xLight, an American company specializing in advanced laser technology, has secured $40 million in an oversubscribed Series B funding round, led by Playground Global with support from Boardman Bay Capital Management and Morpheus Ventures.
This funding will help xLight develop extreme-ultraviolet (EUV) free-electron lasers (FELs) to transform semiconductor manufacturing and enhance national security. The company has partnered with key research institutions, including CLASSE, Los Alamos National Laboratory, and Fermilab, to advance technologies.
Collaborations include commercializing technologies from Cornell’s BNL ERL Test Accelerator, automating large-scale accelerators using machine learning, and developing superconducting radio frequency cavities and cryomodules to improve particle accelerator technology.
KEY QUOTES:
“xLight is on a mission to build a transformational new light source for semiconductor manufacturing that addresses the key challenges facing the industry today – cost, capabilities, and capacity. This round will equip the company with the capital needed to complete detailed design and kickstart construction of our full-scale prototype.** Advanced semiconductor manufacturing is approaching a key inflection point – together with our partners across the National Lab and semiconductor ecosystem, and with the support of our investors, we will commercialize free electron lasers and help reclaim American leadership in semiconductor manufacturing.”
Nicholas Kelez, CEO and CTO of xLight
“xLight represents a once-in-a-generation opportunity to restore American leadership in one of the most critical technologies underpinning the semiconductor industry.** By delivering an energy‑efficient EUV laser with tenfold improvements over existing technologies, xLight has the potential to drive the next era of Moore’s Law – keeping chip scaling alive, accelerating fab productivity, and anchoring this foundational capability in the U.S. supply chain.”
Pat Gelsinger, Executive Chairman of the Board, xLight and General Partner, Playground Global
“xLight’s breakthrough technology delivers a real edge for next-generation semiconductor manufacturing.** With AI driving unprecedented demand for more powerful and complex chips, the industry needs a step change in productivity. By applying proven accelerator physics in a novel way, xLight’s EUV FEL platform has the potential to enable not just more efficient production, but entirely new kinds of devices. It’s a bold leap forward, and one that will help reignite Moore’s Law.”
Peter Barrett, General Partner and co-founder at Playground Global
“We believe the semiconductor manufacturing industry is on the precipice of the next major dislocation and xLight is perfectly positioned to capitalize on that shift.** The company’s platform has the potential to reshape how fabs think about light, manufacturing capabilities, and scalability. We’re proud to partner with a team pushing the boundaries of what’s possible in advanced laser light sources.”
Will Graves, Chief Investment Officer, Boardman Bay Capital Management
“xLight represents exactly the kind of transformative technology we seek at Morpheus Ventures—a company that’s not just disrupting its market, but fundamentally redefining what’s possible.** The company’s deeply experienced team, coupled with the incredible technology they’ve developed under Nicholas’ leadership, uniquely position the company for hypergrowth in the years to come, and we’re thrilled to be one of their partners.”
Howard Ko, Partner, Morpheus Ventures
