Substrate

Substrate has developed a new form of advanced X-ray lithography that utilizes particle accelerators. This technology is designed to produce the microscopic circuitry on silicon wafers, a critical process in chip manufacturing. The company claims its proprietary particle accelerator can reduce the cost of this process by half compared to existing methods. Substrate has demonstrated its technology at U.S. National Laboratories and its own facilities, with the goal of producing its first chips by 2028. The business model aims to reduce the cost of leading-edge silicon wafers significantly. Its target market includes the advanced AI and robotics industries, which require an increasing supply of advanced chips.

The startup has secured over $100 million in a funding round, achieving a valuation of over $1 billion. Investors include Peter Thiel's Founders Fund, General Catalyst, Allen & Co, Long Journey Ventures, Valor Equity Partners, and In-Q-Tel, a CIA-backed nonprofit. This investment highlights growing interest in revitalizing the U.S. semiconductor sector amid geopolitical and supply chain risks. The company's team includes scientists and engineers from U.S. national research labs and major tech companies.