Business & Tech

Round Rock Semiconductor Company Raises $3.5 Million from Chicago Company

The funds will be put towards research and development.

ROUND ROCK, TX - Round Rock’s Monolith Semiconductor Inc. reportedly raised $3.5 million in funding from a Chicago company.

The 10-employee semiconductor company collected capital from Littelfuse Inc., which supplies circuit protection products, the Austin Business Journal reported.

The exchange was noted in a filing with the U.S. Securities and Exchange Commission that was submitted Tuesday.

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CEO Sujit Banerjee told the Austin Business Journal the company will use the money research and development leading up to the release of their product in late 2016.

The company recently announced their strategy to work on power semiconductors for industrial and automotive markets.

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