Packaging and inspection companies draw funding; 124 startups raise over $2.3 billion.
Packaging was a hot spot in April, with one of the largest rounds going to a middle-end-of-line advanced packaging company. A second packaging company also drew significant funding for its focus on wafer-level packaging for CMOS image sensors. Two packaging substrate manufacturers also saw investment.
Two photoresist makers also drew sizeable rounds. Both they and the packaging companies are based in China. There are plenty of others, too: 68% of the companies in the month’s list and 75% of the reported funding amount went to Chinese companies. A sizeable chunk of that went to the aforementioned packaging company and a maker of cathode materials for lithium-ion and sodium-ion batteries.
Investors also placed big backing behind printed and in-mold electronics for integrated HMI, a microprocessor for Europe’s upcoming supercomputers, and a base station-on-a-chip that claims to replace a rack of communications equipment.
Another area of activity was test, inspection, and measurement equipment, with nine startups receiving funds for systems such as hyperspectral vision, light and electron microscopy, and 3D CT metrology.
Plus, a new photonics foundry, multiphysics simulation, speeding up software with hardware memory management, glass ceramic RF, lithium niobate PICs, and neurons-on-silicon feature in this look at 124 startups that raised a collective $2.3 billion in April 2023.
SiPearl raised €75.0M (~$82.1M) from Arm, Atos Group, and French Tech Souveraineté, plus €15.0M (~$16.4) in previously-reported funding from the European Innovation Council Fund, for a total of €90.0M (~$98.5M) in the first close of its Series A round. The financing includes up to €25.0M ($27.4M) in convertible debt from the European Investment Bank. Additional investors are expected to join the round by the end of the year. SiPearl is designing a microprocessor for high-performance computing. Optimized for energy efficiency, it is designed to work with any third-party accelerator, such as GPUs, AI specialized chips, or quantum accelerators. The Rhea microprocessor, based on the Arm Neoverse V1 platform, initially targets the exascale supercomputer being developed by the EuroHPC initiative. Funds will support commercialization in early 2024. Based in Maisons Laffitte, France, SiPearl was founded in 2019 and has raised €110.5M to date.
JoinSilicon Microelectronics raised over CNY 100.0M (~$14.5M) in Series A funding led by Aplus Capital, joined by ZJ Innopark and Z&Y Capital. JoinSilicon provides ASIC design services, including front-end and back-end design, IP integration and customization, verification, package design, and ATE test design. It also develops a range of high-speed data and memory interface IP. Funds will be used for R&D of additional high-speed interface IP and chiplet products. Based in Nanjing, China, it was founded in 2021.
Sietium Semiconductor raised over CNY 100.0M (~$14.5M) in a Series A round from JC Capital, Yantai Finance Development Investment Group, Shandong Provincial Guidance Fund, and others. Sietium designs GPU chips and cards for embedded, industrial control display, PC, server and data center, and other applications. Founded in 2019, it is based in Xi’an, China.
LeapFive Technology raised CNY 100.0M (~$14.5M) in Series A financing led by Huajin Capital, with participation from Da Heng Qin, Zhuhai Science and Technology Venture Capital, Jingcheng Capital, and Shaanxi Investment Group. LeapFive develops RISC-V chips for industrial IoT applications. It currently offers a Wi-Fi + BLE dual-mode chip and edge computing application processor, along with a full stack of software services. LeapFive also provides standard and customized modules and development kits. Focus areas for the company include intelligent power grids and logistics, as well as smart home devices. Funds will be used for hiring, marketing, product iteration, and expanding into smart city and manufacturing markets. Founded in 2020, it is based in Foshan, China.
VyperCore emerged from stealth with £4.0M (~$5.0M) in seed funding from Octopus Ventures, Foresight WAE Technology, Science Creates Ventures, British Growth Fund, and Silicon Roundabout Ventures. VyperCore has developed a hardware memory allocation management technology that defines an object-based view of the memory from within the core of the processor. The startup claims it enables acceleration of modern managed-language software, such as Python and C#, by up to a factor of 10, and can provide a >1.5x speedup on software written in older languages like C and C++. Additionally, it says the memory management technology is capable of eliminating the most prominent memory safety issues, such as buffer overflows and use-after-free, helping to secure existing software. “VyperCore’s proprietary memory management technology can be integrated into all leading processor architectures. Its ability to accelerate existing complex workloads in the data center delivers huge cost and energy savings in the data center, without any rewriting of existing code bases,” said Russell Haggar, VyperCore’s executive chairman and co-founder. Its first product will be a data center application accelerator card based on a modified RISC-V core. Funds will be used to open design centers and for product development. Founded in 2022, it is based in Cambridge, UK.
Yun Silicon received pre-Series A+ funding led by Huaqiang Capital. The startup develops data processing units (DPUs) for cloud networking and data center applications. Its capabilities include unified computing, network, and storage management as well as congestion control. It also 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. Funds will be used for R&D, business development, and hiring. Based in Shanghai, China, it was founded in 2021.
Cortical Labs received $10.0M in funding led by Horizons Ventures, with participation from Blackbird Ventures, LifeX Ventures, Radar Ventures, and In-Q-Tel. Cortical Labs creates bio-based AI computing systems that combine neurons grown from human stem cells with silicon. The neurons are cultivated inside a nutrient rich solution and grown across a silicon chip, which has a set of pins that send electrical impulses into the neural structure and receive impulses back in return. The organic neural network is controlled using an operating system designed to interface with the neurons and send information about their environment with positive or negative feedback. The startup says the resulting system is self-programming and low power. The first target market is pharmaceutical research and development. Funds will be used to accelerate R&D and bring the product to market. Founded in 2019, it is based in Melbourne, Victoria, Australia.
New Dimension Systems drew over CNY 100.0M (~$14.5M) in a Series D round from Jiupai Capital, Xin Ding Capital, Guoxin Venture Capital, and F&D Assets. New Dimension Systems provides 3D CAD software for manufacturing, including of electronics. Along with 3D CAD, its product suite includes cloud data management, part models, and communications tools. Other industries it targets include new energy, automotive, rail transport, and industrial machinery. Founded in 2003, it is based in Shanghai, China.
Quanscient raised €3.9M (~$4.3M) in seed and grant funding led by Maki.vc, joined by Business Finland and others. Quanscient offers cloud-based multiphysics simulation technology for electromagnetics, mechanics, and fluid dynamics. Its solution supports simulation of MEMS, motors, superconductors, piezoelectrics, RF antennas, microwave components, and other devices used in areas such as electronics, automotive, fusion energy, and aerospace. The startup is also building quantum computing algorithms using the quantum lattice Boltzmann method (QLBM) to accelerate computational fluid dynamics simulations and offers custom quantum algorithm development. “Simulating superconductors, that are crucial for fusion energy, MRI devices, and high-tech components, is extremely complex. With the existing solutions, it can take up to a month to run a superconductor simulation to provide feedback for product development. Quanscient can do this in a few hours,” said Juha Riippi, co-founder and CEO of Quanscient. Funds will be used to accelerate product development and expansion. Founded in 2021, it is based in Tampere, Finland.
e2ip Technologies raised CAD $120.0M (~$88.1M) in a Series B round led by Export Development Canada and McRock Capital, joined by Investissement Québec, DNA Fund, and National Bank of Canada. e2ip manufactures screen printed electronics, embedded systems, electromechanical systems, membrane switches, touchscreens, 5G smart surfaces, and In-Mold-Electronics (IME) platforms for human machine interface (HMI) and industrial IoT devices. “e2ip’s Smart Structural Surface technologies enable functions such as touch controls, lighting, telecommunication and energy harvesting to be printed using additive manufacturing processes, and then directly integrated within the structural surface material of the objects, machines, appliances, and systems we all interact with in our everyday lives,” said Eric Saint-Jacques, CEO of e2ip technologies. It targets the aerospace, medical, industrial, transportation, and appliance sectors. Funds will be used to expand its embedded systems capabilities and begin deployment of new IME production lines. Formed in 2016 with the acquisition of GGI Solutions by a group of investors, it is based in Montreal, Quebec, Canada.
Everstream Analytics received $50.0M in Series B financing led by Morgan Stanley Investment Management and StepStone Group, with participation from existing investor Columbia Capital. Everstream Analytics provides a supply chain analytics platform for planning, procurement, and logistics, along with multi-tier visibility and risk assessment for a range of industries, including semiconductor chips and electronics. Founded in 2012, it is based in San Marcos, California, USA.
Prosper Precision Machine Tool (PMT) received over CNY 250.0M (~$36.3M) in Series D financing from China Galaxy Investment, Greater Bay Area Homeland Investments, China Merchants Securities, ZBJL Capital, Shaanxi Financial Assets Management, Beijing Advanced Fund, and Xicheng Capital. PMT makes precision CNC machines, including 5-axis machining centers and ultra-high precision optical grinding machines, which can be used to manufacture lenses for lithography machines. Its systems are also used for automotive, aerospace, and industrial equipment parts. Funds will be used for R&D and expansion of production capacity. It also plans to start the process of listing on the STAR Market. Founded in 2006, it is based in Beijing, China.
Sanzer New Materials raised hundreds of millions of yuan (CNY 100.0M is ~$14.5M) in pre-IPO financing led by Yongxin Capital and Everbright Group, joined by Hua Ventures and others. The company makes pressureless sintered silicon carbide structural ceramics. Its products include parts for semiconductor, display, and battery manufacturing equipment, along with a wide range of other industries. Funds will be used for production line construction. Founded in 2014, it is based in Nantong, China.
Zeta Tech drew nearly CNY 100.0M (~$14.5M) in Series A+ financing led by Addor Capital, with participation from Glory Ventures, Jinbang Capital, Enlight Growth Partners, and Meritco Services. Zeta Tech offers computer integrated manufacturing (CIM) software for data integration, big data analysis, yield management, and equipment utilization in semiconductor manufacturing and packaging. It also offers smart factory planning consultation services. Along with semiconductors, its products are applicable to display panel, photovoltaic, and lithium battery manufacturing. Funds will be used for R&D and hiring. Zeta Tech is also planning an IPO. Based in Shanghai, China, it was founded in 2017.
Gaopin Technology received new investment led by Chuanghe Xincai Fund. The company provides ultra-pure water preparation, waste process water treatment services, and water system equipment and maintenance for semiconductor and display manufacturing. Founded in 1999, it is based in Beijing, China.
Hashen Smart Materials Technology (HST) received Series B funding from Flyfot Ventures. The startup produces composite metal conductive ink materials and processes for flexible electronics printing, focusing on antennas and RFID. It uses silver-coated copper particles as conductive fillers in its RFID antennas, which it says improves weather resistance and service life. Based in Shenzhen, China, it was founded in 2019.
XLR8 EMS received equity investment from American Pacific Group. XLR8 is a contract manufacturer of printed circuit assemblies. It provides prototype and production assembly supporting commercial, AS:9100, ISO:13485, and ITAR customers in the aerospace and defense, medical, consumer, and industrial markets. Founded in 2013, it is based in San Clemente, California, USA.
Zhigu Seiko received angel funding. The startup makes polishing and precision machining equipment for a range of applications, including wafer polishing. Founded in 2017, it is based in Hangzhou, China.
ZRCOME drew Series A funding from Rising Investments. The company provides a range of equipment for processing and inspection of quartz mask blanks, optics, and displays. Its product range includes birefringent display defect inspection, atomic layer deposition, magnetron sputtering, magnetorheological finishing, and surface defect detection equipment. Founded in 2018, it is based in Chengdu, China.
SJ Semiconductor raised $340.0M in Series C+ financing from Legend Capital, Goldstone Investment, Jade Stone Venture, Shang Qi Capital, Leafoison Capital, TCL Capital, China Fortune-Innovation Capital, and GLP-C&D Capital, and existing shareholders Oriza Rivertown and Oriza Hua Capital. SJSemi is a 12-inch middle-end-of-line (MEOL) packaging foundry that specializes in advanced wafer bumping, 3D multi-die integration technology, wafer-level chip-scale packaging (WLCSP), wafer-level antenna-in-package, and testing. It offers a system-in-package platform for 3D heterogenous integration of active and passive devices that comprises Cu vertical interconnect, multi-layer double sided fine pitch RDLs, wafer-level multi-layer precise aligned antennas, flip-chip, and SMT. Founded in 2014, it is based in Jiangyin, China, and has raised over $1B.
Keyang Semiconductor (KYS) raised over CNY 500.0M (~$72.6M) in financing led by China Fortune-Tech Capital and Sunic Capital, joined by Caitong Innovation, CDH Investments, Clivia Capital, Soochow Venture Capital, and others. The company offers packaging and testing services, with a focus on through-silicon via (TSV) wafer-level packaging for CMOS image sensors (CIS), fingerprint recognition devices, and 5G filters. Funds will be used for construction of 12-inch production lines, expansion, operations, and R&D. Founded in 2013, it is based in Suzhou, China
AaltoSemi raised over CNY 500.0M (~$72.5M) in Series A1 financing led by CTC Capital, joined by SL Capital, Lanhor Capital, Teda Venture Capital, Summitview Capital, Gaorong Capital, Jiangbei New Area Development Fund, Xingrui Capital, and KQ Capital. AaltoSemi produces high-end IC packaging substrates, including BT, ABF, and embedded trace substrates for flip-chip chip-scale package and flip-chip BGA. Funds will be used for production line construction and R&D. Founded in 2021, it is based in Nanjing, China.
Techsense International received hundreds of millions of yuan (CNY 100.0M is ~$14.5M) in Series C funding from IDG Capital, Shang Qi Capital, Hudson Capital, Orient Securities Capital, Tianma Bearing Group, and Wuchan Zhongda Group. Techsense makes packaging and testing equipment. It offers ball mounting and integrated inspection/repair systems, flip-chip bonding, die sorters, automated optical inspection (AOI), substrate transfer equipment, AGV robots, and customized automation systems. Founded in 2013, it is based in Shanghai, China.
EMC Semi-Conductor Technology drew over CNY 100.0M (~$14.5M) in angel funding led by FutureX Capital, joined by Wuzhong Financial Holdings, Co-Win Ventures, and others. EMC manufactures multi-layer high-density glass fiber free substrates for semiconductor packaging. The startup says its coreless substrate improves plasticity and reliability while lowering costs. Its products include substrates for wire bond and flip-chip chip-scale packages (WB-CSP/FC-CSP); wire bond and flip-chip ball-grid array packages (WB-BGA/FC-BGA); system-level substrates for system-in-package, multi-chip modules, and chiplets; and an embedded substrate that can integrate active and passive components. Funds will be used in construction of a production line. Founded in 2022, it is based in Suzhou, China.
Royma Tech Precision received hundreds of millions of yuan (CNY 100.0M is ~$14.5M) in Series A+ financing from CPE Fund and Winking Investment. RoymaTek provides 3D computerized tomography (CT) and X-ray metrology equipment for non-destructive identification and measurement of internal defects in semiconductor, consumer electronics, new energy, automotive, and other industries. Funds will be used for production capacity expansion and R&D. Founded in 2017, it is based in Suzhou, China.
Semight Instruments raised hundreds of millions of yuan (CNY 100.0M is ~$14.5M) in Series C funding led by China Venture Capital and Yongxin Capital, joined by Haitong Innovation Capital, SND Financial Holdings, CAS Venture Capital, and others. Semight provides test equipment for optoelectronics, high-speed communications, and semiconductors. Its products include broadband sampling oscilloscope, high-speed bit error analyzer, network traffic tester, high-precision wavelength meter, spectrometer, general digital source meter, high-speed optoelectronic hybrid ATE, laser chip burn-in tester, silicon photonics wafer tester, power chip tester, and wafer burn-in tester. Founded in 2017, it is based in Suzhou, China.
Sincevision Technology, also known as SSZN, raised hundreds of millions of yuan (CNY 100.0M is ~$14.5M) in a Series C round from SDIC Fund and GL Ventures. Sincevision offers 3D laser profile measurement equipment for inspection of circuit boards, chip pins, smartphone assembly, lithium batteries, photovoltaics, and other applications. Its product lines include line lasers, point lasers, and point spectrum. The funding will be used for R&D, hiring, and the advancement of product lines. Based in Shenzhen, China, it was founded in 2014.
Yuweitek drew hundreds of millions of yuan (CNY 100.0M is ~$14.5M) in a Series B round led by Hefei Industry Investment Group, joined by Shanghai STVC Group, China Fortune-Tech Capital, ZJ Innopark, Novartis Capital, CoStone Capital, Sunic Capital, Royal Sea Capital, and others. Yuweitek offers optical inspection and metrology equipment for mask inspection, wafer inspection, and wafer overlay measurement. Funds will be used for new product development. Founded in 2019, it is based in Shanghai, China.
Delmic raised €4.0M (~$4.4M) in funding from Value Creation Capital and the European Investment Council. Delmic develops light and electron microscopy systems for observation at the nanoscale. Its systems are used for non-invasive/non-destructive semiconductor inspection, including for point and delocalized defects, depth-resolved studies, and buried structures, and to study the optoelectronic properties of compound semiconductors for LEDs. They can also be used to study optical properties of nanostructures and quantum materials, as well as other applications in materials research and life sciences. Delmic’s products include correlative light and electron microscopy, cathodoluminescence systems, ultra-fast multibeam electron microscopes, and cryogenic electron tomography systems. “This investment round allows us to scale our service, sales, and application activities, thereby rolling out our unique products to a wider audience,” said Sander den Hoedt, CEO at Delmic. Founded in 2011, it is based in Delft, the Netherlands.
DEEPerceptron (DPT) received tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series A financing led by Sinowisdom. The startup makes phase-shift structured light 3D cameras for defect inspection, 3D reconstruction, and positioning guidance. It targets photovoltaic, battery, consumer electronics, automobile, semiconductor, and other industries. Funds will be used to establish a production base. Founded in 2019, it is based in Suzhou, China.
Jiu Zong Intelligent Technology received tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series B+ financing. The company makes inspection equipment, with products covering automated optical inspection for wafers and packaged chips, LED packaging inspection, 3D measurement using structured light, 2D and 3D measurement of camera components, PCB inspection, and mobile phone assembly inspection. Founded in 2014, it is based in Ningbo, China.
V-Power Innovative Technology raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series A+ funding led by Aplus Capital. The startup makes optical communication test instruments. Its test systems cover a range of devices, including active optical modules, high-speed passive optical scanning systems, light sources, silicon photonics, optical switches, optical attenuators, and erbium-doped fiber amplifier (EDFA) modules. Funds will be used for R&D. Founded in 2018, it is based in Shenzhen, China.
DIVE Imaging Systems received €1.2M (~$1.3M) in funding from the German Federal Ministry for Economic Affairs and Climate (BMWK). DIVE develops hyperspectral vision systems for optical wafer inspection and measurement. The system uses visible light and invisible infrared thermal radiation in frequencies between 0.4 and 2.5 μm to illuminate silicon wafers and a hyperspectral camera that can distinguish up to 1,000 wavelengths to record the reflected light. AI is used to detect possible damage or contamination, as well as evaluate the quality of individual chips or the entire wafer. It can determine surface and layer homogeneity, thinness, evenness, or lack of defects. DIVE plans to expand to inspection in other industries and will work with Infineon to develop a hyperspectral system for laboratories beyond the clean room. A spin off from the Fraunhofer Institute for Material and Beam Technology IWS in 2023, it is based in Dresden, Germany.
Xuzhou B&C Chemical raised over CNY 600.0M (~$87.3M) in funding led by Zhongping Capital and China Development Bank Capital, joined by V Fund, New Hope Capital, Qingsong Fund, SIDVC, Qingfeng Capital, and others, adding to financing announced in March. The company produces mid-to-high-end ArF and KrF photoresists, I-line and G-line photoresists, and electron beam (e-beam) photoresists, as well as top anti-reflective coatings (TARC) and bottom anti-reflective coatings (BARC). It also offers raw materials including photoresist monomers, resins, and photoacids. Funds will be used for R&D and production capacity expansion. Founded in 2010, it is based in Pizhou, China.
Asens Technology raised CNY 250.0M (~$36.3M) in a Series B round that included Juntong Capital, CICC Capital, Guoxin Capital, and FTZ Fund. The company makes ArF photoresists for semiconductor manufacturing. Founded in 2019, it is based in Shanghai, China.
Cyclic Materials received $27.0M in Series A financing led by Energy Impact Partners and BMW i Ventures, with participation from Fifth Wall, Bioindustrial Innovation Canada, and Planetary Technologies. Cyclic Materials offers a process to recover critical rare earth elements from a diverse supply of end-of-life products containing hard-to-recycle magnetic waste. The resulting high-quality rare earths can then be reused in products such as EV traction motors, electronics, wind turbines, and consumer and industrial appliances. Its process also recycles copper, aluminum, steel, cobalt, and nickel. Funds will be used to scale up its technology and plan for global expansion. Founded in 2021, it is based in Kingston, Ontario, Canada.
Spectrum Materials drew CNY 100.0M (~$14.5M) in Series D funding from Tsinghua Holdings Capital, following on an investment announced in March. Spectrum Materials provides high purity electronic special gases and mixed gases used in manufacturing semiconductors, LEDs, LCDs, and photovoltaics. Funds will be used for R&D, construction of additional production capacity, and exploring new markets. Founded in 2009, it is based in Quanzhou, China.
Evolusia Semiconductor raised nearly CNY 100.0M (~$14.5M) in a Series A round led by Cowin Capital and Zhonghe Automobile Fund, joined by SIDVC, Shenzhen High-Tech Investment, Zheshang Venture Capital, and Vertex Ventures. Evolusia manufactures gallium oxide (Ga2O3) wafers using an iridium-free process. Gallium oxide is an ultra-wide bandgap semiconductor used for power devices. Funds will be used for R&D and hiring. Founded in 2021, it is based in Shenzhen, China.
Garen Semiconductor drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel funding led by BlueRun Ventures and joined by Yuquan Capital. GarenSemi makes single-crystal gallium oxide wafers and epitaxial wafers. Gallium oxide (Ga2O3) is an ultra-wide bandgap semiconductor that can be used for power semiconductors. It is currently making 1-inch and 2-inch wafers. Funds will be used for R&D and construction of pilot production lines. Founded in 2022, it is based in Hangzhou, China.
Hengyuan Photonics raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in pre-Series A financing from Shandong Industry Research Equity Investment Fund of Funds and Yuanchuang Duoying Qiaomengyuan Fund. The startup makes lithium niobate crystals. Lithium niobate has is used for optics, photonics, electro-optics, and acousto-optics, with applications in optical modulators and waveguides, surface acoustic wave filters, piezoelectric sensors, nonlinear optics, and holographic devices. Funds will be used for expansion and improvement of a large-scale production line capable of creating 8-inch crystals. Founded in 2021, it is based in Jinan, China.
Meta Ink New Materials drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel funding from Jinding Capital. Meta Ink makes electronic pastes for chip resistors, multiplayer ceramic capacitors (MLCC), tantalum capacitors, radio frequency devices, thick film integrated circuits, photovoltaics, semiconductor packaging, and other applications. Funds will be used for R&D, construction, and market expansion. Founded in 2022, it is based in Haining, China.
Shaanxi Yuteng Technology received tens of millions of yuan (CNY 10.0M is ~$1.5M) in pre-Series A funding from Shaanxi Venture Capital. The company manufactures gallium nitride (GaN) epitaxial wafers and thermal oxide silicon wafers. It also offers maintenance services and quartz, ceramic, and graphite parts for MOCVD reaction chambers. Funds will be used for R&D, production line expansion, and marketing. Founded in 2015, it is based in Xi’an, China.
NanoEMI received a venture investment of approximately €0.5M (~$0.6M). NanoEMI manufactures pure, high-quality graphene flakes and graphene composites for electromagnetic interference shielding of electronics. The startup says its composites block electromagnetic radiation by absorbing and deflecting incoming waves, with protection of up to 70 dB per 1 mm of sample thickness. Its graphene flakes can also be used in electronic applications, such as in the production of conductive inks, sensors, and batteries, as well as life sciences applications. Funds will be used to set up pilot routine production of graphene flakes and EMI composites. A spin off from the Warsaw University of Technology founded in 2015, it is based in Warsaw, Poland.
Bornsun Industrial drew new funding from BYD and Value Capital. The company offers thermal interface materials, electromagnetic shielding materials, and sealants for electronics, including LEDs, automotive, and consumer electronics. Founded in 2004, it is based in Beijing, China.
Yuxin Semiconductor (YXSC) received CNY 25.0M (~$3.6M) in strategic financing from memory maker Giantec Semiconductor. Yuxin Semiconductor makes storage and memory products, including PPI NAND, SPI NAND, embedded storage (eMMC/eMCP), DDR3/DDR4/LPDDR4X DRAM, and SSDs for applications including smartphones, tablets, PCs, and servers. It also offers linear voltage regulator chips and switching DC buck converters. Funds will be used for R&D, including of embedded memory hardware and firmware, enterprise-level SSD firmware, and multi-chip package (MCP) modules. Founded in 2019, it is based in Wuhan, China.
SENSilicon raised CNY 120.0M (~$17.5M) in a Series A round led by CoStone Capital, joined by Hefei Industry Investment Group, BlueRun Ventures, Cowin Capital, Shenzhen Venture Capital, and Dalton Venture. SENSilicon develops mid-to-high-end analog and mixed-signal chips, with a particular focus on precision signal chain ICs. It has released several analog front end chips targeting geophysical and energy exploration, with plans to expand into industrial automation, medical equipment, and semiconductor equipment. Funds will be used to accelerate new product development and expansion in the Industry 4.0 and new energy markets. Founded in 2020, it is based in Shenzhen, China.
Corelink Technology received hundreds of millions of yuan (CNY 100.0M is ~$14.5M) in Series B financing from China Merchants Capital, Oriental Fortune Capital, and Huaqiang Venture Capital. Corelink offers analog and mixed-signal signal chain and clock chips. Its product lineup includes high-precision ADC and DAC, voltage reference source, clock generator, clock buffer, operational amplifiers, Ethernet PHYs, and high-speed SerDes. Funds will be used for R&D, hiring, and to expand its product range. Founded in 2018, it is based in Beijing, China.
Madeit Semiconductor drew over CNY 10.0M (~$1.5M) in funding from the Ningbo Angel Fund and others. The startup provides a range of RF, mixed signal, and power semiconductor chips, including ultra-wideband SoCs, battery management ICs, LED drivers, ADCs, isolators, power switch ICs, motor drivers, RF front-end power amplifiers, and transceivers. Founded in 2021, it is based in Ningbo, China.
EdgeQ raised $75.0M in Series B funding from Phaistos Investment Fund, the UAE’s Strategic Development Fund, EDBI, Irongrey, ST Engineering, Yaletown Partners, ClearSky, and other existing investors. EdgeQ has developed a wireless infrastructure to unify both 4G and 5G onto a single chip that can elastically scale in performance and features via software upgrades. Its 4G+5G+AI “Base Station-on-a-Chip” for O-RAN Distributed Unit (DU) and small cells combines both RISC-V and ARM architectures, NPU, and production grade 4G/5G PHY layer in an SoC the startup says can replace an entire rack of complex and high-performance base station communications equipment. It targets network operators, cloud service providers, and enterprises deploying both public and private 5G and O-RAN networks for applications ranging from Industry 4.0 to automotive. “By removing the friction and price premium that traditionally accompanies cellular deployment, we have envisioned a new backbone that is simple, intuitive, and open,” said Vinay Ravuri, CEO and co-founder of EdgeQ. Funds will be used to ramp production and develop its next generation chip. Additionally, Lattice Semiconductor CEO and president Jim Anderson joined the EdgeQ board of directors. Founded in 2018, it is based in Santa Clara, California, USA.
3D Glass Solutions (3DGS) closed a $30.0M Series C round led by Walden Catalyst Ventures, with participation from existing investors including Intel Capital and Lockheed Martin Ventures, as well as new investors Applied Ventures, Cambium Capital, and Mesh Cooperative Ventures. The company develops glass ceramic-based three-dimensional passive radio frequency (RF) devices for use in 5G and wireless, automotive, military and defense, and big data applications. 3DGS says its process produces low RF material loss to minimize power consumption and provide high-performance integration for advanced electronics systems, resulting in passive components with optimized electrical performance and ultra-low transmission loss at high frequencies ranging from 1 to 200 GHz. It also touts intermediate coefficient of thermal expansion to minimize in-process and final product warp, precise 3D structuring of Through Glass Vias for input and output signals, and a smooth surface that enables fine-line metallization to achieve high interconnect density. “This latest round will be used to increase our production wafer capacity and accelerate our product roadmap to support 3D Heterogeneous Integration solutions for RF and data center markets,” said Babu Mandava, president and CEO of 3DGS. Additionally, Walden International chair Lip-Bu Tan will join 3DGS’ Board of Directors. Founded in 2006, it is based in Albuquerque, New Mexico, USA.
Forefront RF raised £6.7M (~$8.4M) in new funding from BGF, Science Creates Ventures, and Foresight WAE Technology. Forefront RF has developed a chip that enables connected devices to operate across the 3G to 6G frequency bands, replacing a bank of switched SAW and BAW crystal RF filters with a low cost, tunable RF circuit. This Adaptive Passive Cancellation (APC) technology uses embedded software to maintain the accuracy of passive self-interference cancellation circuits, which Forefront RF says enables a device to pick up weak signals while transmitting at full power. The startup says its technology reduces the space and cost taken by the RF front end in smartphones, wearables, and IoT devices. It is launching a fully tunable duplexer demonstrator designed for the 600–1,000MHz bands to show suitability for 4G and 5G standards. A spin out from the University of Bristol founded in 2020, it is based in Cambridge, UK.
LeapWave Technologies raised seed funding led by Bullnet Capital. LeapWave combines radio frequency, photonics, and electronics to create technology for high-bandwidth interconnections, as well as probes for the characterization and inspection of high-frequency electronic devices. LeapWave is developing a new type of waveguide capable of continuous operation over a wide range of frequencies, enabling it to act as a general-purpose connector for electronic equipment operating in the microwave, millimeter wave, and submillimeter wave frequency bands. It is also working on hybrid assembly and packaging of photonics and RF interconnects. Funds will be used to accelerate development to bring the waveguide to market. Founded in 2022, it is based in Leganés, Spain.
Longsailing Semiconductor drew Series A funding led by Yuexiu Industrial Fund and Vertex Ventures, joined by V Fund and others. Longsailing develops short-range edge wireless chips, including for Wi-Fi routers, access points, and small cells. Based in Shenzhen, China, it was founded in 2021.
SDSX received Series C financing from ShanJin Capital, Huaxi Securities, and Vista Investment. SDSX designs RF and power chips for communications. Its products include gallium arsenide (GaAs) and gallium nitride (GaN) power amplifiers and low noise amplifiers for 5G/6G base stations, consumer electronics, IoT, and automotive. It also offers Wi-Fi 6 RF front-end chips. Funds will be used for R&D, product iteration, and marketing. Based in Shenzhen, China, it was founded in 2017.
Wuqi Microelectronics received strategic financing from China Mobile Equity Fund. Wuqi provides short-range communications chips. Its primary focus is Wi-Fi, and it currently offers a 1×1 dual-band concurrent Wi-Fi 6 SoC based on RISC-V. It expects to release Wi-Fi 6 2×2, 4×4, and access point chips in the near future. The startup also offers Bluetooth audio, broadband power-line communication, and 3D facial and voice recognition SoCs. Applications include IoT, consumer electronics, smart grid, and network equipment. Funds will be used to accelerate development of additional Wi-Fi 6 chips and research for Wi-Fi 7 chips. Founded in 2016, it is based in Shanghai, China.
Sichain Semiconductor raised hundreds of millions of yuan (CNY 100.0M is ~$14.5M) in Series A+ financing led by Nio Capital, Silan Microelectronics, and Walden International, joined by GL Ventures and power semi maker Macmic. Sichain specializes in silicon carbide (SiC) power chips. Its products include 1200V SiC MOSFETs and SBDs as well as 15V SiC MOSFETs. It targets electric vehicle, photovoltaic, and energy storage applications. Funds will be used bolster its supply chain, build a mass production facility, and hire. Founded in 2021, it is based in Shanghai, China.
SiEn Integrated Circuits received new funding from Qingdao State-owned Assets and Yunlian Information Technology. The company operates as a communal integrated device manufacturer (CIDM) primarily producing power semiconductors, including MOSFET, IGBT, and BCD devices. SiEn also offers photomask manufacturing and consulting, including binary masks, optical proximity correction (OPC) masks, and phase shift masks (PSM) from 0.5μm to 28nm. Founded in 2018, it is based in Qingdao, China.
Sirius Semiconductor drew Series B financing from Ruiyue Investment. The fabless startup designs power semiconductors, including automotive grade trench/SGT MOSFETs, IGBT/FRDs, GaN HEMTs, SiC diodes and MOSFETs, and power management ICs for automotive electronics, industrial control, photovoltaic/energy storage, charging piles, industrial power supplies, and other markets. Based in Shenzhen, China, it was founded in 2020.
Trimitec, also known as Yanhuang Guoxin, raised Series A++ funding from Jiuzhi Capital. The company makes power management chips for high-reliability industries, with a particular focus on aerospace. Its products include rad-hard DC/DC and ultra-low noise LDO. It intends to expand to areas such as electric vehicles, power grids, photovoltaics, and commercial aerospace. Funds will be used for hiring and expansion. It also plans to work toward a public listing. Based in Beijing, China, it was founded in 2016.
Liobate Technologies raised hundreds of millions of yuan (CNY 100.0M is ~$14.5M) in Series A funding led by CoStone Capital, joined by Vinno Capital, Addor Capital, Zijin Hi-tech Venture Capital, Reiter Capital, Nanjing Venture Capital, and Chenfeng Huichuang Capital. Liobate develops thin-film lithium niobate (TFLN) modulator photonic integrated circuits (PICs) and related optical communications and interconnect sub-assemblies. The startup says TFLN outperforms existing PIC material platforms in terms of insertion loss, optical and electrical bandwidths, electro-optical modulation efficiency, and power consumption. It supports high-density photonic integration of various passive devices, including ultra-low loss optical waveguides, high-quality micro-resonators, low-loss optical Bragg grating waveguides, 3 dB optical beam splitters, wavelength multiplexers/de-multiplexers, and polarization handling devices. It also enables fabrication of monolithically integrated passive devices with multi-channel high-speed EO modulators. Applications include optical communications, data center interconnects, integrated optical sensors, and test instruments. Liobate’s business spans chip design, fabrication, packaging, and testing. Funds will be used for construction of a 6-inch TFLN chip mass production line, which is expected to be completed this year. Founded in 2020, it is based in Nanjing, China.
Lekin Semiconductor drew nearly CNY 100.0M (~$14.5M) in Series A funding led by Zhongxin Capital. Lekin manufactures optoelectronic compound semiconductor devices, including high efficiency ultraviolet LEDs, infrared VCSELs, and automotive LEDs. Founded in 2021 with the acquisition of LG’s optoelectronic compound semiconductor business, it is based in Suzhou, China.
Lumispot Optoelectronics drew nearly CNY 100.0M (~$14.5M) in pre-Series B financing from Fortune Capital. The company makes laser light sources, including high-power and high-speed semiconductor laser drive circuits, fiber lasers, and solid-state lasers. Funds will be used for R&D. Founded in 2017, it is based in Suzhou, China.
Raysees Technology drew nearly CNY 100.0M (~$14.5M) in Series B1 financing from Chery Automobile, CoStone Capital, Nanshan SEI Investment, and Ivy Capital. Raysees produces vertical-cavity surface-emitting lasers (VCSEL) as well as LED and custom light sources for applications such as ADAS, facial recognition, surveillance, 3D scanning, robot vacuums, and specialized lighting. The company also offers optical lens integration, component-level packaging, and optimization of photo-electronic systems. Funds will be used for mass production, as well as further expansion in the automotive, smart sensing, and medical markets. Based in Shenzhen, China, it was founded in 2018.
New Origin received €6.0M (~$6.6M) in funding from PhotonDelta. New Origin is building a photonics foundry that will produce silicon nitride chips. “Many companies want to experiment with or integrate photonics into their products, however, this can be very difficult due to the cost and complexity of producing chips. Our foundry will significantly lower the bar to entry, facilitating more innovation and help the European photonics industry to grow,” said Guus Rijnders, scientific director of MESA+ NanoLab at University of Twente. Insights gained from the new foundry will be used in creation of large-scale production facilities. A spin out of University of Twente owned by University of Twente Holding, it was created in 2023 and is based in Enschede, the Netherlands.
Vector Photonics was awarded a £1.0M (~$1.2M) grant from Innovate UK and the UK Innovation & Science Seed Fund. Vector Photonics produces photonic crystal surface emitting lasers (PCSELs) based on III-V semiconductors. The startup says its PCSELs, which utilize a 2D grating structure that scatters light linearly and orthogonally, offer benefits over existing laser technology and are easy to package and incorporate into PCBs and electronic assemblies. It has an initial focus on data center applications and plans to later expand to additive manufacturing, lidar, and optical sensing. The funds will be used for commercialization of 1 Watt, all-semiconductor PCSELs for AI applications. “The full impact of a 1 Watt PCSEL on AI chip design is not yet quantified, as the entire architecture of the chips and systems will change, but it brings countless manufacturing and energy saving benefits. Power consumption, heat and latency are reduced; the PCSEL’s symmetrical far-field requires less operational power for equivalent performance, so a further power reduction can be expected here; and the vastly reduced laser count per chip makes manufacture simpler and the chip smaller, which will undoubtedly improve yield and reliability,” said Richard Taylor, CTO of Vector Photonics. Founded in 2020 as a spin out from the University of Glasgow, it is based in Glasgow, UK.
Riverlane raised £15.0M (~$18.7M) in Series B funding led by Molten Ventures, with participation from simulation and HPC software company Altair and returning investors Cambridge Innovation Capital, Amadeus Capital Partners, and the National Security Strategic Investment Fund. Riverlane is developing hardware and software for error-corrected quantum computing. Applicable to various qubit types, its quantum operating system constructs error-free logical qubits from many unstable physical qubits and detects errors that affect the physical qubits as they occur. Customizable control software generates high accuracy, high-speed pulse sequences to control qubits using off-the-shelf hardware, while the scalable high-speed decoder enables errors to be detected, diagnosed, and corrected in real time while supporting a large number of qubits. By the end of 2025, Riverlane will develop the error decoder solution into a chip-based decoder that can process up to 100TB of data per second and support a trillion error-free quantum operations. The funds will be used to accelerate development and are expected to see the company through to cash flow break-even. Altair CEO and founder James Scapa will join board. Founded in 2016, it is based in Cambridge, UK.
Quantum Source raised $12.0M in a seed extension round led by Dell Technologies Capital with participation from 10D as well as existing investors Eclipse VC, Grove Ventures, and Pitango First. Quantum Source is developing large-scale error-corrected photonic quantum computers with the aim of creating systems that can scale to millions of qubits. The startup says it has developed an approach using cavity quantum electrodynamics (cavity-QED) for generating photons and quantum gates that is five orders of magnitude more efficient than current implementations. The system also operates at room temperature. “We founded Quantum Source with the belief that photonic quantum technologies are the best route to achieve large-scale, fault-tolerant quantum computers. Our unique approach will dramatically improve the scalability of those machines and will be the key to commercial success of quantum computers,” said Oded Melamed, co-founder and CEO of Quantum Source. Funds will be used to expand the R&D team. Founded in 2021, it is based in Rehovot, Israel.
Agnostiq raised $6.1M in seed extension funding led by Differential Ventures, with participation from Scout Ventures, Tensility Venture Partners, Green Egg Ventures, and individual investor Rob Granieri. Agnostiq provides a workflow orchestration platform for quantum, high-performance computing, and hybrid resources. The open-source platform, Covalent, is designed to unify access to cloud and on-premise HPC resources and reduce the cost and operational complexity of heterogeneous workflows that combine classical computing with quantum. “The funding will support the development of Covalent Cloud, our commercial offering of Covalent, and will provide valuable support to the open-source offering of Covalent,” said Oktay Goktas, CEO of Agnostiq. Founded in 2018, it is based in Toronto, Ontario, Canada.
Silicon Extreme received a CNY 15.0M (~$2.2M) strategic investment from C*Core Technology. Silicon Extreme is developing optical quantum security solutions, including quantum key distribution, entropy source, and random number generators based on its quantum light source that supports the generation of high-dimensional multi-channel entangled photon pairs. It is also developing a photonic quantum processor and control system. The two companies have collaborated on a quantum encryption card. Founded in 2020, it is based in Hefei, China.
QUANTier received funding from ParticleX and the Hong Kong University of Science and Technology Entrepreneurship Fund. QUANTier is developing quantum processing units based on laser-controlled neutral atoms. It says its technology creates naturally identical qubits with longer coherence times and the ability to operate at room temperature. It is targeting universities and medium-sized businesses that prioritize quality qubits over speed. Founded in 2022 as a spin off from HKUST, it is based in Hong Kong.
PreAct Technologies added $6.0M to its Series B round led by I Squared Capital, joined by State Farm Ventures, Luminate, Traylor Capital, and other new and existing investors, bringing the round originally announced in January to $20.0M. PreAct develops near-field software-definable flash lidar technology. The lidar sensor is based on continuous wave time of flight (CWToF) technology with sample rates up to 150 fps and integrated with a high-resolution RGB camera. Its product range includes high performance, low power, and low cost models. The sensor is paired with an SDK for integration with existing software stacks and other systems, as well as an AI algorithm development platform from its acquisition of Gestoos. Initially focused on automotive pre-crash detection, the company is expanding to other markets such as robotics, agriculture, and healthcare. Founded in 2018, it is based in Portland, Oregon, USA.
GreenValley Technology drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in funding from Zongheng Rongtong. The company makes mechanical lidar systems and point cloud analysis software for drones, vehicles, and backpacks. It targets applications such as terrain mapping, infrastructure inspection, smart city, agriculture and forestry, and unmanned driving. Founded in 2012, it is based in Beijing, China.
West Lake Intelligent Vision received tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel funding led by CasStar, joined by West Lake Innovation and West Lake Science and Technology Venture Capital. The startup combines computational imaging and AI to develop high-speed, hyperspectral, and three-dimensional intelligent vision imaging systems. Founded in 2022, it is based in Hangzhou, China.
Micro Innovation Integrated Circuit, also known as Muchuang Integrated Circuit Design, drew hundreds of millions of yuan (CNY 100.0M is ~$14.5M) in Series A2 funding from Jucheng Capital, Wuxi Capital, Oriza Holdings, Leaguer Capital, and Grit Ventures. The company offers two primary product lines, reconfigurable cryptographic security chips and intelligent network controller chips. Its security chips support a range of algorithms and cover applications including data center, network edge, and IoT devices. Its network controller products currently cover 1G/10G/25G/40Gbps transmission rates and integrate security functions including transparent encryption and link encryption. Funds will be used for R&D and production of 200G and 400G network controller chips. Based in Wuxi, China, it was founded in 2018 based on research from Tsinghua University.
Keydom drew over CNY 100.0M (~$14.5M) in Series C financing from CCB International, Sichuan Digital Economy Fund, and others. Keydom develops secure mobile payment NFC chips, smart card chips, and point-of-sale terminals. Founded in 2011, it is based in Chengdu, China.
SandGrain raised €1.3M (~$1.4M) in seed funding from DeepTechXL. SandGrain offers security ICs with a unique, immutable hard-coded identity written at the wafer level for trusted authentication of IoT devices, along with a centralized cloud platform that guarantees and manages the IoT node identities. The solution enables system owners to verify the system configuration at any time and gives control over the lifecycle status of every identified module throughout its entire lifetime up to end-of-life for proper recyclability. The solution will be first available as a miniature 8-pin packaged ICs for board-level applications, followed by RFID compatible solutions. Eventually the IC will be able to be integrated in a multi-chip package or as an IP block in a larger IC. Founded in 2019, it is based in Eindhoven, the Netherlands.
Mojo Vision raised $22.4M in Series A funding led by New Enterprise Associates and Khosla Ventures, with participation from investors including Dolby Family Ventures, Liberty Global Ventures, Fusion Fund, Open Field Capital, Edge VC, and company chairman Drew Perkins. Mojo Vision is developing high-performance microLED technology to create dynamic displays with up to 28,000 pixels per inch and high brightness. The technology combines high efficiency quantum dot ink and a display system that incorporates an optimized CMOS backplane, wafer-to-wafer bonding, and custom micro-lens optics using a high-volume manufacturing process based on 300mm gallium nitride on silicon (GaN-on-Si). Applications include AR/VR, automotive, light field display, and large format displays. Previously, the company was working on a smart contact lens, and is now decelerating its development to focus on commercializing the microLED technology behind it. “This round of funding will enable us to deliver our breakthrough monolithic micro-LED technology to customers and help bring high-performance micro-LEDs to market,” said Nikhil Balram, CEO of Mojo Vision. Founded in 2015, it is based in Saratoga, California, USA.
GravityXR raised hundreds of millions of yuan (CNY 100.0M is ~$14.5M) in pre-Series A+ funding from consumer electronics company Goertek’s Tongge Fund, VR headset maker Pico Interactive, gaming companies HoYoverse and 37 Interactive Entertainment, Eastern Bell Capital, Eight Roads Capital, Vipassana Fund, and others. GravityXR specializes in chips for extended reality (XR) devices, which encompasses AR, VR, and MR. Its first-generation co-processing chip is focused on reducing the real-time rendering load and thus power consumption of VR headsets, reducing delay-induced dizziness effects through a low latency pipeline architecture, sensor data processing, and digital correction of the display content. It expects the first generation of chips to begin mass production in 2024. Funds will be used for hiring, tape out, and development of its next generation chip. Based in Ningbo, China, it was founded in 2021.
Rokid drew CNY 100.0M (~$14.5M) in new funding from Yujiang District Industrial Investment Group. The company produces AR/XR glasses for industrial and commercial markets, including an explosion-proof AR headband compatible with safety helmets. Other areas it targets include training and virtual exhibits. The company also offers AR sunglasses that dock with a smartphone for the consumer market. Based in Hangzhou, China, it was founded in 2014.
Imagia raised $4.5M in seed funding led by Gates Frontier, joined by MetaVC Partners and others. Imagia has developed a metalens technology that can shrink an entire optical assembly into a planar, thin device. The approach allows the company to precisely pattern nanoscale structures directly onto various substrates, creating completely flat metalenses that steer light waves without the need for traditional curved lenses. The lenses can be square or round and can be made as small as a single pixel on a digital display. They can also be built directly on top of CMOS devices like LEDs and image sensors in the same fabrication flow, eliminating several critical steps of opto-mechanical alignment. Currently at the prototype stage, Imagia says its metalens technology has demonstrated an overall reduction in optical system volume by >90% in a variety of applications including AR glasses and holographic displays. It also plans to expand into image sensing lens design. Funds will be used to accelerate development and initial commercial deployment of the company’s first generation of flat, silicon-based optical lenses. Founded in 2019, it is based in Fremont, California, USA.
SenseGlove received €3.3M (~$3.6M) in Series A funding led by Lumaux. SenseGlove makes haptic gloves for virtual and augmented reality. The gloves allow users to interact with objects in VR and train muscle memory by providing the feeling of size, stiffness, and impact of virtual objects using a combination of force and vibrotactile feedback. It targets a range of industries, including manufacturing, healthcare, and education. Funds will be used to advance the haptics technology of its current glove, develop new hand haptic products, and expand into the United States. Founded in 2015, it is based in Delft, the Netherlands.
Varjo drew approximately €3.0M (~$3.3M) in secondaries financing from Nordic Secondary Fund. Varjo makes VR/XR hardware and software for professional and enterprise applications, such as training pilots and plant operators, product design, and research. The company claims its headsets can provide human-eye resolution with a wide field of view and can include hand tracking and lidar for mixed reality. Founded in 2016, it is based in Helsinki, Finland.
Green Guardee Technology received tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series A financing from CASVC, Levima Advanced Materials Corporation, and others. Green Guardee develops photoelectric conversion materials for OLED displays, with products including light-emitting materials and charge generation layer materials. It is also developing perovskite photovoltaic materials and semiconductor lithography materials. Funds will be used for R&D, production capacity improvement, and market expansion. Founded in 2010, it is based in Beijing, China.
ImageTru3D raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in pre-Series A funding. The startup develops light field display technology. It offers 3D stereoscopic displays of up to 65 inches with up to a 100° viewing angle. It primarily targets areas such as advertising, exhibitions, public information displays, and education. Funds will be used for R&D, factory construction, and marketing. Founded in 2017, it is based in Shenzhen, China.
KT&T Technology received new funding from Zomax Transmission. The startup makes direct-emission silicon-based OLED microdisplays for XR devices. It says its technology enables high brightness, high pixel density, low power displays. Founded in 2020, it is based in Taizhou, China.
Ming Chuang Intelligent raised Series B financing from Shenzhen High-tech Investment. The company makes laser processing equipment for displays and screens, including TFT-LCD, OLED, sapphire, glass, ceramics, silicon, silicon carbide, and other materials. Its product lineup includes laser cutting, laser marking, automatic optical inspection, and LCD surface plasma cleaning equipment. It also supplies equipment for PCBs. Founded in 2019, it is based in Shenzhen, China.
Leekr Technology raised CNY 400.0M (~$58.2M) in a Series B round led by CAS Investment and Leaguer Capital, joined by BAIC Capital, Longding Investment, Vision Capital, FTZ Fund, HI Transformational Fund, Unity Ventures, Hozon Auto, and others. Leekr Technology is developing chassis-by-wire platforms for electric autonomous vehicles. Its initial products are brake-by-wire systems for automated emergency braking, which also include regenerative braking capabilities for electric vehicles. It plans to expand to steering-by-wire, chassis domain controllers, and integrated chassis systems. Based in Shanghai, China, it was founded in 2020.
Global Technology drew nearly CNY 400.0M (~$58.1M) in Series C financing from CICC Capital, Shenzhen Investment Holdings, Tsinghua Research Capital, Guosen H&S, Xin Ding Capital, and others. Global Technology develops brake-by-wire systems that support ADAS functions, L3-L5 active breaking control, and regenerative braking. It also offers a chassis domain controller. Founded in 2016, it is based in Shanghai, China.
BIBO Automotive Electronics received CNY 200.0M (~$29.1M) in Series A financing led by Nio Capital and Orient Jiafu Asset Management, joined by Addor Capital, Atom Ventures, Innoangel Fund, and CWB Automotive Electronics. BIBO develops intelligent wire-controlled chassis products, including brake-by-wire, electric redundant steering systems, and chassis domain controllers. Funds will be used for brake-by-wire product launch and R&D. Founded in 2021, it is based in Beijing, China.
Sinpro Intelligent Technology drew hundreds of millions of yuan (CNY 100.0M is ~$14.5M) in Series A funding led by Nio Capital and Xiaomi. Sinpro develops automotive perception solutions suitable for L3 and above, including 4D imaging radar with a 120° horizontal field of view and detection range of over 300 meters. It also provides sensor software, AI algorithms, simultaneous localization and mapping (SLAM) using radar, and sensor fusion. Funds will be used for radar mass production and R&D. Founded in 2021, it is based in Shanghai, China.
Muye Microelectronics (Muyewei) raised CNY 100.0M (~$14.5M) in a pre-Series A round from 5Y Capital, Redpoint China Ventures, Co-win Ventures, and Yiling Capital. The startup makes 4D millimeter wave imaging radar chips for automotive applications. Muyewei says its solution can detect and distinguish different objects up to a distance of 300 meters. Funds will be used for productization and initial customer delivery. Founded in 2021, it is based in Shenzhen, China.
ZD Automotive drew CNY 100.0M (~$14.5M) in Series A financing from China Merchants Capital, Beidou Capital, and Lanqi Investment. ZD Automotive makes hardware test platforms and accompanying software for testing automotive networks, including bus interfaces, automotive Ethernet, and smart cockpits. It also provides simulation platforms for V2X communications and autonomous driving testing and development. Additionally, the company offers software and hardware testing and development services. Funds will be used for R&D. Founded in 2012, it is based in Großmehring, Germany.
Tianmou Optoelectronics received nearly CNY 100.0M (~$14.5M) in a pre-Series A round led by Tongxin Capital. The company makes mechanical lidar systems, primarily for automotive. It plans to invest in development of chips, solid-state lidar, and AI perception algorithms. Funds will also be used for the construction of mechanical lidar production lines. Founded in 2019, it is based in Wuhan, China.
Trensor raised nearly CNY 100.0M (~$14.5M) in Series C funding led by Blue Lake Capital. The company makes pressure sensors and integrated temperature-pressure sensors for automotive and industrial applications. It uses a combination of MEMS, thick film, sputtered thin film, and SOI micro-melting technology to provide sensors ranging from vacuum and micro pressures to ultra-high pressures in excess of 30,000psi. Its product range covers a wide range of vehicle systems with ASICs tuned specifically for the application. Funds will be used for production capacity expansion. Founded in 2009, it is based in Wuxi, China.
May Mobility received a $3.0M grant from the Michigan Strategic Fund. May Mobility operates autonomous shuttle services that have been deployed in cities as well as corporate and university campuses. Its system combines lidar, radar, and cameras with its ‘Multi-Policy Decision Making’ technology for simulating the behavior of other road users. Founded in 2017, it is based in Ann Arbor, Michigan, USA.
MZJ Sensor received tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel funding from Northern Light Venture Capital. The startup makes high-precision, high-pressure automotive pressure sensor chips. Funds will be used for development of new sensor products and the establishment of mass production lines. Founded in 2022, it is based in Changzhou, China.
Risenlighten drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel funding from TusStar Venture Capital, MiraclePlus, and C&I Capital. The startup is developing autonomous driving simulation software that uses reinforcement learning to train and test AI models. Funds will be used for R&D and operations. Founded in 2022, it is based in Beijing, China.
Rock-AI Technology received tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series A funding led by Shanda Capital with participation from Zhongguancun Development Group. Rock-AI provides unmanned driving solutions for mining trucks and equipment. It combines real-time high-precision positioning, 5G communications, equipment health management systems, centralized control, and safety systems for scenarios including autonomous loading, site navigation, docking, and unloading. Founded in 2020, it is based in Beijing, China.
Yunchuang Zhixing drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in a Series A round led by Nio Capital, joined by Xinghang Venture Capital and Yongzhi Investment. The startup makes small self-driving street cleaning and sanitation robots. Funds will be used for R&D, mass production, and expansion into other types of vehicles. Founded in 2021, it is based in Suzhou, China.
ComfortUni received nearly CNY 10.0M (~$1.5M) in pre-Series A financing from Bosch’s Boyuan Capital. ComfortUni offers a platform for management of vehicle thermal control systems. The platform comprises a hardware thermal domain controller and electric compressor controller, software, and embedded systems. Along with cabin temperature and air conditioning, it also focuses on thermal management of batteries in EVs. Funds will be used for product development, hiring, and business expansion. Founded in 2017, it is based in Shanghai, China.
Vehinfo Technologies received nearly CNY 10.0M (~$1.5M) in pre-Series A funding. Vehinfo provides hardware-in-the-loop (HIL) testing equipment and services for automotive electronic, electrical, and communications systems. It also offers E/E architecture development and a cloud platform for test data. Founded in 2016, it is based in Shanghai, China.
Baraja received a strategic investment from industrial vehicle manufacturer Oshkosh Corporation. Baraja makes a solid-state automotive lidar system that combines per-point Doppler capability at the hardware level with a Random Modulation Continuous Wave (RMCW) ranging method. Instead of rotating lasers or moving mirrors, the technology uses prism-like optics and wavelength-tunable lasers. Rapidly switching the laser’s wavelength and transmitting light through the optics diffracts each color of light in a different direction, a method the startup says provides high performance, accuracy, and reliability at range and speed while also enabling operation in harsh environments. Founded in 2015, it is based in Sydney, Australia.
Ecar Tech, also known as Eka Smart Car, received strategic financing from smart city company eGova. The startup develops L4 autonomous driving platforms and wire-controlled skateboard-style chassis for low-speed urban applications such as delivery, mobile kiosks, sanitation, and security. Based in Shanghai, China, it was founded in 2018.
Konvery Data drew new funding from Plug and Play and Estar Capital. The startup provides automated data labeling services for training autonomous driving models. Founded in 2022, it is based in Beijing, China.
Also of note: Hyundai Motor and Kia are pumping a combined 1.05T won (~$787.0M) into Hyundai subsidiary 42dot, which develops self-driving technology and offers a ride hailing app with different autonomous vehicle options depending on the vehicle type and the number of passengers.
Libode New Material received CNY 2,578.0M (~$375.2M) in Series B funding from CD Capital, GEM Group, Xiangyu Group, Farasis Energy, GAC Capital, Leaguer Capital, Nanyue Fund, CITIC Capital, and CICC Capital, Sichuan Province and Yibin City State-owned Assets, Tianyuan Group, Thriving Capital, Royalpower Investment, and others. The company makes cathode materials and precursors for lithium-ion and sodium-ion batteries, including ultra-high nickel and low-cobalt materials, cobalt-free low-nickel and manganese-rich high-voltage materials, and low-cost sodium-ion battery cathode materials. The funds will support acceleration of an IPO. Founded in 2017, it is based in Yibin, China.
Rongke Power raised over CNY 1,000.0M (~$145.6M) in a Series B round led by Legend Capital, joined by Dalian Financial Investment, Rongtuo Capital Management, and others. The company manufactures all-vanadium redox flow batteries for medium- and long-term energy storage, grid stabilization, and micro-grids. The company says its systems are intrinsically safe with a long lifetime. Funds will be used for production capacity expansion and R&D. Founded in 2008, it is based in Dalian, China.
Energy Exploration Technologies (EnergyX) received $50.0M in Series B funding led by General Motors’ GM Ventures. EnergyX has developed a method for lithium separation and processing mechanisms that incorporates mixed matrix membranes and electrodialysis to improve lithium recovery while reducing cost. The process can make lithium metal directly from brine and potentially in anode-ready form for EV batteries. The company is also developing solid state lithium metal batteries, which could provide increased energy density, longer cycle life, and fast charging times. GM also entered into a strategic agreement to support commercialization of EnergyX’s lithium extraction and refinery technology to boost EV production. Based in San Juan, Puerto Rico, USA, it was founded in 2018.
E-magy raised €20.5M (~$22.4M) in a combination of Series A financing from aluminum and energy company Norsk Hydro, Invest-NL, Rubio Impact Ventures, and existing investors SHIFT Invest and PDENH, along with a subsidy from the Dutch National Growth Fund program Nxtgen Hightech. E-magy produces a nano-porous silicon anode material for lithium-ion batteries. The nanoscale porous structure prevents batteries from swelling and breaking completely by containing the swelling within the nanopores. The startup also says it delivers 40% higher energy density and enables faster charging than existing graphite solutions. The material uses low-cost metallurgical-grade silicon and is compatible with existing lithium-ion battery manufacturing processes and installed factory equipment. “E-magy’s innovative material emits up to six times less carbon dioxide in production of the material. It will enable the battery of an electric vehicle to be lighter and smaller, reducing weight of the car, reducing energy usage, and reducing emissions associated with the energy production to charge the car,” said Helmer Schukken, managing partner at Rubio Impact Ventures. Funds will be used to prepare for industrial-scale production. Founded in 2020, it is based in Broek op Langedijk, the Netherlands.
Novalith Technologies received AU$23.0M (~$15.4M) in Series A funding led by Lowercarbon Capital, with participation from the Clean Energy Finance Corporation, Grantham Environmental Trusts, TDK Ventures, and Investible. Novalith has developed a process for hard-rock lithium extraction and refining. The process uses carbonated water to extract the lithium directly as battery grade lithium carbonate and leaves a byproduct of inert, CO2-infused rock. The startup says the approach uses less equipment, chemical reagents, water, and energy. Funds will be used to scale up and commercialize the technology, including a new pilot facility. Founded in 2020, it is based in Sydney, Australia.
Sanyi High-Tech Graphite New Material drew over CNY 100.0M (~$14.5M) in financing from Yonghua Capital, Capitech, and others. The company makes square graphite sagger crucibles for graphitization of lithium-ion battery anodes. Funds will be used for R&D and capacity expansion. Founded in 2018, it is based in Baoji, China.
Allotrope Energy raised up to $6.7M in strategic financing from Suzano Ventures, the venture arm of hardwood pulp producer Suzano. Allotrope Energy develops high-rate carbon-based materials for ultra-fast charging lithium-carbon and lithium-ion capacitor batteries. The company claims its batteries can reach full charge in similar time to fueling an internal combustion engine vehicle, without the safety hazards associated with other lithium-ion technologies. Carbon for Allotrope Energy’s batteries will be derived from biomaterials produced as a co-product in Suzano’s pulp manufacturing process, and they do not require the use of materials such as cobalt, nickel, and rare earth metals. They could be used in electric mobility, aerospace, robotics, and as grid buffers. Suzano will support innovation and commercialization of the technology, as well as developing global supply chains and markets for the batteries. Founded in 2016, it is based in Surrey, UK.
Gaussion emerged from stealth with £2.9M (~$3.5M) in seed funding from BGF and UCL Technology Fund. Gaussion has developed a technology for ultra-fast battery charging. It takes advantage of magneto-electrochemistry, using specialized magnetic fields that reduce resistance in the battery and make it easier for ions to move during charging. The startup says its chemistry-agnostic technology enabled commercially available cells designed to charge in one to five hours to perform 1,000+ cycles of consecutive 10-minute charging while still meeting all warranty specifications. Gaussion claims it can allow the average EV to achieve a week’s worth of driving in a sub-10-minute charge. Beyond EVs, it is also proposing the technology for power tools and the charge/discharge process in battery manufacturing. “We will leverage this investment to establish a state-of-the-art R&D facility in central London, to allow future growth and innovation,” said Chun Tan, co-founder and COO of Gaussion. Founded as spin out from University College London in 2021, it is based in London, UK.
Carbonx Technology received tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel funding from Cowin Capital and Shunwei Capital. The startup makes carbon nanotube and graphite additives as well as anodes for lithium-ion and sodium-ion batteries. Founded in 2022, it is based in Suzhou, China.
Guoke Tanmei New Materials received tens of millions of yuan (CNY 10.0M is ~$1.5M) in seed funding from Co-win Ventures. The startup produces hard carbon anode materials for sodium-ion batteries. Funds will be used for construction of a 1,000 ton production line and establishment of a research facility. Founded in 2022, it is based in Huzhou, China.
Na&Li Technology drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel financing from CasStar, Soochow Venture Capital, and Canmax Technologies. The startup makes high-nickel cathode materials and lithium-rich manganese-based cathode materials for lithium batteries, including solid-state, solid-liquid hybrid, and high-nickel liquid batteries. It is initially targeting batteries for consumer electronics and small power tools. Funds will be used for pilot production line construction, raw material procurement, and hiring. Founded in 2022, it is based in Changzhou, China.
Qi Na New Energy received tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel financing from China Merchants Venture. The startup produces polyanion cathode materials for sodium-ion batteries. Funds will be used for construction of mass production lines. Founded in 2022, it is based in Wuhan, China.
Octet Scientific drew $1.0M in seed funding led by the Advanced Manufacturing Fund. Octet develops electrolyte additives for zinc-based and other aqueous batteries. The startup says its additives stop or hinder unwanted side reactions, resulting in increased capacity, longer lifetimes, higher efficiency, and better energy density. Funds will be used for hiring, sampling, and scaling up production. Founded in 2017, it is based in Cleveland, Ohio, USA.
Swistor received a CHF 0.1M (~$0.1M) seed loan from the Foundation for Technological Innovation. Swistor is creating high performance supercapacitors by coating dense nanocarbon electrodes with nanoscale active materials. Its lithium- and cobalt-free devices will initially target IoT sensor nodes and portable electronic devices. Funds will be used to establish an industrialization strategy and test industrial processes, as well as establish its supply chain and validate the market entry strategy. A spin out from EPFL founded in 2019, it is based in Lausanne, Switzerland.
Blue Current received a strategic investment from materials company Umicore. Blue Current manufactures silicon elastic composite solid-state batteries. The startup says the combination of composite electrolytes based on polymers and glass ceramics with silicon anodes enables smaller, lighter, and lower-cost battery packs with greater safety at the cell level and higher energy density at the cell and system level, increasing the driving range and charging speed of EVs. It is targeting both EV and non-automotive markets. “The promise of solid electrolytes is to enable electrodes that cannot cycle in liquid electrolytes,” said Nitash Balsara, co-founder of Blue Current, senior faculty scientist at Lawrence Berkeley National Lab, and professor of electrochemistry at the University of California. “In particular the use of a composite solid electrolyte to enable silicon cycling is compelling given the high capacity of this material.” Blue Current is also using Umicore’s materials in its battery under a joint development agreement. Founded in 2015, it is based in Hayward, California, USA.
HiNa Battery Technology raised Series B funding from the Chengtong Mixed Reform Fund. HiNa Battery develops and manufactures sodium-ion batteries for low-speed electric vehicles, grid and home energy storage, and other applications. The battery uses sodium as the active element, with low-cost Na-Cu-Fe-Mn-O as cathode and anthracite-based soft carbon as anode materials. The company also supplies cathode and anode materials and electrolytes for sodium-ion batteries. Funds will be used to increase production capacity. Founded in 2017 as a spin out from the Institute of Physics, Chinese Academy of Sciences, it is based in Liyang, China.
Nanoramic Laboratories received a strategic investment from General Motors’ GM Ventures. Nanoramic has developed an electrode technology for EV lithium-ion batteries that replaces conventional binder systems with a 3D nanocarbon mesh that works as a conductive scaffold for the electrodes as well as a binding structure for active material particles. Applicable to both cathodes and anodes, it eliminates polyvinylidene fluoride (PVDF) binders and N-methyl-2-pyrrolidone (NMP) solvents. The company says this can reduce overall cell cost by 27%, increase cell level energy density by 35%, reduce the CO2 footprint of the battery manufacturing process by 25%, and extend the cycle life of silicon anodes. It is chemistry agnostic and can be applied to ultracapacitors, Li-ion, and solid-state batteries. “This collaboration has the potential to improve both cost and sustainability in battery manufacturing for our Ultium EV Platform,” said Kent Helfrich, president of GM Ventures. Founded in 2019 as a spin out of MIT, it is based in Wakefield, Massachusetts, USA.
PolyCharge received a strategic investment from Mitsubishi Heavy Industries. PolyCharge makes capacitors using sub-micron, self-healing, polymer dielectrics, which the company says results in capacitors with energy density greater than 100x when compared to polypropylene film capacitors with voltage ratings ranging from 48 volts to thousands of volts. It can also reduce weight by as much as 90% when compared to multi-layer ceramic capacitors and operate at temperatures from -196°C to as high as 200°C. PolyCharge says the capacitors are well-suited for SiC and GaN systems in electric drive vehicles, renewable energy inverters, medical, aerospace, and industrial mobility applications. Formed in 2017 by Sigma Technologies, it is based in Tucson, Arizona, USA.
Lightricity received a £0.1M (~$0.1M) grant from the UK’s Freight Innovation Fund. The startup develops small photovoltaic systems for harvesting energy from indoor lighting to power IoT devices. It says that over the course of 20 years, its 2 cm2 panel exposed to 1000 lux of illumination can replace 20 AAA batteries or 440 CR1025 coin cell batteries. It can harvest ambient light down to 10 lux. Founded in 2012 based on research from Sharp Laboratories, it is based in Oxford, UK.
BlueOcean Technology received tens of millions of yuan (CNY 10.0M is ~$1.5M) in financing from Yongxin Capital, following up a strategic investment announced in March. BlueOcean offers single-phase immersion liquid cooling technology for servers and data center GPUs as well as PCs, 5G base stations, and aerospace applications. Funds will be used for production line construction and capacity expansion. Founded in 2019, it is based in Ningbo, China.
Raspberry Pi Ltd received a strategic investment from Sony Semiconductor Solutions. Raspberry Pi makes the eponymous low-cost single-board computer for education, makers, and IoT device development. The investment is part of a partnership that will bring Sony’s edge AI sensing products and platform to the Raspberry Pi ecosystem with the aim of boosting its capabilities for machine-learning applications at the edge. Founded in 2009, it is based in Cambridge, UK.
| Company | Sector | Amount Raised (M, USD) | Funding Type | HQ |
|---|---|---|---|---|
| Libode New Material | Batteries | $375.2 | Series B | China |
| SJ Semiconductor | Packaging | $340.0 | Series C+ | China |
| Rongke Power | Batteries | $145.6 | Series B | China |
| e2ip Technologies | Manufacturing | $88.1 | Series B | Canada |
| Xuzhou B&C Chemical | Materials | $87.3 | Venture | China |
| SiPearl | Processors & Logic | $82.1 | Series A | France |
| EdgeQ | Wireless | $75.0 | Series B | USA |
| Keyang Semiconductor | Packaging | $72.6 | Venture | China |
| AaltoSemi | Materials | $72.5 | Series A1 | China |
| Leekr Technology | Auto Components | $58.2 | Series B | China |
| Global Technology | Auto Components | $58.1 | Series C | China |
| Everstream Analytics | Manufacturing | $50.0 | Series B | USA |
| EnergyX | Batteries | $50.0 | Series B | USA |
| Prosper Precision Machine Tool | Equipment | $36.3 | Series D | China |
| Asens Technology | Materials | $36.3 | Series B | China |
| 3D Glass Solutions | Wireless | $30.0 | Series C | USA |
| BIBO Automotive Electronics | Auto Components | $29.1 | Series A | China |
| Cyclic Materials | Materials | $27.0 | Series A | Canada |
| Mojo Vision | Display | $22.4 | Series A | USA |
| E-magy | Batteries | $22.4 | Series A, Grant | Netherlands |
| Riverlane | Quantum | $18.7 | Series B | UK |
| SENSilicon | AMS | $17.5 | Series A | China |
| Novalith Technologies | Batteries | $15.4 | Series A | Australia |
| Sanzer New Materials | Equipment | $14.5+ | Pre-IPO | China |
| Techsense International | Equipment | $14.5+ | Series C | China |
| Royma Tech Precision | Equipment | $14.5+ | Series A+ | China |
| Semight Instruments | Equipment | $14.5+ | Series C | China |
| Sincevision Technology | Equipment | $14.5+ | Series C | China |
| Yuweitek | Equipment | $14.5+ | Series B | China |
| Corelink Technology | AMS | $14.5+ | Series B | China |
| Sichain Semiconductor | Power Semi | $14.5+ | Series A+ | China |
| Liobate Technologies | Photonics | $14.5+ | Series A | China |
| Micro Innovation Integrated Circuit | Security | $14.5+ | Series A2 | China |
| GravityXR | AR/VR | $14.5+ | Pre-A+ | China |
| Sinpro Intelligent Technology | Auto Sensors | $14.5+ | Series A | China |
| JoinSilicon Microelectronics | Processors & Logic | $14.5 | Series A | China |
| Sietium Semiconductor | Processors & Logic | $14.5 | Series A | China |
| LeapFive Technology | Processors & Logic | $14.5 | Series A | China |
| New Dimension Systems | EDA Adjacent | $14.5 | Series D | China |
| Zeta Tech | Manufacturing | $14.5 | Series A+ | China |
| EMC Semi-Conductor Technology | Materials | $14.5 | Angel | China |
| Spectrum Materials | Materials | $14.5 | Series D | China |
| Evolusia Semiconductor | Materials | $14.5 | Series A | China |
| Lekin Semiconductor | Photonics | $14.5 | Series A | China |
| Lumispot Optoelectronics | Photonics | $14.5 | Pre-B | China |
| Raysees Technology | Photonics | $14.5 | Series B1 | China |
| Keydom | Security | $14.5 | Series C | China |
| Rokid | AR/VR | $14.5 | Venture | China |
| Muye Microelectronics | Auto Sensors | $14.5 | Pre-A | China |
| ZD Automotive | Auto Components | $14.5 | Series A | Germany |
| Tianmou Optoelectronics | Auto Sensors | $14.5 | Pre-A | China |
| Trensor | Auto Sensors | $14.5 | Series C | China |
| Sanyi High-Tech Graphite New Material | Batteries | $14.5 | Venture | China |
| Quantum Source | Quantum | $12.0 | Seed | Israel |
| Cortical Labs | AI HW | $10.0 | Venture | Australia |
| Forefront RF | Wireless | $8.4 | Venture | UK |
| Allotrope Energy | Batteries | $6.7 | Strategic | UK |
| New Origin | Photonics | $6.6 | Venture | Netherlands |
| Agnostiq | Quantum | $6.1 | Seed | Canada |
| PreAct Technologies | Sensors | $6.0 | Series B | USA |
| VyperCore | Processors & Logic | $5.0 | Seed | UK |
| Imagia | Display | $4.5 | Seed | USA |
| Delmic | Equipment | $4.4 | Venture | Netherlands |
| Quanscient | EDA Adjacent | $4.3 | Seed, Grant | Finland |
| Yuxin Semiconductor | Memory & Storage | $3.6 | Strategic | China |
| SenseGlove | AR/VR | $3.6 | Series A | Netherlands |
| Gaussion | Batteries | $3.5 | Seed | UK |
| Varjo | AR/VR | $3.3 | Secondaries | Finland |
| May Mobility | ADAS & Autonomy | $3.0 | Grant | USA |
| Silicon Extreme | Quantum | $2.2 | Strategic | China |
| DEEPerceptron | Equipment | $1.5+ | Series A | China |
| Jiu Zong Intelligent Technology | Equipment | $1.5+ | Series B+ | China |
| V-Power Innovative Technology | Equipment | $1.5+ | Series A+ | China |
| Garen Semiconductor | Materials | $1.5+ | Angel | China |
| Hengyuan Photonics | Materials | $1.5+ | Pre-A | China |
| Meta Ink New Materials | Materials | $1.5+ | Angel | China |
| Shaanxi Yuteng Technology | Materials | $1.5+ | Pre-A | China |
| GreenValley Technology | Sensors | $1.5+ | Venture | China |
| West Lake Intelligent Vision | Sensors | $1.5+ | Angel | China |
| Green Guardee Technology | Display | $1.5+ | Series A | China |
| ImageTru3D | Display | $1.5+ | Pre-A | China |
| MZJ Sensor | Auto Sensors | $1.5+ | Angel | China |
| Risenlighten | ADAS & Autonomy | $1.5+ | Angel | China |
| Rock-AI Technology | ADAS & Autonomy | $1.5+ | Series A | China |
| Yunchuang Zhixing | ADAS & Autonomy | $1.5+ | Series A | China |
| Carbonx Technology | Batteries | $1.5+ | Angel | China |
| Guoke Tanmei New Materials | Batteries | $1.5+ | Seed | China |
| Na&Li Technology | Batteries | $1.5+ | Angel | China |
| Qi Na New Energy | Batteries | $1.5+ | Angel | China |
| BlueOcean Technology | Thermal Management | $1.5+ | Venture | China |
| Madeit Semiconductor | AMS | $1.5 | Venture | China |
| ComfortUni | Auto Components | $1.5 | Pre-A | China |
| Vehinfo Technologies | Auto Components | $1.5 | Pre-A | China |
| SandGrain | Security | $1.4 | Seed | Netherlands |
| DIVE Imaging Systems | Equipment | $1.3 | Grant | Germany |
| Vector Photonics | Photonics | $1.2 | Grant | UK |
| Octet Scientific | Batteries | $1.0 | Seed | USA |
| NanoEMI | Materials | $0.6 | Venture | Poland |
| Swistor | Batteries | $0.1 | Debt | Switzerland |
| Lightricity | Ambient Power | $0.1 | Grant | UK |
| Yun Silicon | Processors & Logic | Undisclosed | Pre-A+ | China |
| Gaopin Technology | Equipment | Undisclosed | Venture | China |
| Hashen Smart Materials Technology | Manufacturing | Undisclosed | Series B | China |
| XLR8 EMS | Manufacturing | Undisclosed | Private Equity | USA |
| Zhigu Seiko | Equipment | Undisclosed | Angel | China |
| ZRCOME | Equipment | Undisclosed | Series A | China |
| Bornsun Industrial | Materials | Undisclosed | Venture | China |
| LeapWave Technologies | Wireless | Undisclosed | Seed | Spain |
| Longsailing Semiconductor | Wireless | Undisclosed | Series A | China |
| SDSX | Wireless | Undisclosed | Series C | China |
| Wuqi Microelectronics | Wireless | Undisclosed | Strategic | China |
| SiEn Integrated Circuits | Power Semi | Undisclosed | Venture | China |
| Sirius Semiconductor | Power Semi | Undisclosed | Series B | China |
| Trimitec | Power Semi | Undisclosed | Series A++ | China |
| QUANTier | Quantum | Undisclosed | Venture | China |
| KT&T Technology | AR/VR | Undisclosed | Venture | China |
| Ming Chuang Intelligent | Display | Undisclosed | Series B | China |
| Ecar Tech | Auto Components | Undisclosed | Strategic | China |
| Konvery Data | ADAS & Autonomy | Undisclosed | Venture | China |
| Blue Current | Batteries | Undisclosed | Strategic | USA |
| HiNa Battery Technology | Batteries | Undisclosed | Series B | China |
| Nanoramic Laboratories | Batteries | Undisclosed | Strategic | USA |
| PolyCharge | Batteries | Undisclosed | Strategic | USA |
| Raspberry Pi | EDA Adjacent | Undisclosed | Strategic | UK |
SAIC Motors launched a new CNY 6.0B (~$875.7M) fund to invest in automotive semiconductor companies, including those developing chips for power conversion, power management, battery management, network and control, smart cockpit, sensing, connectivity, and ADAS.
Triniti Capital closed a CNY 2.0B fund (~$291.0M) that will primarily invest in display, photovoltaic, semiconductor, and energy storage startups. It will include companies ranging from materials and equipment to devices.
Autotech Ventures closed its third fund at $230.0M to invest in Seed through Series C mobility-related startups. The firm has invested in several automotive chip and autonomous driving companies.
Lightspeed China Partners made the first close of a new fund at CNY 800.0M (~$116.4M) that will focus on deep tech and green tech companies. The firm has invested in numerous semiconductor, battery, and automotive startups. It also invests in the enterprise, medical, and consumer fields.
MetaVC Partners closed a $62.0M fund that will invest in early-stage metamaterials startup companies. Corning, Gates Frontier, and JSR Corporation are among the investors in the fund. Metamaterials are surfaces that can manipulate light, sound, radio, and other waves using arrays of tiny structures. It will focus on startups developing solutions with applications in renewable energy, high-performance computing, imaging, and next generation wireless communications and sensors.
Speciale Invest launched a new growth fund with an investment of INR 100 Cr (~$12.2M), which it intends to double by closing. It will primarily invest in its existing portfolio of startups. The firm focuses on early-stage startups in areas that include space technology, green hydrogen, robotics, batteries, quantum technology, AI-based Software-as-a-Service, development tools, data infrastructure, and applications that employ large language models.
China’s Guangdong province plans to launch a CNY 30.0B ($4.4B) fund to invest in semiconductor companies, including auto chips, equipment, and materials.
Generative AI didn’t take over the list of largest rounds for AI companies this month (although Amazon has launched an accelerator program for generative AI startups). Instead, several large rounds went to technology enabling AI development and execution.
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