Elodie Collins
Phoenix Semiconductor raised $5.5 million in its recent seed funding round. The Texas-headquartered semiconductor firm said Tuesday that J2 Ventures, RTX Ventures, IronGate Capital Advisors and Lockheed Martin Ventures participated in the funding round.
What Phoenix Semiconductor Offers
Phoenix is tackling the challenge of microelectronics obsolescence by recreating legacy chips that are still in use in critical equipment across industries. The firm also attempts to address microelectronics shortage, which can be disruptive to nearly all sectors of the American economy.
“Phoenix is tackling one of the most entrenched and urgent challenges in the microelectronics sector — the shortage of domestically manufactured legacy chips critical to our national security and industrial base,” commented Dan Ateya, president and managing director of RTX Ventures. “There is tremendous demand across the aerospace and defense industries for trusted, U.S.-made components that can seamlessly replace aging technology.”
Phoenix Introduces Inaugural Board of Directors
The firm also announced the formation of its board of directors, which includes its CEO, Ryan Hatcher. Jonathan Bronson, managing partner at J2 Ventures, and Didier Thibaud, former executive vice president and chief operating officer of Mercury Systems, will also serve as inaugural members of the board.
“Having worked in this industry for over 30 years, I have first-hand knowledge of the scope of the problem Phoenix is solving and I hope to support their mission through meaningful expertise and strategic partnership,” Thibaud said.
