Boréas Announces US $12M in Series B Funding and Expands Management Team
BROMONT, Québec — November 16, 2023 — Boréas Technologies, the pioneer in haptic semiconductor platforms, today announced the closing of a US$12M Series B financing round. Boréas will use the capital to accelerate the high-volume production of its ultra-low-power piezo haptic semiconductors in mobile, PC and automotive applications.
This financing round is the culmination of a strong 2023, which saw the company secure major design wins with global brands in all three target segments and increase revenue by almost 300% year over year. Boréas is targeting a lucrative market for emerging haptic technologies, which IDTechEx predicts will reach $3.5B by 2033.
“Boréas Technologies has proven its ability to deliver localized haptic effects and force sensing in a small, ultra-power-efficient form factor suited to multiple markets,” said Simon Chaput, founder & CEO, Boréas Technologies. “This infusion of capital will help catapult our company to the next level, ensuring that we can meet the high-volume demand for our chips in smartphones, PC trackpads and automotive cockpits.”
Boréas’ flagship technology—its CapDrive® piezo drivers—enable crisp, localized haptic feedback as well as integrated force sensing in applications such as smartphones, where customized and highly responsive solid-state buttons are replacing legacy mechanical buttons, significantly enriching the user experience. In addition to their remarkable performance, Boréas CapDrive piezo drivers provide the unique energy-recovery capability to enable a 10x power savings over competing piezo driver products in a footprint that is 4x smaller—satisfying the stringent power/size demands of small, battery-powered devices.
Boréas also announced two new members of its executive team: Todd Whitaker, vice president of products and strategy; and Hans Tian, vice president of sales.
Whitaker is a seasoned general manager and marketing executive who previously led the global marketing function for two multibillion-dollar semiconductor companies. He will integrate strategy, product management, sales and marketing to drive Boréas’ business growth. Drawing from more than two decades in semiconductors and sensors, Tian is the former vice president of sales at TDK InvenSense China and held a leadership role in sales at Knowles.
“Todd Whitaker and Hans Tian have built their careers working at some of the most influential companies in the microelectronics industry,” said Chaput. “I’m thrilled that Boréas is now the beneficiary of their business acumen and technology expertise, and I welcome them to our executive team.”
For More Information
For more information on Boréas Technologies, visit https://www.boreas.ca, or contact us by email: info@boreas.ca. Or, if you’re attending 2024 International CES (January 9-12, 2024, Las Vegas, Nev.), please schedule a private meeting at Boréas’ suite.
About Boréas Technologies
Boréas Technologies Inc. is an award-winning fabless semiconductor company commercializing ultra-low-power piezo IC platforms in consumer and industrial markets. With origins in research conducted at Harvard University, Boréas is based in Bromont, Québec and is supported by a global distribution network. The company’s CapDrive ICs are ideal for resource-constrained devices such as PC trackpads, smartwatches and fitness trackers, smartphones and gaming phones, VR game controllers and peripherals, and Internet of Things (IoT) devices.
The Boréas logo and CapDrive are registered trademarks of Boréas Technologies Inc. All other product and company names are trademarks or registered trademarks of their respective holders.
Press Contacts
Marc-André Morin, Boréas Technologies
Email: mamorin[at]boreas.ca
Maria Vetrano, Vetrano Communications
Email: maria[at]vetrano.com