Deals

Crossing Automation raises $6 million for wafer-handling tool business

Crossing Automation has raised $6 million in a first round of capital to expand its wafer-automation equipment business for chip factories.

The Mountain View, Calif.-based company makes automated wafer-transfer systems. Backers include Intel Capital and Tallwood Venture Capital.

Crossing Automation was founded in 2003 to build a system that can handle large silicon wafers and move them from one piece of equipment to another inside a chip factory. The company argues that its system can save $24 million a year in comparison to past systems.

Jed Keller, CEO, says that the company’s goal is to hit $20 million in revenues by 2010. To date, the company’s tool is available in a beta-test version and the launch is expected in July. The company has a dozen employees and it plans to outsource the manufacturing of its product.