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Tusk IC raises €15 million in funding to democratize satellite communications

Belgium-based fabless semiconductor company Tusk IC, a spin-out of KU Leuven’s Micas Group and developer of CMOS ICs for the automotive, industrial and SatCom segments, has announced the successful closing of its Series A funding round. This funding accelerates the commercialization of the world’s first Standard CMOS-based Beamformer ICs for Ka-band SatCom.

Tusk’s Beamformers are a key building block of Flat Panel Antennas (FPAs), and enable a lower-cost, lower-power alternative to the SiGe and Specialty CMOS technologies used in SatCom user terminals today. Ka-band communication enables fast, high-capacity SatCom data links. In combination with mainstream CMOS semiconductor technology, the Tusk IC solution brings scalable connectivity to the next generation of Leo and Meo (Low & Medium Earth Orbit) satellite constellations.

The investment round is led by Matterwave Ventures, Forward.one, and Flanders Future Tech Fund, managed by PMV, with participation from the Schaubroeck family and continued support from the current investors. Together they underscore strong confidence from experienced investors with a proven track record in SatCom and semiconductor ventures.

Earlier this year, Tusk IC announced the award of a new contract from the European Space Agency (ESA), with the support of Belspo. The contract is funded under the Industrial Competitiveness line within ESA’s Advanced Research in Telecommunications Systems (Artes) programme.

With €15 million in funding, Tusk IC is well-capitalized to execute its growth strategy and accelerate the commercialization of its SatCom technology. Tusk IC is working with a leading satcom manufacturer to integrate its technology into the development of a new Electronically Steered Array antenna.

“The future of connectivity will be determined not only by the constellations in orbit, but also by the technologies that make high-performance user terminals scalable and affordable on the ground”, comments Silviu Apostu, Partner at Matterwave Ventures. “Tusk IC combines leading-edge mmWave innovation with the economics and scalability of standard CMOS, addressing a critical bottleneck in satellite communications. We believe this positions the company to underpin a more diverse and resilient space-based communications infrastructure.”

Arjan Göbel, General Partner at Forward.one, adds: “By bringing the economic and manufacturing advantages of CMOS to satellite communications, Tusk IC is democratizing high-performance connectivity from space. Its unique combination of breakthrough semiconductor technology and a scalable manufacturing approach positions the company to play an important role in the rapidly expanding global satellite communications market.”

“Flanders has built a strong ecosystem at the intersection of semiconductors and space technology, with ambition to create companies that can compete on a global scale”, says Vincent Hebbelynck, Head of Tech VC at PMV, managing FFTF. “Tusk IC is a strong example of how these capabilities translate into innovation with international potential. Supporting companies like Tusk IC as they move towards industrial scale is exactly what the Flanders Future Tech Fund was created for.”

Kathleen Philips, CEO of Tusk IC, concludes: “This investment is a strong endorsement of both our technology and our team. It will accelerate the transition from prototype chips to high-volume production. We are grateful for the trust our investors have placed in us and for the confidence our customers and partners continue to show.”

Pictured (left to right): The Tusk IC Leadership Team - Paul Muller, VP Business Development; Kathleen Philips, CEO; Shailesh Kulkarni, Co-Founder & CTO; Wouter Volkaerts, Co-Founder & COO. (Photo: Tusk IC)

www.tusk-ic.com

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