and cost-effective communication solutions. With this new capital, the company is set to make significant strides in its field.