Shocking Technologies, an embedded ESD solutions company, announces today they raised an additional $5.2 million in its B-1 round completing the round at $13.2 million.
The money will be used to speed the build out of manufacturing in the next several months as well as to continue to build our world class team.
"We are seeing increasing interest in our embedded ESD solutions from multiple top tier companies and in products from cell phones, portable electronics, memory devices and semiconductors it has become evident we need to scale faster to meet the demand. Our investors have been both enthusiastic and supportive of the need to grow faster and support our customers due to the successes in our initial trials. Shocking will increase our staff 33% over the next several months and over 50% for the year, we are lucky there are many talented people in the valley looking for a high growth opportunity at this time," said Lex Kosowsky, President and CEO.
Last week our partner Viking Modular Solutions, a division of Sanmina-SCI, brought Shocking's first product to market, a CF card that can achieve 30KV protection. We are expecting further announcements in memory devices, cell phones, portable electronics and semiconductors later this year. Shocking is proud to not only provide our customers with an alternative ESD technology that saves time to market, space and cost but to provide a total solution to the problem.
Shocking Technologies, Inc. is a privately held, venture-backed company developing Voltage Switchable Dielectric™ (VSD™) materials. A VSD™ material is a polymer nano-composite that behaves like an insulator (dielectric) during normal circuit operation and becomes conductive when the voltage across the VSD™ material increases beyond a predefined threshold voltage. After the voltage drops below the threshold again, it switches back to an insulator. This unique property, coupled with the ability to tailor the response of the material, opens up several new areas in electronics.