TeraView chief executive Don Arnone.

Investment of $5.5 million (£3.5m) has been secured by Cambridge-based TeraView – a leader in Terahertz systems and solutions.

The money has come from a consortium of US, Asian and European Union (EU) institutional and corporate investors.

It will allow TeraView – based at St John’s Innovation Park – to accelerate the growth of its semiconductor, industrial and analytical business in Asia, the US and the EU.

It plans to focus on and marketing in Asia, as well as further product development in its semiconductor inspection market.

The money will also be used to enhance support and collaborations with existing customers in these markets.

TeraView says there is a growing business need for the unique capabilities of Terahertz light – for example, in the mobile phone and consumer electronics industries, which want to overcome limitations in the speed and fuctionality of current integrated circuits.

Terahertz can be used in the development and manufacturing of both existing and new generations of semiconductor integrated circuits.

“We are delighted to have attracted support from new investors, including some of our key customers,” said TeraView chief executive Don Arnone.

“The geographical spread of our investors – US, Asia, EU – also reflects the global nature of our business.

“Customers are deploying our products at their production sites across the world, and this investment greatly enhances our ability to support those customers, as well as expand our product development and sales and marketing activities in strategic areas such as the Asian semiconductor market.”