corporate
Cresco is proud to have advised the investor consortium composed of Matterwave Ventures, FORWARD.one and Flanders Future Tech Fund (PMV) on its โฌ15 million Series A investment in Tusk IC, an Antwerp-based chip developer and spin-off of KU Leuven’s MICAS lab.
Tusk IC develops beamformer chips for electronically steered flat-panel antennas that connect to low- and medium-earth-orbit satellite networks, such as Starlink. Its chips target the Ka-band, a frequency band with significant remaining capacity for satellite communication. By manufacturing in standard CMOS technology, Tusk IC aims to produce its chips more cheaply and efficiently than the specialised alternatives currently used in professional satellite terminals.
The new funding will support Tusk IC’s transition from limited production runs to full mass production, with a production-ready and scalable chip targeted for the end of 2027 and the first commercial antennas expected to reach the market in 2028. Maritime and aviation satellite terminals are expected to be among the company’s first commercial markets, followed by rail, trucking and defence applications. Tusk IC currently employs around 20 people.
We congratulate Tusk IC, its founders and management, and the investor consortium on this milestone, and thank all parties involved for the constructive collaboration throughout the transaction.
Special thanks to Silviu Apostu and Ute Theel (Matterwave), Arjan Gรถbel (Forward.One), and Michaรซl Raes (Flanders Future Tech Fund) for the continued trust in Cresco and the pleasant collaboration throughout the process.
The Cresco deal team was led by David Dessers and consisted of Amber Van Cauwenbergh and Rutger Duden.
Read more in De Tijd.
In case of any questions on this deal or venture capital transactions, feel free to contact David Dessers.
