Substrate
PrivateLast Round
Early Funding
Oct 29, 2025
Est. Valuation
$1B
Total Funding Raised
$108M
Momentum
Top 10%
of companies Caplight tracks
Company Overview
Substrate is a semiconductor company that develops advanced X-ray lithography systems and vertically integrated foundry services to manufacture next-generation AI chips.
Sector
Frontier & Industrial Tech
Verticals
Semiconductors, Computing Hardware, Smart Manufacturing
Business Model
B2B
Customer Profile
Services & Consulting
AI Layer
Non-AI
Keywords
Historical Pricing
Historical view of private secondary pricing and transaction trends.
Substrate Comparables
Compare Substrate with similar companies based on industry and business-model similarity.
| Company | Similarity | Market Cap |
|---|---|---|
| Lace Lithography | 85% | |
| Inversion Semiconductor | 82% | |
| xLight Inc. | 76% | |
Substrate Funding Rounds
Historical fundraising activity
| Round | Date | Amount Raised | Valuation | Investors | Sources |
|---|---|---|---|---|---|
| Early Funding | Oct 29, 2025 | ||||
| Seed | Jun 20, 2024 |
Key People
Founding team and executive leadership
Substrate Investors
Notable investors and investment history
| Investor | Rounds |
|---|---|
| Allen & Company | Early Funding |
| South Park Commons | Seed |
| Craft Ventures | Seed |
| Pathfinder Venture Capital | Early Funding |
| Venture Highway | Early Funding |
| Long Journey Ventures | Early Funding |
| Valor Equity Partners | Early Funding |
Market signals
Structured signals derived from secondary market and firmographic data.
- Jun 6, 2026
Grew 46% QoQ, from 13 to 19 employees.
- Feb 19, 2026
Grew 50% QoQ, from 8 to 12 employees.
Substrate Filings
SEC and related filings with document metadata.
| Typed | Date | Amount Offered | Amount Sold | Filling | Pages | Download |
|---|---|---|---|---|---|---|
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Frequently Asked Questions
Common questions about Substrate's valuation, stock price, and market status.