CM Venture Capital has completed investment in Silicon Valley based Averatek Inc. Averatek Corporation was founded by SRI International, a globally-known contract research and development institution spun out of Stanford University.
Averatek Corporation develops and licenses advanced manufacturing processes for a variety of electronic products including: very high density printed circuit boards, semiconductor packaging and RF and millimeter wave passive components. In addition, Averatek develops and sells the key chemistry that enables these advanced manufacturing processes.
Dr. Min Zhou, Managing Partner of CM Venture Capital commented: “All new materials technologies go thorough painful, and often times long, searches for sweet spot of technology-market fit. After following Averatek since its founding, we believe Averarek’s A-SAPTM technology has found its sweet spot after many years of exploration. Averatek will benefit tremendously from rapid growth of ever-more-demanding high-end electronics in communication, in 5G, in healthcare and in semiconductor. With multiple licensees qualified and ready to ship products, the company is well-positioned for scaling up the supply of its technology. CM Venture Capital is pleased to invest in the company to enable the roll-out of technology to more licensees globally”.
Haris Basit, CEO of Averatek commented: “We are delighted to have CM Ventures as an investor in Averatek. Dr. Min Zhou and Dr. Patrick Berbon of CM Ventures have deep expertise and connections in advanced materials and manufacturing businesses across three continents. We look forward to working with them to ensure Averatek’s success."
Manish Kothari, President, SRI International commented: "As the source for the foundational technology and a major shareholder, SRI International has worked closely with Averatek management and technical personnel over the past few years. We are pleased to see the progress towards commercialization that Averatek has made during that time. We are delighted to welcome CM Ventures to the investor ranks at this opportune time and believe that their long-term and intensive focus on advanced manufacturing businesses will provide lasting benefit to the company.”