Kyma Technologies Exceeds Funding Goal

RESEARCH TRIANGLE, N.C., June 12 -- Kyma Technologies Inc., a supplier of gallium nitride (GaN) substrates for the optoelectronics, communications and microelectronics industries, has obtained $4 million in its Series B round of funding, exceeding its $3 million goal.

Digital Power Capital and Siemens Venture Capital co-led the funding, which was also supported by former Kyma investors. Kyma said the financing will support commercialization, product development and staffing, and that it has already increased its team of materials scientists, added expert advisors to its board and plans to significantly increase staff by the end of 2003. Kyma CEO and President Ed Pupa said the company continues to accelerate development of GaN substrates to optimize quality and reduce defect densities.

Digital Power Capital CEO Hans Kobler has been named to Kyma's board of directors, and Harald Kirchner of Siemens Venture Capital will be a visiting board member.

High-purity GaN substrates allow GaN-based device manufacturers to eliminate processing steps and improve device quality over those grown on other substrates, such as sapphire and silicon carbide.

For more information, visit: www.kymatech.com