London-based Flexciton picks up £15M funding in the times of global chip shortage
Modern semiconductor fabs are the most complex manufacturing environments in the world. The production process is generating more scheduling options than there are atoms in the universe. A next-generation chip wafer might go through between 500-2,000 machine steps in a dynamic process. The end-to-end process of making a single chip could take from six months to a year to complete
Eyes to grow its team
London-based Flexciton is an optimisation technology company that has developed a unique solution to radically improve the efficiency and productivity of fab manufacturing processes. In a recent development, the component has announced that it bagged a £15 million Series A investment.
The investment round was led by Nadav Rosenberg of Saras Capital. Other investors include BACKED VC Chalfen Ventures, and Entrepreneur First.
Since its debut, Flexciton has received over £21 million funding, with its recent Series A round. The fresh funds will be used for hiring across the team.
Jamie Potter, co-founder and CEO of Flexciton, said, “Flexciton is able to create an overview of how the entire fab is operating and rapidly sift through the trillions of options available, to come up with the optimal decision at that precise point in time. Using AI-powered mathematical algorithms and Mixed Integer Linear Programming, we can analyse real-time data – not historical – and make the best choices possible based on what is happening in a fab at a given moment. Our vision is to become the best in the world at running semiconductor fabs, before turning our attention to support other manufacturers. This investment plays a key part in achieving this, as we expand our team.”
Nadav Rosenberg, an investor who has supported the team since their early days and led the current Series A round, added, “Semiconductors are the fundamental building blocks of modern life. More than any other development of the scientific age, they have completely revolutionised the way that we work, play, communicate and learn. Demand will keep growing, and the industry must consider how to better utilise its current assets, before expanding and using further resources to meet demand. Efficiency is key. Flexciton is the first company to successfully apply this level of machine intelligence to real-world manufacturing, with hugely impressive results.”
Mike Chalfen, Chalfen Ventures, commented, “In a globally strategic industry, with billions in capex and opex spent on the world’s most complex manufacturing operations, Flexciton measurably saves enormous costs, fast. Its insight can change the very capacity, agility and economics of the semiconductor industry. Flexciton has the team, technology and ambition to be an enduring and important company.”
Optimises production of fabs
Flexciton was founded in 2016 by Jamie Potter and Dennis Xenos. Its solution analyses the real-time data that each fab generates and applies cutting edge technology to decide which actions need to be taken to optimise production.
The team has since grown to 41 and has experts in mathematics, semiconductor scheduling, AI, optimisation, data science and software development.
Flexciton has been proven to drive efficiency gains of 10 percent by using advanced AI technology in real-time to optimise production – a 10 percent efficiency gain per 1,000 machines can save a factory tens of millions of dollars annually.