Shocking Technologies Raises Additional $10.5M From Circuit Protection Leader Littelfuse
Innovative ESD Solution Gains Momentum in High-Growth Consumer Markets
San Jose, CA (Marketwire) - Shocking Technologies, Inc., the developer of the Voltage Switchable Dielectric™ (VSD™) material, a breakthrough patented polymer nano-composite for protecting electronic products from electrostatic discharge (ESD), today announced it has raised $10.5 million. The lead investor is Littelfuse, Inc. (NASDAQ: LFUS), which had also participated in a prior strategic investment round last year. To date, Shocking Technologies has raised over $60 million in investment capital, and will use the latest funding to drive and meet global demand for its innovative VSD solution.
Shocking Technologies' XStatic™ material is a polymer nano-composite that functions substantially as an insulator (dielectric) during normal circuit operation and becomes substantially conductive when the voltage increases beyond a predefined threshold. The XStatic material reverts back to behaving substantially as an insulator after the voltage drops back below the threshold to normal operating levels. The net result is that when the XStatic material is incorporated in a PCB or package substrate, damaging ESD voltages and currents can be routed to ground or to other predetermined locations so that elements, circuits, components and devices can be effectively protected against ESD events. The XStatic material comes with the accompanying software analysis tools.
"We continue to be very pleased with the results OEMs and PCB manufacturers are seeing with this product," said Gordon Hunter, Chief Executive Officer of Littelfuse. "We believe that the XStatic material is a potentially disruptive technology that provides some very interesting opportunities for the future of circuit protection and addressing the ESD challenge most electronics companies face."
"The company has made great strides in making our ESD solution a predictable and reliable way to offer better ESD protection faster and cheaper, making it ideal for a broad range of consumer applications and sub systems. Through the combination of the unique properties of our VSD material and our robust suite of design and analysis tools, customers are seeing the benefits we can bring from both the standpoint of reduced time-to-market and bill-of-materials," said Lex Kosowsky, President and CEO of Shocking Technologies. "We are pleased with the confidence Littelfuse, as an industry leader in this area, continues to have in us and we value their ongoing input into the strategy of the company."
About Shocking Technologies
Founded in 2006, Shocking Technologies offers an innovative solution to protecting electronic products in the handheld, cell phone, LCD display, memory and other markets from the harmful effects of electrostatic discharge (ESD). Its patented Voltage Switchable Dielectric™ (VSD) polymer nano-composite material, XStatic™, can be applied to PCB and package substrates, and coupled with Shocking's advanced design and simulation technologies provides the industry's only embedded solution capable of up to 100% protection against ESD. The ease of implementation and comprehensive coverage of the XStatic solution also lowers development time and costs and reduces product design size by eliminating less effective components traditionally used to protect devices against ESD effects. The company has more than 180 patents and applications worldwide and has licensed numerous additional licensed patents and applications. Shocking Technologies is a privately held company with investments from ARCH Venture Partners, ATA Ventures, Skylake Incuvest, Vista Ventures, Balch Hill Capital, Littelfuse, Inc., and a limited number of private investors. For more information, go to www.shockingtechnologies.com
Founded in 1927, Littelfuse, Inc., the worldwide leader in circuit protection, offers the industry's broadest and deepest portfolio of circuit protection products and solutions. Littelfuse devices protect products in virtually every market that uses electrical energy, from consumer electronics to automobiles to industrial equipment. In addition to its Chicago, Illinois world headquarters, Littelfuse has more than 30 sales, distribution, manufacturing and engineering facilities in the Americas, Europe and Asia. Technologies offered by Littelfuse include Fuses; Gas Discharge Tubes (GDTs); Positive Temperature Coefficient Devices (PTCs);Protection Relays; PulseGuard® ESD Suppressors; SIDACtor® Devices; TVS Diode Arrays (SPA™ Family of Products); Switching Thyristors; TVS Diodes and Varistors. The company also offers a comprehensive line of highly reliable Electromechanical and Electronic Switch and Control Devices for commercial and specialty vehicles, as well as underground Power Distribution Centers for safe control and distribution of electricity in mining operations. For more information, please visit Littelfuse's Web site at littelfuse.com.
Voltage Switchable Dielectric™, XStatic™, and the Shocking Technologies™ name and logo are trademarks of Shocking Technologies, Inc. All other trademarks referred to are property of their respective owners.
SOURCE: Shocking Technologies, Inc.