AKHAN scales, advances its Miraj diamond technology
Chicago semi player attracts Series A funding for chip use in smartphones and consumer products
AKHAN, a technology company specializing in lab-grown electronics-grade diamond materials announced the closing of a $20-million capital raise with financial partners including long-standing investors and significant family offices.
In addition to the funding round, AKHAN also announced the hiring of Craig Mitchell CEO and John Thode as COO/president. With decades of leadership experience in technology and supply chain development, manufacturing operations and intellectual property licensing, both executives will be essential to AKHAN as it brings its Miraj Diamond Technology to market.
“I’m thrilled to be joining the AKHAN team at this moment”, said Mitchell, formerly the president of Invensas and general manager of the semiconductor IP business at Xperi, a leading consumer and entertainment solutions licensing company. “I’ve been very impressed by AKHAN’s Miraj Diamond technology and the substantial value it immediately brings to huge, important markets, as well as the advanced state of engagements with premier customers. I know through firsthand experience developing and licensing technologies over 30 years that this type of game-changing technology is rare and very special.”
With a focus on diamond display glass for use in consumer, automotive defense, and industrial applications, Mitchell and Thode will oversee AKHAN’s strategic growth and capital investments. The Gurnee, Illinois facility, dubbed ‘Diamond Mine 1’, will be expanded to enhance AKHAN’s development and manufacturing capabilities to bring commercial products to market, including its unprecedented Miraj Diamond Glass. Due to diamond’s inherent properties, AKHAN’s Miraj Diamond Glass has proven to be six times stronger, 10 times harder and over 800 times cooler than leading flagship competitor glass.