Belgian semiconductor and AI technology expert Magics Technologies has announced the closing of a new round of investment. At closing, the Geel-based startup pulled in 2.4 million euros to accelerate its growth ambitions, as it aims to become a market leader in the field of smart semiconductor chips. The funding round was led by the private investment fund Invest for Jobs, with additional support coming from the Gemma Frisius Fund and the KU Leuven.
Launching in 2015, Magics has leveraged its unique radiation hardening IC design competence to build a first series of chips that provides digital control of robotics and manipulators in the world’s most extreme environments. The purpose of this capital round is to consolidate commercial opportunities for the company’s chipsets for automation platforms in challenging environments, specifically in fusion, nuclear and space, while at the same time enabling the launch of its cross-industry scalable intelligent sensing platform for improved machine reliability (Plantscope).
“Over time, Magics has evolved into a full-blown semiconductor company serving niche markets. At the same time, we’ve developed intelligent sensing technologies with much wider market potential,” says CEO Jens Verbeeck. “This ‘technology leveraging’ is generating exciting opportunities as we speak, and the new investment round gives us the capacity to fully pursue these opportunities.”