VANAM, a South Korea-based semiconductor materials and components startup, announced today that it has secured a seed funding of KRW 700 million. Schmidt and Korea University Technology Holding Company participated in the round.

Founded in January last year by a group of overseas semiconductor doctors, patent attorneys specializing in semiconductor intellectual property (IP), and facility construction experts, VANAM has secured original technology and core IP related to semiconductor thin films. 

As its first project, VANAM aims to commercialize the world’s first thin-film semiconductor for key components in circuits that protect electronics and batteries.

The company plans to use the funding to hire talent and build a microfoundry facility. The company will initially hire semiconductor experts in various fields, including thin film processing, analysis, design, and post-processing. In addition, VANAM is currently building a microfoundry in downtown Seoul to manufacture semiconductor thin-film materials, which is characterized by minimizing the factory site by using eco-friendly process technology and small-scale deposition equipment.

“We are pleased to have successfully secured seed funding,” said Han Soo-duk, CEO of VANAM. “We will quickly grow into a new type of urban semiconductor manufacturing startup by securing semiconductor talent.”

Meanwhile, VANAM established a company-affiliated research center in January and has applied for five patents related to semiconductor thin film materials and components to date.