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Startup Funding: April 2022

Funding rolls in for photonics and batteries; 88 startups raise $1.3B.

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Silicon photonics holds the potential to vastly increase bandwidth in chips and systems while reducing power use — and investors are taking note. In April, one of the largest funding rounds went to a startup developing chip-to-chip optical I/O. But that wasn’t all. Photonics funding showed up in AI with a photonic Tensor core, in room-temperature quantum computing, and, of course, in lidar and other sensors. And expect more breakthroughs to come. Last month, the Netherlands poured over $1 billion into creating a photonic chip ecosystem with plenty of funding allocated for new startups.

Another particularly active area last month was batteries. This report covers 17 different startups ranging in stage from pre-seed to pre-IPO. Many of these companies are developing materials to be used in creating anodes, cathodes, or electrolytes. Several are trying to make battery manufacturing less environmentally harmful by turning CO2 into nanocarbon and graphite, improving the recycling process, or using biowaste. Multiple startups offering battery management systems also received funding. To understand why this is such an important part of high-performing batteries and the challenges involved, read the recent story Battery Management Getting Competitive For EVs.

Plus, funding for compute-in-memory, power semiconductors, solar wafers, and 5G in this look at 88 startups that collectively raised over $1.3 billion.

Semi & design

Ayar Labs raised $130.0M in Series C funding led by Boardman Bay Capital Management and joined by new investors including Hewlett Packard Enterprise, Nvidia, Agave SPV, Atreides Capital, Berkeley Frontier Fund, IAG Capital Partners, Infinitum Capital, Nautilus Venture Partners, and Tyche Partners, as well as existing strategic investors Applied Ventures, GlobalFoundries, Intel Capital, and Lockheed Martin Ventures. Ayar Labs offers a chip-to-chip optical interconnect solution it says eliminates the bottlenecks associated with system bandwidth, power consumption, latency, and reach for AI, HPC, cloud, telecommunications, aerospace, and remote sensing applications. The company has been working with GlobalFoundries on the development of its GF Fotonix platform. “The overall financing is much larger than we originally targeted, underscoring the market opportunity for optical I/O and Ayar Labs’ leadership position in silicon photonics-based interconnect solutions,” said Charles Wuischpard, CEO of Ayar Labs. “This financing allows us to fully qualify our solution against industry standards for quality and reliability and scale production starting this year.” Based in Santa Clara, California, USA, it was founded in 2015.

Elastics.cloud raised $17.0M in pre-Series A funding. Elastics.cloud provides silicon, hardware, and software that leverages the Compute Express Link (CXL) interconnect standard to create flexible, scalable, low latency composable systems. At an upcoming event, it plans to show two methods of memory expansion and pooling using FPGA cards connected via a CXL interface — memory pooling where devices can access a locally attached memory pool over a CXL connection, and memory expansion where devices can access a remote appliance with CXL based memory pools. Founded in 2021, it is based in San Jose, California, USA.

Binary Semiconductor emerged from stealth with “hundreds of millions” of yuan (CNY 100.0M is ~$15.6M) in angel funding from Taihe Fund, Longding Investment, Toll Microelectronic, and others. The startup will focus on routing switching chips, industrial control chips, and security chips. Founded in 2022, it is based in Wuhan, China.

Yun Silicon drew “hundreds of millions of yuan” (CNY 100.0M is ~$15.6M) in pre-Series A funding led by Lightspeed China Partners, joined by the National Integrated Circuit Industry Investment Fund, IDG Capital, and Sky9 Capital. The startup is developing data processing units (DPUs) for cloud networking and data center applications. It offers a 25G smart network card that provides high-performance network functions for data center servers, such as RDMA, virtual switching, and network storage offloading. Based in Shanghai, China, it was founded in 2021.

CIX Technology raised over CNY 100.0M (~$15.6M) in angel++ funding led by Shunwei Capital, joined by Qiming Venture Partners and Sky9 Capital. CIX is developing intelligent CPU SoCs and computing solutions compatible with the ARM instruction set and focused on performance and efficiency for high-end tablet computers, notebooks, desktops, and AR/VR. Funds will be used for R&D and market expansion. Based in Shanghai, China, it was founded in 2021.

MXW Device, also known as Meisiwei Semiconductor, raised over CNY 100.0M (~$15.6M) in Series A funding that included T-Rex Capital. The fabless company designs infrared remote control driver chips, smart terminal data line chips, LED point control driver chips, and single button touch detection chips. Funds will be used for R&D, investment in packaging and testing, and expanding to new products and business segments. Founded in 2012, it is based in Shenzhen, China.

Ruimeng Technology raised over CNY 100.0M (~$15.6M) in a Series B round that included China Fortune-Tech Capital, Midea Capital, and others. Ruimeng Technology focuses on high-performance analog and mixed signal chips, with products including operational amplifiers, ADC/DAC, various interfaces, and motor drives for applications such as security monitoring, industrial control, instrumentation, medical electronics, and automotive. Founded in 2008, it is based in Hangzhou, China.

APT Microelectronics received new investment from the Shanghai Huahong Hongxin Fund. APT develops RISC-V based 32-bit MCUs using the Alibaba Pingtou Ge core and self-developed IP. It has multiple product lines covering industrial control, smart home, consumer electronics, motor control, and frequency conversion control. Funds will be used to expand to more process technologies, increase production capacity, and develop new products. Based in Shenzhen, China, it was founded in 2012.

AI hardware

D-Matrix raised $44.0M in Series A funding led by Playground Global, joined by Microsoft’s M12, SK Hynix, and existing investors Nautilus Venture Partners, Marvell Technology, and Entrada Ventures. D-Matrix has developed a digital in-memory computing (DIMC) architecture that targets Transformer AI data center inference workloads, along with accompanying ML tools, software, and algorithms. It also announced a chiplet based on DIMC technology, with another to be released soon. “We’ve developed a path-breaking compute architecture that is all-digital, making it practical to implement while advancing AI compute efficiency far past the memory wall it has hit today,” said Sid Sheth, founder, president & CEO at D-Matrix. The funds will be used to build out its product roadmap and hire. Founded in 2019, it is based in Santa Clara, California, USA.

Houmo.ai, also known as Houmo Smart, raised “hundreds of millions of yuan” (CNY 100.0M is ~$15.6M) in pre-Series A+ financing led by Matrix Partners and GP Yueda Automobile Fund, joined by China SME Development Fund, Tianchuang Venture Capital, and previous investors Qiming Venture Partners and MSA Capital. Houmo is developing chips using a compute-in-memory (CIM) architecture. It taped out its first product last year, an SRAM-CIM the startup says provides greatly increased power efficiency. It is working on MRAM/RRAM-CIM AI chips. Funds will be used for R&D and to focus its efforts on chips for autonomous driving and robotics. Based in Nanjing, China, it was founded in 2020.

Seehi, also known as Shihaixintu Microelectronics, raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in venture financing from NetEase Youdao. The startup is developing high-performance, low-power 3D computer vision chips that support time-of-flight (ToF) and binocular vision. Target applications include face recognition, 3D imaging, and robot vision. The funds will be used for R&D and expansion into multi-sensor fusion and AI processors. Based in Chengdu, China, it was founded in 2020.

3E8 Technology received a CA$0.1M ($~0.1M) grant from Sustainable Development Technology Canada. 3E8 is developing a Photonic Tensor Core architecture based on photonic memory and high-speed, low-power I/O technologies that aims to increase the speed and efficiency of massively parallel matrix multiply-accumulates (MACs) for convolutional neural networks. Founded in 2020 based on research from George Washington University, it is based in Montreal, Canada.

EDA

Splendor Semiconductor, also known as Jiuyi Semiconductor, raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in pre-Series A funding led by Zhidao Capital and joined by Wuxi Capital. The startup focuses on design for test (DFT), automatic test pattern generation (ATPG), logic built-in self-test (L-BIST), and boundary scan. Founded in 2021, it is based in Wuxi, China.

UltraEDA, also known as Jiuxiao Intelligence, raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in angel funding from Changjiang Venture Capital. UltraEDA currently offers an HDL integrated development environment, static inspection, verification assistant tool with automatic testbench generation, and test stimulus generation tool. It plans to gradually build a complete digital IC front-end tool chain. Based in Nanjing, China, it was founded in 2021.

Manufacturing

GT AI, also known as Gantu Technology, raised “hundreds of millions of yuan” (CNY 100.0M is ~$15.6M) in a Series C round led by Guosheng Group and joined by Qualcomm Ventures and BoHa Capital. GT AI provides computer vision inspection, monitoring, and AI-assisted decision making, primarily focused on high-end circuit boards. Its offerings include intelligent monitoring of flexible printed circuit (FPC) process line operations, monitoring of FPC SMT whole process equipment, and a defect and yield management system. It plans to expand further to other manufacturing areas such as solar panels, batteries, and automotive, and to apply its computer vision technology to logistics and retail. Founded in 2018, it is based in Shanghai, China.

Liankang Information, also known as LK Tek, received venture funding from Addor Capital. The company provides a range of services, including PCB and flexible printed circuit (FPC) design, manufacturing, and test, RF automated test systems, SMT assembly, DDR SDRAM/HDD/SSD maintenance, automatic control system design, connector board design, and switching power supply design. Funds will be used for R&D and increasing production capacity. Founded in 2009, it is based in Suqian, China.

Equipment

Stelight Instruments drew over CNY 100.0M (~$15.6M) in Series B+ financing from Xingcheng Capital, China Fortune-Tech Capital, and AccoTest. Stelight offers optoelectronic test equipment and is expanding to semiconductor test equipment. Its products include broadband sampling oscilloscope, high-speed bit error analyzer, network traffic tester, fast wavelength meter, high-precision digital source meter, laser chip burn-in machine, and laser chip tester. Based in Suzhou, China, it was founded in 2017.

SemiGlory Electronics raised nearly CNY 100.0M (~$15.6M) in Series A financing from China Fortune-Tech Capital and Triniti Capital. SemiGlory designs and manufactures wafer transfer and handling products for semiconductor fabs. Funds will be used on construction of a new production line for 12-inch wafer products including FOUP (front opening unified pod) and FOSB (front opening shipping box). Based in Rongchang, China, it was founded in 2018.

Acroview Technology raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in Series A+ funding from Goldport Capital, following up its fundraising in February. Acroview develops automated programming systems for a wide range of programmable devices, including MCU, EPROM, EEPROM, NAND flash, NOR flash, eMMC, CPLD, CMOS PLD, FPGA, and anti-fuse. Based in Shenzhen, China, it was founded in 2013.

Teyan Semiconductor raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in a Series A round from Vinno Capital. Teyan Semiconductor provides laser, plasma, and sputter semiconductor manufacturing equipment for both wafers and substrate/package. Its offerings include laser marking, cutting, drilling, grooving, dicing, debonding, and solder bumping equipment. The company says its equipment is suitable for ​​advanced packaging production lines such as SiP, fan-out, chiplet, and 3D. Founded in 2017, it is based in Shenzhen, China.

Heyan Technology raised Series B funding from Walden International, National Integrated Circuit Industry Investment Fund, Oriza Holdings, Inno-Chip, GP Capital, Silan Innovation Investment, Ginkgo Valley Capital, TEDA Technology Investment, Xingcheng Capital, Royalsea Capital, SND Financial Holdings, and others. Heyan Technology produces semiconductor precision dicing equipment. It offers 6-inch, 8-inch, and 12-inch automatic precision dicing machines as well as an automatic cutting and sorting machine. Funds will be used for development of new products and on increasing production capacity. Founded in 2011, it is based in Shenyang, China.

Syft Technologies received equity investment from Ampersand Capital Partners. Syft develops selected ion flow tube mass spectrometry (SIFT-MS) solutions, a form of direct mass spectrometry that analyses volatile organic compounds (VOCs) in air with typical detection limits at parts-per-trillion level. In semiconductor manufacturing, it can be used for cleanroom monitoring, continuous monitoring of bulk and specialty gases, and to screen front-opening unified pod (FOUP) components and completed assemblies prior to their use for transporting wafers. Other applications include life sciences, environmental monitoring, and laboratory and research facilities. Founded in 2002, it is based in Canterbury, New Zealand.

Materials

Gokin Solar raised CNY 1.6B (~$251.3M) in a Series A round from IDG, Zhuhai Huafa Group, China Life Investment, CCB Private Equity, Guangdong Finance Fund, Shenzhen Investment Holdings Capital, ProCapital, Huamei Capital, Aiko Solar Energy, Midea Capital, and others. Gokin Solar manufactures high-efficiency and large-size N-type photovoltaic silicon wafers. The company is currently constructing a mono large-size silicon wafer project with 50GW production capacity. It expects to reach 30GW production this summer. Created in 2019 by IDG and Zhuhai Huafa Group, it is based in Zhuhai, China.

NexWafe closed its Series C round with an additional raise of €7.0M (~$7.7M), bringing the round total to £39.0M (~$44.6M). Investors include Ecosummit, Reliance Industries Limited, InnoEnergy, HEMMA Group, Saudi Aramco Energy Ventures, and others. NexWafe produces high-efficiency monocrystalline silicon wafers using in-line epitaxy. The wafers are designed as a drop-in replacement for Cz-Si wafers in solar cell production and the company says they provide higher efficiency and yield at a lower cost. Spun out from Fraunhofer Institute for Solar Energy Systems ISE in 2015, it is based in Freiburg, Germany.

Shandong Hofa New Material Technology drew “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in a Series A round led by CITIC Limited and joined by Rising Investments, Glacier Capital, and others. Hofa New Material manufactures ceramic materials, including silicon nitride ceramic substrates for applications such as power electronics. It also produces alumina ceramics, zirconia alumina filters, ceramic crucibles, and other precision ceramic parts. Funds will be used to expand production capacity. Founded in 2020, it is based in Jinan, China.

6K received a $1.5M grant from the Massachusetts Manufacturing Innovation Initiative (M2I2). 6K produces materials using its microwave-based plasma processing technology, called UniMelt, which it says reduces energy consumption and wastage. One of the company’s key areas is battery material manufacturing, and it is building out a new battery material production facility. Another focus is additive manufacturing, as its process can recycle used metal powder and scrap materials into metal powder used in 3D printing. For semiconductors, 6K produces chemical mechanical planarization (CMP) polishing materials including alumina, ceria, coated silica, and specialty particle coatings. Founded in 2014, it is based in North Andover, Massachusetts, USA.

Yunde Semiconductor Materials, or YMAT, raised Series A financing led by Addor Capital and joined by SDIC. The company provides semiconductor-grade precision quartz products, including quartz tubes, quartz boats, quartz tanks, quartz rings, quartz windows, and other devices for use in semiconductor manufacturing equipment. Founded in 2018, it is based in Ningbo, China.

Memory & storage

Konsemi, also known as Kangxinwei Storage Technology, raised CNY 192.0M (~$29.1M) in Series A financing from Ennovation Ventures and others. Konsemi is an embedded memory manufacturer, offering eMMC and UFS 3.1 product lines. Based in Hefei, China, it was founded in 2018.

Power devices

ETA Semiconductor, also known as Yutai Semiconductor, raised over CNY 100.0M (~$15.6M) in a pre-IPO round from Raystone Capital. The company develops power semiconductors including DC/DC power conversion, AC/DC power conversion, LDO, battery management chip, power management ICs, LED drivers, and audio amplifiers. Founded in 2017, it is based in Nantong, China.

Aichuangwei Microelectronics raised CNY 30.0M (~$4.5M) in Series A+ funding. The company develops analog and mixed-signal chips as well as wide-bandgap semiconductor power devices. The funds will be used for construction of a chip testing platform. Founded in 2015, it is based in Hefei, China.

Tsinsic, also known as Dongguan Qingxin Semiconductor Technology, raised CNY 30.0M (~$4.5M) in a Series A round from Lake VC. The startup manufactures silicon carbide (SiC) power semiconductors, including IPM, MOSFET, diodes, and power modules. It has a 6-inch production line and a power module packaging line, targeting applications such as EVs, renewable energy, and high-speed rail. Founded in 2018, it is based in Guangzhou, China.

Chengling Microelectronics drew “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in angel funding from iFlytek Ventures, Heifei Hi-Tech VC, and others. The startup designs power management chips for applications such as notebook computers, new energy inverter systems, and automotive. Based in Hefei, China, it was founded in 2022.

Jiaen Semiconductor received “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in Series A financing from Addor Capital. Jiaen Semi is a power semiconductor maker, with products including 600V-1200V IGBTs, 500V-1500V MOSFETs, 400V-1200V fast recovery diodes (FRD), and Schottky barrier diodes (SBD). The company has an IGBT product performance testing laboratory, an application and reliability laboratory, and an R&D center. Funds will be used for R&D, construction of product lines, and hiring. Founded in 2015, it is based in Qingdao, China.

Leapers Semiconductor drew “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in a Series A+ round from New Alliance Capital and SoftBank China Venture Capital. Leapers Semiconductor develops power devices including silicon carbide and IGBT modules for applications such as electric vehicles, smart grid, industrial motors, and medical equipment. The startup has mass produced IGBT modules for charging piles, industrial inverters, and commercial vehicles, as well as SiC modules for electric heavy trucks, hydrogen fuel cell commercial vehicles, and photovoltaics. Funds will be used for R&D and promotion in the electric vehicle market. Founded in 2019, it is based in Wuxi, China.

X-Signal Integrated, also known as Chipnor Microelectronics, raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in venture funding from Xiaomi Yangtze River Industry Fund. The startup produces mixed-signal and power devices, including brushless DC motor controllers, power management ICs, battery management ICs, and mini-LED backlight driver chips. Founded in 2020, it is based in Beijing, China.

Wireless

EpicMEMS, also known as Kaiyuan Communications, raised “hundreds of millions of yuan” (CNY 100.0M is ~$15.6M) in Series A+ funding from GEC-KIP Technology and Innovation Fund, Hillhouse Capital Group, IDG Capital, Oriental Fortune Capital, Qianhe Capital, Sequoia Capital China, Shunwei Capital, and Yuanhe Puhua. EpicMEMS produces RF front-end BAW filters and module chips for 4G/5G applications. Founded in 2018, it is based in Xiamen, China.

QuantalRF raised $15.0M in Series C funding led by Dara Capital and Metellus AG, with participation from existing shareholders. QuantalRF focuses on front-end RF semiconductors including power amplifiers, low noise amplifiers, and on-chip filters for a range of communication systems including 5G, Wi-Fi, and Ultra-Wide Band (UWB). Of the company’s progress in the past year, QuantalRF CEO Ali Fard said, “Third-party silicon testing validated our characterization in transformative filtering performance and compact size of our CMOS-SOI based RF front-end filters for the 5G C-band.” Funding will be used to expand its product portfolio of RF front-end CMOS solutions, increase hiring, and scale its platform for rapid customization of filters and other RF front-end products. Based in Zurich, Switzerland, the company was founded as DockOn in 2008.

SiTune Corporation raised $5.0M in Series A funding led by Cota Capital. SiTune develops low power RF and mixed-signal SoCs for 5G wireless transceivers and broadcast receivers. The company says its Hardware Intelligent Circuits technology combined with software enables use of calibration methods and digital correction techniques to optimize and correct performance of customized low power analog circuits. Its product lineup also includes tuners for advanced multi-channel TVs, set-top boxes, and mobile TVs. Funds will be used for development and expanding its portfolio of products. Founded in 2007, it is based in San Jose, California, USA.

milliBeam launched from stealth with AUD $0.8M (~$0.6M) in seed funding from CSIRO’s Main Sequence. A fabless company, milliBeam develops chipsets for high-performance millimeter-wave radios for 5G applications. It says its products specifically address challenges such as limited radio coverage, low energy-efficiency, and cost. “5G mmWave is an exciting and necessary next step in the evolution of the communications market,” said milliBeam founder and CEO Venkata Gutta. “However, there are inevitable teething problems and hurdles to overcome before it goes widespread including its suitability over long distances, how well it can go through walls, and energy-efficiency.” The startup says its technology could result in a ten-fold increase in radio signal range and an energy efficiency of over 25% over the next five years. Founded in 2021, it is based in Canberra, Australia.

Latys Intelligence received a CA$0.1M ($~0.1M) grant from Sustainable Development Technology Canada. Latys is developing reconfigurable metasurfaces to create a non-reciprocal wireless relay system for full-duplex communications that are protocol and modulation-agnostic. The startup says its technology directs RF energy where it’s needed instead of scattering it, resulting in less power consumption, and requires less hardware to run an effective wireless network. Founded in 2020, it is based in Montreal, Canada.

Picocom received funding from China Internet Investment Fund. Picocom designs and markets open radio access network (O-RAN) standard-compliant baseband SoCs and carrier-grade software products for 5G small cell infrastructure. Founded in 2019, it is based in Bristol, UK, and Hangzhou, China.

Quantum computing

IQM Quantum Computers received a €35.0M (~$36.9M) loan from the European Investment Bank. IQM focuses on superconducting quantum processors and the co-design of application-specific quantum hardware. The initial tranche of the EIB funds will be used for expanding the company’s quantum-dedicated fabrication facility in Finland, material research, and accelerating development and commercialization of quantum processors. Based in Espoo, Finland, IQM was founded in 2018 as a spin-out from Aalto University and VTT Technical Research Centre of Finland.

Huayi Quantum raised over CNY 100.0M (~$15.6M) in angel financing led by Gaorong Capital and joined by Sequoia Capital China, Turing Ventures, Aurisco, and MiraclePlus. The startup is developing modular, standardized, large-scale quantum computers based on ion trap technology. It is aiming for a quantum system of 100 to 200 qubits and also plans to develop a corresponding quantum computing cloud platform. Based in Beijing, China, it was founded in 2022 based on research from Tsinghua University.

Horizon Quantum Computing raised $12.0M in Series A funding from Tencent followed by an additional $1.1M raise from Sequoia Capital India, bringing the company’s total this month to $13.1M. Horizon Quantum offers programming tools to simply software creation for quantum computers, aiming to remove the need for prior quantum computing experience by automatically constructing quantum algorithms from programs written in classical code. Founded in 2018, it is based in Singapore.

QBoson, also known as Bose Quantum, raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in pre-Series A financing from Seashell Capital. The startup is developing an optical quantum computing platform, which it says has the benefits of high-speed operation as well as being stable at room temperature. Based in Beijing, China, it was founded in 2020.

Synergy Quantum closed a pre-Series A round. The startup develops post quantum encryption (PQE) security products and other solutions. “We are excited with the three recent contracts we have signed with a Swiss Private Bank for a client communication and data protection app, a research and design of a post quantum encrypted secure chip with a major European Semiconductor company, and the development of quantum satellite communication with the Quantum Mission of the Government of India,” said Jay Oberai, founder and CEO of Synergy Quantum. Founded in 2018, it is based in Geneva, Switzerland.

Sensors

GWIC, also known as North GuangWei, raised CNY 148.0M (~$22.9M) in venture funding. GWIC produces uncooled infrared detectors for military, automotive, security, and other night vision applications. Founded in 2006, it is based in Beijing, China.

LuminWave, also known as Luowei Technology, received more than $20.0M in Series B financing led by Anxin Capital, with participation from Value Capital, Nuoyan Capital, and others. LuminWave develops silicon photonic frequency-modulated continuous wave (FMCW) coherent detection and solid-state scanning SoCs as well as highly integrated lidar solutions. It currently has two product families: a solid-state large FOV (up to 120⁰x90⁰) series for collision avoidance and blind area detection applications and a FMCW 4D series for increased accuracy and immunity from lidar crosstalk. Applications include automotive, industrial automation, and smart infrastructure. Based in Hangzhou, China, it was founded in 2018.

Sensibel raised €15.0M (~$16.2M) in a Series A round led by TRUMPF Venture, joined by the EIC Fund, Skagerak Capital, Investinor, and SINTEF Venture. Sensibel develops optical MEMS readout technology that it has incorporated into MEMS microphones, which it claims can provide studio-quality audio recordings with improved performance compared to current MEMS microphones. Based on interference and diffraction, it uses a tiny energy-efficient laser in combination with a miniaturized and integrated interferometer to accurately measure the motion of a silicon-based membrane. The optical MEMS technology also has applications in other MEMS products such as accelerometers. Funds will be used to support production and R&D. Founded in 2016 based on research from SINTEF, it is based in Oslo, Norway.

Adaps Photonics drew “hundreds of millions of yuan” (CNY 100.0M is ~$15.6M) in a Series C round led by Longzhu Capital, joined by Kinzon Capital and Gaorong Capital. Adaps Photonics develops single photon detector (SPAD) direct time-of-flight (dToF) sensor chips for applications such as mobile phones, lidar, robots, and AR. Its current products include chips, modules, and silicon photon multipliers. Funds will be used for mass production and R&D. Based in Shenzhen, China, it was founded in 2018.

CVA Chip, also known as Xihua Technology, received over CNY 100.0M (~$15.6M) in Series A financing that included Leaguer and Hui Capital. CVA Chip develops sensors and edge computing chips for mobile phone, IoT, and automotive markets. Its product portfolio includes proximity sensor, capacitive touch sensor, pressure sensor, and smart scaler chips. It is in the process of releasing a 32-bit automotive MCU. Funds will be used for development of new products, hiring, and chip tapeout. Based in Shenzhen, China, it was founded in 2018.

Energy harvesting startup Enervibe raised $3.4M from Mobilitech Capital Fund, ProSeed Fund, and private investors. An option for future investment could bring the total to $5.0M. Enervibe designs zero-emission kinetic energy harvesting solutions. It has developed a chip-size Dynamic Vibration Energy Harvester (D-VEH), which is intended to power IoT devices such as smart industrial sensors. It currently offers products specifically for smart tires and for smart shoes. Founded in 2018, it is based in Tel Aviv, Israel.

Taifang Technology received “tens of millions” of yuan (CNY 10.0M is ~$1.6M) in venture funding from Lenovo. The startup combines its elastic wave sensor, chip, and algorithms into tactile sensing technology that is capable of recognizing touch force, position, and mode when a variety of hard materials are touched. Taifang says it has low energy consumption and supports glass, iron sheets, wood plate, and other materials as well as 3D surfaces. Its primary markets are consumer electronics and automotive, with products including force touch sensors for laptops, wearables, and medium and large touch screens, as well as low and medium speed collision sensing for automotive exteriors. Based in Beijing, China, it was founded in 2015.

EagleSens Intelligent Technology received venture investment from Jadestone VC. The startup develops custom chips and vision sensors for specialized computer vision applications. Based in Zibo, China, it was founded in 2018.

Huaxinlian Technology received venture funding from Songshan Lake Angel Fund. Huaxinlian Technology develops and manufactures ceramic pressure sensor cores for applications such as automotive, oil and gas pipelines, air conditioning, medical, industrial control, and aerospace. It recently launched a 3.5mm temperature-compensated ceramic piezoresistive sensor core. Founded in 2020, it is based in Dongguan, China.

Leanstar Electronic Technology received a new round of venture funding. The company produces a range of flexible micro-nano mechanical sensors including piezoelectric, strain, temperature and humidity, pressure, and capacitance for consumer electronics, medical monitoring, and IoT. Funds will be used for R&D, equipment procurement, and production line upgrades. Based in Suzhou, China, it was founded in 2013.

Display

VueReal raised $14.4M in a Series B round led by Cycle Capital, joined by TDK Ventures, glass manufacturer Vitro, Economic Development Canada, and BDC Capital. VueReal has developed a micro printing platform for microLED display products. The company says its platform increases manufacturing scalability and yield while enabling high performance and resolution. “VueReal’s technology enables a wide range of applications from compact microdisplays, to cost-competitive high-volume consumer displays, to fully customized displays,” said Reza Chaji, CEO of VueReal. Funds will be used for commercialization and increasing its range of custom display products. Founded in 2016, it is based in Waterloo, Canada.

HGC Lighting Solution, also known as Huayinxin Technology, raised CNY 70.0M (~$10.9M) in Series B+ financing led by Hongtai Fund and joined by Shenzhen Guozhong Venture Capital Management. The company makes a variety of LED products, including flip-chip LED, vertical LED, high voltage LED, and mini/micro LEDs for automotive lighting, special light sources, display backlighting, and display modules. The funds, a follow-on investment of the Series B reported in January, will continue to be used to expand the company’s R&D laboratory. Founded in 2017, it is based in Wuhan, China.

Display test equipment startup InZiv drew $10.0M in a Series A1 round led by BlueRed Partners, joined by OurCrowd and others. InZiv provides high-resolution inspection and repair of microLED, QLED, and OLED displays. The company says its equipment utilizes nano-optical technology capable of detecting even tiny light and color defects within pixels, with resolution reaching the sub-micron scale. Funds will be used to accelerate product development of fast electroluminescence (EL) and photoluminescence (PL) automated solutions, hiring, and to expand its global presence with a particular focus on the US and Asia. Based in Jerusalem, Israel, it was founded in 2018.

Afalight closed its Series B+ round from Bojiang Capital, closely following its B round in February. Afalight develops optoelectronic modules including standardized and customizable HDMI, USB, DisplayPort, and DVI modules and Source Optical Cables. It targets consumer products, including TVs and displays, mobile phones, video projectors, and VR, as well as for industrial cameras, medical equipment signal transmission, and automotive. Funds will be used for R&D, hiring, production line automation, and other projects. Founded in 2016, it is based in Shenzhen, China.

JY Mask, also known as Junyi Technology, raised Series C financing from Shenzhen High-tech Investment and others. The company produces high-precision fine metal masks (FMM) for OLED manufacturing. Founded in 2011, it is based in Shenzhen, China.

AR/VR

Yaoyu Vision Technology raised nearly CNY 10.0M (~$1.6M) in angel funding led by Yongsheng Capital, joined by Ralph Ventures, Shenzhen Tsinghua Lihe Capital Investment, and Nanjing Investment Shidao. The startup develops chips and algorithms for six degree of freedom (6DoF) simultaneous localization and mapping (SLAM) for AR/VR headsets and hand position recognition. Founded in 2022, it is based in Nanjing, China.

DigiLens completed the second close of its Series D round, adding Corning Incorporated as an investor. Including the first close reported last November, the round has raised the company over $50.0M, with a valuation over $530.0M. DigiLens develops head worn holographic display and waveguide technology for AR/XR smart glasses using a photopolymer and holographic contact copy manufacturing process that it says is cost-effective and scalable, enabling thin and light lenses. It expects products using its Bragg grating technology to enter the market over the next year. Based in Sunnyvale, California, USA, it was founded in 2003.

ADAS & autonomy

Haomo.AI raised “hundreds of millions of yuan” (CNY 100.0M is ~$15.6M) in Series A+ financing led by Bank of China Group Investment, joined by Shoucheng Holdings Limited. The company offers L2 assisted driving systems, with a version focused on highway driving available in several models from Great Wall Motors. “Haomo expects to roll out the urban road version of its in-house developed Level 2 autonomous driving system, the NOH (Navigation on HPilot), by mid-2022, and the all-scenario version in the second half of this year,” said Gu Weihao, CEO of Haomo. The startup plans to roll out a self-driving fleet in 2023. It is also developing L4 self-driving low-speed vehicles for last-mile deliveries with grocery and e-commerce partners. Funds will be used for R&D and hiring. Based in Beijing, China, it was started in 2015 as part of Great Wall Motor and became independent in 2019.

Eka Smart Car raised nearly CNY 100.0M (~$15.6M) in Series A and A+ rounds that included Beijing Fen Xin Investment Management and Silicon Harbor Capital. Eka Smart Car develops L4 autonomous driving platforms and wire-controlled skateboard-style chassis for low-speed urban applications such as delivery and mobile kiosks. Based in Shanghai, China, it was founded in 2018.

In-Driving, also known as Huanyu Zhixing Technology, drew “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in Series B funding led by Suzhou Asset Management. The company develops algorithms and computing platforms for autonomous driving, including domain controllers and software to support autonomous parking and L2+ ADAS. Based in Wuhan, China, it was founded in 2014.

Leadgen Technology drew “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in pre-Series A+ funding from Zhenxin Capital and others. Leadgen Tech is developing technology for L4 self-driving buses and logistics vehicles for urban environments. Based on sensor fusion, decision-making, and trajectory planning, it says its solution doesn’t rely on large overhead sensor modules and can be incorporated into standard vehicle chassis. Funds will be used for hiring and commercialization. Founded in 2016, it is based in Beijing, China.

Auto components

EV maker and component supplier Rimac Automobili received €120.0M (~$129.7M) in private equity investment from Investindustrial. Rimac develops electric hypercars and also produces electric powertrains, high-voltage batteries, and infotainment modules for other automakers, including Porsche. The company also now owns the Bugatti brand as a joint venture with Porsche. Founded in 2009, it is based in Sveta Nedelja, Croatia.

Nodar raised $12.0M in Series A funding led by New Enterprise Associates with participation from existing investor Rhapsody Venture Partners. Nodar develops long-range 3D vision technology based on cameras for automotive applications. Proposed as an alternative to lidar or as a dominant 3D sensor in a sensor fusion environment, the system uses two or more off-the-shelf automotive cameras to produce precise 3D point clouds through the combination of auto-calibration of camera alignment and computer vision algorithms. The startup says the system can detect an object as small as 10cm from 150m. It targets L2+ and L3 passenger vehicle ADAS as well as L4 trucks and robotaxis. Founded in 2018, it is based in Somerville, Massachusetts, USA.

GiantOhm, also known as Dingsheng Microelectronics, raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in angel funding from Shanghai Furong Investment. GiantOhm manufactures resistors with a focus on the automotive market. Its products include thick film resistors, alloy resistors, and plastic package resistors. Funds will primarily be used in construction of a new factory. Founded in 2021, it is based in Hangzhou, China.

Oritek, also known as Ouyeel Semiconductor, received pre-Series A funding led by SDIC Investment and joined by Ningbo Joyson Electronic, Changzhou Xingyu, AAC Technologies, Baolong Technology, Arcsoft Technology, Join Hands Capital, and others. Oritek is developing smart car chips and solutions. Based in Shenzhen, China, it was founded in 2021.

Batteries

Dongdao New Energy received over CNY 500.0M (~$78.1M) in pre-IPO funding from SAIC Motor’s Shangqi Capital, Guodiao New Economy Industry Investment Fund, Minmetals Innovation Investment, Hua Venture, CoStone Capital, and Wens Investment. Dongdao New Energy produces lithium-ion battery anode materials, including natural graphite, artificial graphite, and silicon carbide. The funding will be used to expand to cathode materials and electrolytes. Based in Zhanjiang, China, it was founded in 2011.

Blue Spark Technologies received $40.0M in debt growth financing led by Ghost Tree Partners and joined by Aon plc. Blue Spark develops flexible printed batteries based on a carbon-zinc manganese dioxide chemistry for wearables, medical patches, battery-assisted RFID, and smart cards. Beyond batteries, it has released a Bluetooth-enabled wearable patch that monitors body temperature, detects fevers, and can report to healthcare providers for up to 72 hours. Founded in 2003, it is based in Westlake, Ohio, USA.

LionGo New Energy raised nearly CNY 200.0M (~$30.5M) in Series A funding led by Oceanpine Capital and joined by CAS Fund of Funds, JN Tech, JZ Capital, and Shanxi HCXF Group. LionGo produces electrolyte materials for batteries, offering liquid, blended, and solid electrolytes. Funds will be used for R&D and capacity expansion. Founded in 2021, it is based in Hangzhou, China.

Twaice raised $30.0M in additional Series B funding led by Coatue, joined by other investors including individual investor Lip-Bu Tan. The startup offers digital twin and predictive analytics software that optimizes the development and operation of lithium-ion batteries, including aging and performance prediction. “In the last year we tremendously increased our mobility OEM and energy customer base, established new business segments for bus and commercial fleet operators, and formed a new product offering for EV residual value certification,” said Twaice co-CEO and founder Michael Baumann. Funding will be used in optimization of its cloud analytics platform and to expand its presence in Europe and North America. Founded in 2018, it is based in Munich, Germany, and has raised $75M to date.

e-Zinc raised $25.0M in Series A financing led by Anzu Partners, joined by BDC Capital, Toyota Ventures, Eni Next, and existing investors including Energy Foundry. e-Zinc develops zinc-air grid-scale energy storage systems to store energy for long periods of time while keeping costs lower than lithium-ion batteries. It says its battery can discharge energy for several days at rated power, compared to only a few hours for most other battery types. “Since raising seed funding in 2020, we have refined our technology and achieved many critical technical milestones, such as demonstrating how our system pairs to solar and grid generation, developing the Balance of System (BoS), and implementing a software and controls layer,” said James Larsen, CEO of e-Zinc. “With this Series A financing, we now have the opportunity to execute high-value commercial pilot projects that provide in-field validation for our batteries.” Founded in 2012, it is based in Toronto, Canada.

Verkor received a €20.0M (~$22.4M) strategic investment from automotive supplier Plastic Omnium. Verkor’s goal is to lower the carbon impact of lithium-ion battery manufacturing by making batteries closer to where they’re used, implementing Industry 4.0 technologies, and automatically recycling production scrap. The company is aiming for 50 GWh battery production capacity by 2030. The two companies will work together on the development, manufacture, and commercialization of battery modules and parts using Verkor’s cells, primarily for light and semi heavy-duty electric vehicles. Starting in 2025, Plastic Omnium will have preferred access to an initial volume of at least 4 GWh per year from Verkor. Founded in 2020, it is based in Grenoble, France.

Hisun, also known as Hangsheng Lithium Energy, raised CNY 100.0M (~$15.6M) in Series A funding from Shenzhen Venture Capital and others. Hisun develops and manufactures electrolytes and silicon carbon anode materials for lithium-ion batteries. The company expects that by the end of the year its total electrolyte production capacity will reach 70,000 tons per year across multiple sites. Founded in 2016, it is based in Shenzhen, China.

South 8 Technologies raised $12.0M in Series A funding led by Anzu Partners with participation from LG Technology Ventures, Shell Ventures, Foothill Ventures, and Taiyo Nippon Sanso Corporation. South 8 develops electrolyte formulations for lithium-ion batteries. Its Liquefied Gas Electrolyte (LiGas) technology uses solvents that are normally gaseous at standard pressure and room temperature but may be liquefied under pressure and used as an electrolyte within the cell. “By removing the threat of thermal runaway reactions or thermal propagation, South 8’s technology significantly increases Li-ion safety and offers high compatibility with today’s most common electrode materials and manufacturing techniques,” said Robert McIntyre, Managing Director at LG Technology Ventures. It targets high-performance batteries for electric vehicle, grid storage, aerospace, and defense applications. Founded in 2016 as a spin out of UC San Diego, it is based in San Diego, California, USA.

Liminal Insights drew $8.0M in Series A funding led by Good Growth Capital and The University of Tokyo Edge Capital Partners, with participation from Volta Energy Technologies, Helios Capital Ventures, Impact Science Ventures, and existing investors Chrysalix Ventures, Elemental Excelerator, and Incite.org. Liminal provides a battery intelligence platform that uses ultrasound and machine learning analytics technology for advanced battery inspection throughout manufacturing stages. The startup says the non-destructive ultrasonic inspection provides a detailed look inside battery cells to offer a better understanding of the physical environment during the production process. “One critical piece that our technology solves for is enabling the production of lower-cost, higher-performing, and more reliable batteries,” said Andrew Hsieh, Liminal’s co-founder and CEO. “The Series A funding is propelling our products into the marketplace as automakers strive to scale up e-mobility quickly.” Founded in 2015 under the name Feasible, it is based in Emeryville, California, USA.

Green Li-ion added an additional $6.4M to its Series A round, bringing the total to $11.6M. Led by Energy Revolution Ventures, the round was joined by EDP Ventures, TRIREC, SOSV, Entrepreneur First, MB Energy Partners, Ilshin Holdings, Envisioning Partners, and GS Holdings. The startup claims its lithium-ion battery recycling process can produce cathodes of 99.9% purity for use in new batteries at reduced time and cost, and that the process is compatible with different Li-ion battery types. Funds will be used for commercial operations, expanding into the European market, and R&D. Founded in 2020, it is based in Singapore.

UP Catalyst received €0.5M (~$0.6M) in pre-seed funding led by Sunly and joined by Scottish Baltic Invest, Little Green Fund, and UniTartu Ventures. The round joins a €1.6M (~$1.7M) grant from EIT RawMaterials. UP Catalyst produces carbon nanomaterials and graphite materials for batteries from waste CO2 using flue gases from heavy industry emitters as a feedstock. “The funding will help us to scale up the technology by building the first industrial-scale prototype synthesis unit, thus providing the material to customers in much larger volumes as the demand is already exceeding supply,” said Gary Urb, UP Catalyst CEO. Founded in 2019, it is based in Tallinn, Estonia.

Exum Instruments raised $1.8M in a seed round from Cortado Ventures, Alchemy Capital Management, Amerocap, Oasis Capital, FortySix Venture Capital, and others. Exum builds instruments and software for materials development and analysis. Its first product is a Laser Ablation Laser Ionization Time of Flight Mass Spectrometer (LALI-TOF-MS), which it says can perform precise and rapid analysis of materials for a wide range of applications. The company notes its ability to measure both lithium and metallic elements makes it suitable for battery research. Based in Denver Colorado, USA, it was founded in 2017.

BattGenie received $1.5M in seed funding from Powerhouse Ventures and VoLo Earth Ventures, as well as a $0.3M grant from the Washington State Department of Commerce. The startup offers battery management system software that uses physics-based battery models to simulate and control the battery. It says its models can account for various physical degradation phenomena such as Li-plating, SEI layer formation, and intercalation-induced stresses, allowing it to calculate and implement optimal charge profiles that increase charging speed and battery life. Founded in 2017 as a spin out from University of Washington, it is based in Seattle, Washington, USA.

Legend Energy raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in Series A funding led by Fresh Capital. Legend Energy provides management and deployment of lithium-ion battery systems. Its software offerings include lithium battery cell-level evaluation and screening technology, thermal runaway prediction algorithms, and intelligent charging and discharging technology. On the hardware side, it manufactures modular large and medium-sized energy storage systems. Funds will be used for R&D and market expansion. Founded in 2015, it is based in Shanghai, China.

Group14 Technologies received a $0.4M grant from the Washington State Department of Commerce. Group14 develops composite materials for lithium-silicon batteries. The company says its micronized silicon-carbon powder has five times the capacity and enables up to 50% more energy density compared to conventional graphite for Li-ion battery anodes and can be dropped in to existing manufacturing processes. Founded in 2015, it is based in Woodinville, Washington, USA.

Nanode Battery Technologies received a CA$0.1M (~$0.1M) grant from Sustainable Development Technology Canada. Nanode produces metal alloy anodes for lithium and sodium ion batteries. The startup uses a melt spinning technology to produce metal alloy ribbons that can be used directly as anodes, a process it says improves storage capacity while reducing manufacturing time. Founded in 2020, it is based in Edmonton, Canada.

Nexus Power received a seed investment from JITO Angel Network. Nexus develops rechargeable, bio-organic, and biodegradable batteries from crop residue. The startup says the Peptide Crystal batteries are capable of covering a wide voltage range from 5V to 800V, making them suitable for applications from mobile phones to electric vehicles. Founded in 2019, it is based in Bhubaneswar, India.

Table: Selected companies that received funding in April 2022.

Company Sector Amount Raised
(M, USD)
Funding Type Headquarters
Gokin Solar Solar Wafer $251.3 Series A China
Ayar Labs Interconnect $130.0 Series C USA
Rimac Automobili Auto Components $129.7 Equity Croatia
Dongdao New Energy Batteries $78.1 Pre-IPO China
D-Matrix AI HW $44.0 Series A USA
Blue Spark Technologies Batteries $40.0 Debt USA
IQM Quantum Computers Quantum $36.9 Debt Finland
LionGo New Energy Batteries $30.5 Series A China
Twaice Batteries $30.0 Series B Germany
Konsemi Memory $29.1 Series A China
e-Zinc Batteries $25.0 Series A Canada
GWIC Sensor $22.9 Venture China
Verkor Batteries $22.4 Strategic France
LuminWave Sensor $20.0 Series B China
Elastics.cloud Semi/Design $17.0 Pre-A USA
Sensibel Sensor $16.2 Series A Norway
Binary Semiconductor Semi/Design $15.6+ Angel China
Yun Silicon DPU $15.6+ Pre-A China
Houmo.ai AI HW $15.6+ Pre-A+ China
GT AI Inspection $15.6+ Series C China
EpicMEMS Wireless $15.6+ Series A+ China
Adaps Photonics Sensor $15.6+ Series C China
Haomo.AI ADAS & Autonomy $15.6+ Series A+ China
CIX Technology CPU $15.6 Angel China
MXW Device Semi/Design $15.6 Series A China
Ruimeng Technology AMS $15.6 Series B China
Stelight Instruments Equipment $15.6 Series B+ China
SemiGlory Electronics Equipment $15.6 Series A China
ETA Semiconductor Power Semi $15.6 Pre-IPO China
Huayi Quantum Quantum $15.6 Angel China
CVA Chip Sensor $15.6 Series A China
Eka Smart Car ADAS & Autonomy $15.6 Series A, A+ China
Hisun Batteries $15.6 Series A China
QuantalRF Wireless $15.0 Series C Switzerland
VueReal Display $14.4 Series B Canada
Horizon Quantum Computing Quantum $13.1 Series A Singapore
Nodar Auto Components $12.0 Series A USA
South 8 Technologies Batteries $12.0 Series A USA
HGC Lighting Solution Display $10.9 Series B+ China
InZiv Display $10.0 Series A1 Israel
Liminal Insights Batteries $8.0 Series A USA
NexWafe Solar Wafer $7.7 Series C Germany
Green Li-ion Batteries $6.4 Series A Singapore
SiTune Corporation Wireless $5.0 Series A USA
Aichuangwei Microelectronics Power Semi $4.5 Series A+ China
Tsinsic Power Semi $4.5 Series A China
Enervibe Energy Harvesting $3.4 Venture Israel
UP Catalyst Batteries $2.3 Pre-Seed, Grant Estonia
Exum Instruments Batteries $1.8 Seed USA
BattGenie Batteries $1.8 Seed, Grant USA
Seehi AI HW $1.6+ Venture China
Splendor Semiconductor EDA $1.6+ Pre-A China
UltraEDA EDA $1.6+ Angel China
Acroview Technology Equipment $1.6+ Series A+ China
Teyan Semiconductor Equipment $1.6+ Series A China
Chengling Microelectronics Power Semi $1.6+ Angel China
Jiaen Semiconductor Power Semi $1.6+ Series A China
Leapers Semiconductor Power Semi $1.6+ Series A+ China
X-Signal Integrated Power Semi $1.6+ Venture China
QBoson Quantum $1.6+ Pre-A China
Taifang Technology Sensor $1.6+ Venture China
In-Driving ADAS & Autonomy $1.6+ Series B China
Leadgen Technology ADAS & Autonomy $1.6+ Pre-A+ China
GiantOhm Auto Components $1.6+ Angel China
Legend Energy Batteries $1.6+ Series A China
Hofa New Material Materials $1.6 Series A China
Yaoyu Vision Technology AR/VR $1.6 Angel China
6K Materials $1.5 Grant USA
milliBeam Wireless $0.6 Seed Australia
Group14 Technologies Batteries $0.4 Grant USA
3E8 Technology AI HW $0.1 Grant Canada
Latys Intelligence Wireless $0.1 Grant Canada
Nanode Battery Technologies Batteries $0.1 Grant Canada
APT Microelectronics MCU Undisclosed Venture China
Liankang Information Manufacturing Undisclosed Venture China
Heyan Technology Equipment Undisclosed Series B China
Syft Technologies Equipment Undisclosed Equity China
Yunde Semiconductor Materials Materials Undisclosed Series A China
Picocom Wireless Undisclosed Venture UK & China
Synergy Quantum Quantum Undisclosed Pre-A Switzerland
EagleSens Sensor Undisclosed Venture China
Huaxinlian Technology Sensor Undisclosed Venture China
Leanstar Electronic Technology Sensor Undisclosed Venture China
Afalight Display Undisclosed Series B+ China
JY Mask Display Undisclosed Series C China
DigiLens AR/VR Undisclosed Series D USA
Oritek Auto Components Undisclosed Pre-A China
Nexus Power Batteries Undisclosed Seed India

Funds & investors

PhotonDelta received €1.1 billion (~$1.2 billion) in public and private investment to boost photonic chip development from the Netherland’s Ministry of Economic Affairs and Climate Policy and other organizations. PhotonDelta is a cross-border ecosystem of photonic chip technology organizations. The funding is part of a six-year program to build 200 startups, scale up production, create new applications for photonic chips, and develop infrastructure and talent. “The Netherlands is considered a pioneer in the development of PIC technology, and thanks to the continuous support from the Dutch government, we have been able to build a full supply-chain around it that is globally recognized as a hotspot for photonic integration,” said Ewit Roos, CEO at PhotonDelta.

Cedarlake Capital closed a CNY 1.3B (~$189.6M) fund that will focus on smart manufacturing and new energy vehicles. It is looking to invest in verticals such as automotive semiconductors, satellite navigation, energy storage, hydrogen, and AR/VR.

AI applications

As AI increasingly plays a role in consequential decisions ranging from who to hire to what gets flagged as a national security threat, understanding how those decisions were made is growing more important. Investors agree, with significant funding going to a research company aiming to closely examine the behavior of large AI models like the GPT-3 language model. Below, some of the month’s largest rounds for companies using AI in products and services.

  • Anthropic raised $580.0M in Series B to better understand and explain large-scale AI models, eventually hoping to build large-scale models which have better implicit safeguards and require less after-training interventions.
  • Biofourmis raised $300.0M in Series D to remotely monitor patients’ biomarkers such as heart rate and temperature and use the data to predict disease.
  • Harness raised $175.0M in Series D to detect the quality of software deployments for faster application releases.
  • METiS Pharmaceuticals raised $150.0M in Series B for AI-driven drug formulation.
  • Kinexon raised $130.0M in Series A for its IIoT platform that provides real-time location tracking and analytics for industry and manufacturing, as well as sporting events.
  • Observe AI raised $125.0M in Series C for its AI-powered call center platform.

Related
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