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Startup Funding: June 2022

Analog foundry expansion; EDA investments; 112 startups raise over $2.6B.

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Big money went to manufacturing in June, with a massive round for a Chinese analog foundry’s expansion to 55 – 40nm nodes. A fab management software startup also drew sizeable investment, as did a supplier of semiconductor-grade silicon components.

Investors didn’t forget chip design, with three EDA companies receiving new funding, one of which drew over $100 million. Plus, numerous test and inspection companies saw fresh investment, including test and inspection equipment.

Plus, chip security, RF filters, photonic interconnects, and car parts fill out this look at 112 companies that collectively raised over $2.6 billion in June 2022.

  • Semi & design

    Arduino raised $32.0M in Series B funding led by Robert Bosch Venture Capital, joined by Renesas, Anzu Partners, and Arm. Arduino offers open-source prototyping boards commonly used in education, maker, and hobbyist projects, along with software and developer tools. The funding will be used to expand its reach into the professional and industrial market, including low-code cloud services to accelerate the development and deployment of IoT applications, new system modules for intelligent edge design, and integrating new AI capabilities. As part of the investment, Renesas will make its MCUs/MPUs, analog, power, and connectivity products available for Arduino’s technology platforms. Based in Torino, Italy, it was founded in 2005.

    Resnics raised hundreds of millions of yuan (CNY 100.0M is ~$15.0M) in a Series A round led by JLSemi, Renchen Semiconductor, and MassAve Global, joined by Grit Ventures, Bull Capital Partners, and Oakseed Ventures. Resnics designs data processing unit (DPU) chips, smart network interface controllers (smart NICs), and FPGA accelerator cards. Funds will be used for commercialization. Based in Shanghai, China, it was founded in 2020.

    Hercules Microsystems raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in venture funding from Haiwang Capital, Zhongguancun Development Group, and others. Hercules Microsystems offers FPGAs, eFPGA, heterogeneous devices combining FPGA and CPU, and design software. Its products cover a range of applications including IoT, wearables, and mobile devices. It provides low-cost devices for video drivers, industrial control, and smart home and high-performance devices for communications and cloud. It is planning to start mass production of devices based on a 22nm process later this year. Founded in 2017, it is based in Beijing, China.

    Dayu Technology closed a Series A round from the Qianhai Fund of Funds Connected Intelligence Fund. Dayu designs data processing units (DPUs) for cloud computing. It also provides system software and application integration. The investor also expects future strong demand for DPUs to bolster in-vehicle networking. Funds will be used for product development and marketing. Based in Beijing, China, it was founded in 2020.

    Xinshijie Semiconductor Technology was established with funding from Hubei Xiaomi Changjiang Industry Fund Partnership, Zhuhai Hengqin Jianyun Investment, and Guangdong-Macao Semiconductor Industry Investment Fund. The startup will design and manufacture ICs. It is speculated the new company will work primarily on chips for Xiaomi. Based in Zhuhai, China, it was founded in June 2022.

    AI hardware

    Rebellions raised 62.0B won (~$50.0M) in a Series A round that included Temasek Pavilion Capital, Korean Development Bank, SV Investment, Mirae Asset Capital, Mirae Asset Ventures, IMM Investment, KB Investment, KT Investment, and existing backers Kakao Ventures, GU Equity Partners, and Seoul Techno Holdings. Rebellions develops domain-specific AI processors along with optimized software. It says it re-architects AI processors to incorporate sophisticated deep learning features through silicon-dedicated DL kernels. Its first product targets the financial industry and aims to improve trading speeds and reduce latencies for high-frequency trading. It plans to tape out its second AI chip, which targets servers, later this year. Funds will be used for mass production as well as for hiring and U.S. expansion. Founded in 2020, it is based in Seoul, South Korea.

    NextVPU raised hundreds of millions of yuan (CNY 100.0M is ~$15.0M) in Series C financing led by ICBC International. NextVPU designs edge AI vision chips targeting applications such as smart security cameras and smart home, automotive, and robotics. It says it combines image signal processing with a built-in 3D noise reduction and dynamic contrast enhancement module. Software and development boards are also available. The company also makes a line of assistive products for blind and low-vision people. Funds will be used for global market development and hiring. Based in Shanghai, China, NextVPU was founded in 2016.

    Opteran drew $12.0M in funding led by Join Capital, with additional funding from IQ Capital, Northern Gritstone, Seraphim, Episode 1, and Schauenburg Ventures. Opteran takes an insect-inspired approach to AI and autonomous systems. Instead of traditional deep learning and neural nets, the startup is using how insect brains observe and react to the world as the basis for its lightweight, low power platform with navigation, SLAM, and decision-making capabilities that can be integrated into things like drones, industrial, and mining robots. “By mimicking Nature’s genius to enable machines to move like natural creatures we are redefining the global market for machine autonomy,” said David Rajan, CEO, Opteran. “We expect Opteran Natural Intelligence to become the standard solution for autonomy anywhere on the ground or in the air, on any machine, large or ultra-small, because it combines such sophisticated natural brain capabilities in a light-weight, efficient package.” Based in Sheffield, UK, it was formed in 2020 as a spin out from the University of Sheffield.

    NeuReality received new investment from Samsung Ventures. NeuReality is working on purpose-built AI platforms, particularly for inference in the data center. The startup says its solution reduces the dependency on CPUs, NICs, and PCI switches and moves simple but critical data path functions from software to hardware. It says its SoC improves the utilization of AI compute resources that are currently deployed by removing existing system bottlenecks, lowering the latency of AI operations, and saving in overall system cost and power consumption. The company also provides software and runtime libraries to accelerate AI deployment. “The funds will help us take the company to the next level and take our NR1 SoC to production. This will enable our customers to evolve their system architecture, and this evolution will make it easier for them to scale and maintain their AI infrastructure, whether it is in their data center, in a cloud or on-premises,” said Moshe Tanach, CEO and co-founder of NeuReality. Founded in 2019, the company is based in Caesarea, Israel.

    EDA

    UniVista Industrial Software Group, also known as Hejian Industrial Software, raised over CNY 1.1B (~$164.3M) in pre-Series A funding from IDG Capital, CAS Investment Management, China Automotive Chips Alliance, Feixiang Capital, SAIC Capital, GAC Capital, SummitView Capital, and Mulan Investment. UniVista provides functional verification tools as well as verification consulting services. It recently announced several new products, including a timing-driven FPGA prototyping system that supports the cascading of 4-100 VU19P FPGAs. Up to 25 systems can be used together. The company also offers a collaborative design sign-off tool for advanced packaging, a simulation platform, a debugging tool, a regression test management platform, and a hybrid prototyping system-level IP verification solution. Founded in 2021, it is based in Shanghai, China.

    Intento Design closed its third round of funding with participation from Seventure Partners and Caisse d’Epargne Normandie. Intento Design develops EDA tools focused on analog and mixed-signal design. Its products include a technology-independent analog design acceleration and migration tool for schematic-centric design flows that offers bias and sizing exploration. The company also has a substrate coupling analysis tool for silicon and signoff verification that predicts substrate high-risk areas. Funds will be used to accelerate its international and commercial deployment. Founded in 2015, it is based in Paris, France.

    Monozukuri, also known as MZ Technologies, received a strategic investment from industrial holding company MARCAP. The investment gives MARCAP a 16% equity stake in Monozukuri. Monozukuri has developed tools for IC/package co-design that enable system design across multiple levels and components including die, chiplets, silicon interposer, package, and surrounding PCB for 2D, 2.5D, and 3D designs. It offers a single, consistent interconnect manager that represents and maintains the interconnect model of the entire system along with a cross-hierarchical 3D-aware pathfinding engine that identifies the best interconnect in a 3D space. The latest version of its tool suite introduces early parasitic estimation and stack planning functionality to compare multiple floorplans. The tools integrate with existing flows and implementation platforms. “We’ve invested a lot in developing a technology platform with unique features and now we are ready to serve global markets, thanks to important contacts with major Silicon Valley companies. We will continue to enrich GENIO with new exclusive features, because chiplet technology represents the future of the microchip industry,” said Anna Fontanelli, Monozukuri founder and CEO. Founded in 2015, the company got its start with the HIPER project under Europe’s Horizon 2020 program. It is based in Rome, Italy.

    Manufacturing

    CanSemi raised CNY 4500.0M (~$671.9M) in investment led by GAC Capital and the Guangdong Province Semiconductor and Integrated Circuit Industry Investment Fund, joined by Yuexiu Industrial Fund, Yingke PE, CMB International, Walden International, GF Securities, Jadestone VC, and others. CanSemi is a 12-inch analog foundry specializing in industrial and automotive-grade mid-to-high-end analog chips. The first two phases of its project, establishing 180-90nm processes followed by 90-55nm processes, have been completed. The funds will go towards the third phase, which will extend its available nodes to 55-40nm. When the third phase is complete, it expects to have a monthly output of nearly 80,000 12-inch wafers. It plans to eventually introduce a 22nm process. Founded in 2017, it is based in Guangzhou, China.

    Semitech raised CNY 540.0M (~$80.6M) in Series A++ and Series B rounds. Investors included China Internet Investment Fund, BYD Group, Inno-Chip, Shanghai STVC Group, Shanghai Free Trade Zone Fund, and Skyview Fund. Semitech offers computer integrated manufacturing (CIM) and manufacturing execution system (MES) software for semiconductor manufacturing, from front-end to back-end packaging and testing for both 8-inch and 12-inch wafer fabs. Its products cover production management, quality management, and logistics management. It also offers manufacturing software for industries such as electronic packaging, medical equipment, batteries, rail transportation, and auto parts. Founded in 2017 as the result of a merger, it is based in Shanghai, China.

    Geminus raised $5.9M in seed funding led by Lam Capital and SK Group, joined by SkyRiver Ventures, Sentiero Ventures, and existing investors The Hive and Darling Ventures. Geminus combines physics-based simulation, measurement data, and AI to create digital twins that can be used to optimize performance and predict the impact of asset degradation and system changes. The solution can be applied to semiconductor manufacturing, along with a variety of other industries including energy, chemical and material manufacturing, and critical infrastructure. “Our customers report model creation times that are cut from months to days. We regularly see model execution speeds that are 1,000x faster than high fidelity simulations for a small loss in accuracy. This means engineers can achieve optimal performance fusing all available sources of information,” said Karthik Duraisamy, co-founder and chief science officer of Geminus and professor at the University of Michigan. Founded in 2018, it is based in Palo Alto, California, USA.

    Mekr Technologies raised INR ₹58.0M ($0.7M) in seed funding from Titan Capital and Better Capital, joined by 2AM VC. Mekr offers a digital manufacturing platform for electronics. It contracts with manufacturing partners for PCBA, plastics molding, metal processing, other parts, and semiconductor sourcing to provide a finished product. Funds will be used to boost its technology, supply chain, sales, and project management team. Founded in January 2022, it is based in Delhi, India.

    Test

    TBSTest Technologies raised more than CNY 500.0M (~$74.7M) in new financing led by Legend Capital and joined by over ten new and existing investors. TBSTest develops automatic test equipment (ATE) for ICs, SoCs, and memory chips. It plans to expand to more specialty test equipment fields, covering IGBT, CMOS image sensor, RF, and other product markets. Based in Hefei, China, it was founded in 2017.

    iTest Semiconductor drew over CNY 100.0M (~$15.0M) in Series A funding led by Inno-Chip. iTest Semiconductor provides wafer test and final test services. It also offers test plan development, development of test software, and packaging and testing outsourcing management. It recently broke ground on its third factory, which will be located in Suzhou. It is expected to be completed in December 2022, with funds from the round being used for the construction. Funds will also be used for equipment, R&D, and marketing. Based in Yangzhou, China, it was founded in 2018.

    NCAtest Technologies raised nearly CNY 100.0M (~$15.0M) from Haiwang Capital and the Shanghai Internet-of-Things Venture Capital Fund. NCAtest Technologies provides semiconductor test equipment. Test applications cover mobile phone chips, smart card chips, and storage chips. Funds will be used to expand its existing mid-to-high-end automated test platform production line and for R&D on new platforms. Founded in 2014, it is based in Shanghai, China.

    MaxOne Semiconductor received Series B investment from China Capital Management, CoStone Venture Capital, Shenzhen Juntong Capital Investment Management, Suzhou International Development Venture Capital, Teda Venture Capital, and Tianjin Haida Venture Capital Management. MaxOne offers IC wafer test probe cards including 3D MEMS vertical probe cards and RF MEMS vertical probe cards. Based in Suzhou, China, it was founded in 2015.

    Inspection & metrology

    UnitySC raised €48.0M (~$51.4M) in venture funding led by Jolt Capital, the French State through French Tech Souveraineté, and Supernova Invest. UnitySC offers metrology and inspection equipment for the semiconductor industry. It makes measurement equipment for advanced packaging, including 3D IC, that combines automated optical inspection and 3D imaging with high depth of focus line scanning, temporal-mode interferometry, spectrometry, and phase shift analysis. It also offers a range of equipment dedicated to other types of high-end processes, including patterned and un-patterned defect inspection for compound semiconductors, transparent substrates, or specialty devices such as MEMS and power, automotive, and RF. A spin out from Fogale Nanotech in 2016, it is based in Montbonnot, France.

    INS drew nearly CNY 100.0M (~$15.0M) in a Series A+ round led by Eastern Bell Capital and Yinshan Capital. The startup offers AI-assisted 2D and 3D visual inspection systems for applications including batteries, consumer electronics, and automotive. Founded in 2017, it is based in Suzhou, China.

    Photo electron Soul closed a financing round of $3.0M (¥350.0M). The company provides photocathode e-beam systems for semiconductor inspection, which it says improves e-beam inspection speed by 10x compared to current technology. It has also developed a technology it calls Selective e-Beaming (SeB) to enable e-beaming of samples with the desired probe current and location at the single-pixel level. “With SeB, sample damage caused by e-beaming is reduced. In addition, we recently confirmed that SeB can operate CMOS transistors for testing on semiconductor chips. This has amazed some chip manufacturers, and we have already started collaborations to develop new applications for inspection with SeB,” said Takayuki Suzuki, CEO of Photo electron Soul. Based in Nagoya, Japan, Photo electron Soul was founded in 2015 based on R&D from Nagoya University.

    Terapark Technology raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in multiple rounds of financing from Addor Capital, Panlin Capital, Nanjing Innovation Capital Group, Inspiration Capital, and others. Terapark Technology has developed CMOS terahertz high-speed imaging chips with frequencies ranging from 100 to 400GHz. It is planning to incorporate these in terahertz industrial inspection modules and instruments for non-destructive inspection of semiconductor materials, high-power and high-frequency electronic materials, photovoltaics, and other materials. Based in Nanjing, China, it was founded in 2020.

    Vomma Technology drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in pre-Series A+ funding from Matrix Partners China. Vomma develops 3D light field cameras for defect inspection in BGA packages, wirebonds, and PCBs, as well as in OLED screens and CPI films for mobile devices. It says its technology can also be used to optimize VR screens by imitating the human eye to measure the comfort and virtual image surface distance. Funds will be used for marketing and creating new product lines for additional inspection markets such as aerospace. Founded in 2019, it is based in Shanghai, China.

    Equipment

    MegaRobo Technologies raised $300.0M in Series C funding led by Goldman Sachs Asset Management, Asia Investment Capital, and GGV Capital, joined by Sinovation Ventures, Pavilion Capital, Starr Capital, U-Member Capital, RedView Capital, Harvest Capital, and Taihe Capital. The company’s primary focus is automation equipment for the life sciences and biopharmaceutical industries, along with R&D process optimization and AI drug development services. In the semiconductor industry, it offers automatic double-spindle dicing and semi-automatic single-spindle dicing machines, as well as automated optical inspection equipment to detect defects on semiconductor packages. It also provides display testing equipment. Founded in 2016, it is based in Beijing, China.

    Ada Intelligent Equipment raised hundreds of millions of yuan (CNY 100.0M is ~$15.0M) in Series B financing led by CDH Investments, joined by Xinchao Group, CDF Capital, Casstar, and Guangdong Semiconductor and Integrated Circuit Industry Fund. Ada Intelligent Equipment provides semiconductor packaging equipment, including high-precision wire bonder and flip-chip machines, board-level and wafer-level packaging equipment, and MicroLED mass transfer equipment. Based in Foshan, China, it was founded in 2017.

    Cronus Technology raised nearly CNY 100.0 (~$15.0M) in a Series B round from China Fortune-Tech Capital. Cronus provides precision linear motor motion platforms for semiconductor manufacturing that offer repeat positioning accuracy of ±50nm for wafer cutting, inspection, and packaging. It also offers systems for PCB laser direct writing, photovoltaics, and battery manufacturing. Founded in 2015, it is based in Shenzhen, China.

    Linkwise Technology, also known as Chengchuan Technology, raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series A financing from Zhengxuan Investment, following an angel round in February. Linkwise Technology produces automated materials handling systems (AMHS) for the semiconductor industry. It focuses on packaging and testing facilities. It also provides production line automation system planning and design services. Based in Suzhou, China, it was founded in 2020.

    Suzhou Bama Superconductive Technology drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in a Series A+ round from Haiwang Capital, SR Capital, and SIDVC. Bama Superconductive manufactures superconducting magnets and cryogenic vacuum equipment. Its products include superconducting magnets for growing both 8- and 12-inch monocrystalline silicon as well as cryopumps for use in semiconductor and flat panel display manufacturing. It also supplies superconducting magnets for medical and research equipment. Founded in 2018, it is based in Suzhou, China.

    Ultron Photonics received tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series A+ financing. Ultron Photonics manufactures femtosecond lasers for a number of industrial applications, including wafer dicing, displays, photovoltaics, and lidar. It also supplies lasers for medical and research purposes. It plans to enter the lithium-ion battery equipment market. Founded in 2018, it is based in Hangzhou, China.

    Wintime Semiconductor drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel funding from Addor Capital. Wintime provides services and parts for wafer cutting equipment. It offers cutting blades, cutting tape, specialty working disks, and special work trays. The company also provides installation and maintenance services. Founded in 2020, it is based in Nantong, China.

    Peach Automation received Series A funding from Sany Group. The company provides assembly equipment for applications such as consumer electronics, PCBs, automotive electronics, and LEDs. Its products include automated glue machines, locking screws, and laser soldering. Based in Shenzhen, China, it was founded in 2015.

    Materials

    SiFusion, also known as Dunyuan Juxin, raised over CNY 500.0M (~$75.0M) in funding. SiFusion provides semiconductor-grade silicon materials and components, semiconductor-grade silicon carbide materials and components, and quartz crucibles. Its offerings include 620mm silicon component monocrystalline ingots. Funds will be used for construction of an etched silicon component production base. Founded in 2011, it is based in Hangzhou, China.

    MIG Semi, also known as Ming Gallium Semiconductor, raised nearly CNY 100.0M (~$15.0M) in Series A financing from YTI Capital, Share Capital, and others. The company produces gallium oxide substrate material from crystal preparation and processing through epitaxy and performance testing. Based in Beijing, China, it was founded in 2020.

    Foshan Nanotech raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel funding from CasStar and Leaguer Venture Capital. The company has developed nanocomposite flexible transparent conductive films with good optoelectronic properties, uniformity, and weather resistance. It completed a production line that uses magnetron sputtering earlier this year and says its ultra-thin film has been demonstrated in large-scale touch displays, dimming devices, and transparent electromagnetic shielding. Founded in 2020 based on research from the Ningbo Institute of Materials, Chinese Academy of Sciences, it is based in Ningbo, China.

    Tianyu Semiconductor, also known as TYSiC, announced its second and third rounds of investment with funders including BYD Group and SAIC Venture Capital. TYSiC manufactures silicon carbide (SiC) epitaxial wafers. It currently offers 4-inch and 6-inch wafers for power devices from 600V up to 3300V and is working on a production line for 8-inch wafers. It also provides epitaxial film foundry services as well as substrate and wafer inspection and wafer cleaning services. Founded in 2009, it is based in Guangdong, China.

    Analog & mixed signal

    MEMSonics raised nearly CNY 600.0M (~$89.7M) in Series B funding from Changjiang Innovation Fund Management, CCB Investments, China Railway Jianxin Asset Management, SDIC Changjiang (Hubei) Investment Management, Construction and Development Fund, Hubei High-Quality Development Industry Investment Fund, Zhongjia Capital, and Hubei Ruijiang Investment. MEMSonics designs and manufactures front-end bulk acoustic wave (BAW) filters and other radio frequency filters covering piezoelectric microphones and piezoelectric ultrasonic sensor chips. With strategic partners, it is building an 8-inch MEMS fab that is expected to enter production by the end of 2022. Funds will be used for purchasing more manufacturing equipment to accelerate mass production. Wuhan, China, it was founded in 2019.

    CrossChip MicroSystems raised over CNY 100.0M (~$15.0M) in Series A funding led by CRRC Capital, joined by CoStone Capital, DB Investment, Shang Qi Capital, Shenzhen Inovance Technology, and Shenzhen Juntong Capital Investment Management. CrossChip provides Hall effect sensor, magnetic resistance sensor, current sensor, motor driver, LED driver, and power management chips. Applications include photovoltaic inverters, industrial control, and automotive. Founded in 2013, it is based in Chengdu, China.

    EasyPower Semiconductor drew CNY 100.0M (~$15.0M) in a Series B round from Huatai Zijin and Addor Capital. EasyPower designs battery management system (BMS) chips, voltage regulator chips, and signal chain chips. The funding will be used to focus on developing and qualifying automotive-grade BMS solutions. Founded in 2016, it is based in Nanjing, China.

    Tauren Semiconductor drew CNY 49.5M (~$7.4M) in funding from BYD Group. It develops analog and mixed-signal chips and IP including high-performance ADC/DAC, transceivers, SerDes, and vehicle battery management system chips. It is based in Shanghai, China, and was founded in 2015.

    Grand Microelectronics drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series A investment from China Fortune-Tech Capital and Haiwang Capital. Grand Microelectronics designs analog and mixed-signal chips, particularly high-speed switches, high-performance PLL clock generators, and differential clock buffers. Funds will be used to expand its existing product lines, as well as to enter the RF front-end and custom SoC market. Based in Wuxi, China, it was founded in 2018.

    KTD Electronics received venture funding from Bridge Capital China. KTD Electronics develops microwave RF chips for satellite communications such as TV and internet. Its products include a Ku-band 6-bit phased array transceiver chips, tuners, and low-noise GaAs pHEMT integrated amplifier chips. Based in Xiamen, China, it was founded in 2014.

    Power devices

    Quenergy Semi, also known as Kuanneng Semiconductor, raised over CNY 200.0M (~$30.0M) in angel funding led by CTC Capital, joined by Ince Capital, Yunqi Partners, Addor Capital, GP Capital, Junsan Capital, Shezhen Guozhong Venture Capital Management, and others. The startup manufactures silicon carbide (SiC) power devices. It is currently constructing a production line in Nanjing, which it claims will be the largest SiC wafer fab in China when completed. Based in Nanjing, China, it was founded in 2021.

    Luxin Semi raised hundreds of millions of yuan (CNY 100.0M is ~$15.0M) in Series D funding that included Sharewin Investment. Luxin Semi makes power semiconductors, including 400V 200A-400A trench field stop IGBT, 650V 5A-200A IGBT, 1200V and 1350V 10A-100A IGBT, 1700V IGBT, hybrid IGBT, and medium voltage shielded gate trench (SGT) MOSFET. Applications include electric vehicles, high frequency power supplies, and induction heating. Based in Shanghai, China, it was founded in 2017.

    Synteris won a $2.7M grant from the U.S. Department of Energy. Synteris uses an additive manufacturing technique called Selective Laser Reaction Sintering to make ceramic parts. The method involves printing a reactive precursor material and using a gaseous atmosphere to create the final product. The grant will be used to develop and demonstrate ceramic packaging for power electronic modules. The startup says the unique shapes possible with 3D printing enable better heat transfer abilities compared to standard ceramic packages. Based in Baltimore, Maryland, USA, it was founded in 2020.

    CoolSemi drew tens of millions of yuan in (CNY 10.0M is ~$1.5M) in a pre-Series A round. CoolSemi offers power devices, including low voltage shielded gate trench (SGT) MOSFET, high voltage super junction (SJ) MOSFET, trench gate field stop IGBT, SiC Schottky barrier diode (SBD), SiC MOSFET, GaN HEMT, and intelligent power modules. It targets consumer, industrial, and automotive markets, with applications including fast chargers, LED lighting, communication power supplies, server power supplies, photovoltaic inverters, and charging piles. Based in Shanghai, China, it was founded in 2018.

    InverTek received tens of millions of yuan (CNY 10.0M is ~$1.5M) in a Series A round from Fosun Capital. InverTek makes power electronics for automotive applications. Products include gate driver chips that use a closed-loop control function it says reduces switching losses and electromagnetic interference, as well as power modules and power management ICs. Based in Jiangsu, China, it was founded in 2017.

    Puxi Optics raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in pre-Series A financing from Ce Yuan Ventures. The startup produces silicon carbide (SiC) motor drive systems and modules, primarily for automotive. It is planning to expand to other areas such as transformer systems and high-efficiency switching power supplies for mining machines. Based in Hangzhou, China, it was founded in 2020.

    Senmu Leishi Technology raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in venture funding led by Source Code Yisu, joined by Dayineng Enterprise Management and Yiwei Capital. The startup has developed what it calls a programmable power electronics controller (PPEC), which it says can speed development of digital power supplies. Currently available as boards, the funding will help implement the PPEC as a chip. It also offers semi-physical simulation of power electronics. Based in Wuhan, China, it was founded in 2017.

    Top Electronics raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel financing. Top Electronics offers silicon carbide (SiC) power devices, including SiC Schottky barrier diodes (SBD), MOSFETs, modules, and 600V-3300V custom devices. Founded in 2020, it is based in Wuhu, China.

    Basic Semiconductor closed a Series C2 financing round from Guangzhou Automobile Group, Blue Ocean Huateng, and CMB International Capital Corporation. The round was swiftly followed by Series C3 funding that included Technology Financial Group. Basic Semiconductor designs and manufactures silicon carbide power devices, including Schottky diodes, planar and trench MOSFET, and 10kV PiN diodes. It also offers 100/150mm SiC epitaxial wafers and manufacturing services. Funds will be used for R&D, construction of manufacturing bases, and expansion into electric vehicle and photovoltaic markets. Founded in 2016, it is based in Shenzhen, China.

    ShiningIC, also known as Yuxin Electronic Technology, raised Series B funding from China Fellow Partners. ShiningIC offers power management, battery management, and LED driver ICs for applications such as solar lighting, consumer electronics, and power tools. Founded in 2014, it is based in Shanghai, China.

    Yanhuang Guoxin, also known as Trimitec, raised Series A funding from Shanda Capital. The company makes power management chips for high-reliability industries such as aerospace. Its products include rad-hard DC/DC and ultra-low noise LDO. The funds will be used to expand into other areas such as industrial, automotive, photovoltaics, and power grids, as well as to establish packaging lines and expand test lines. Based in Beijing, China, it was founded in 2016.

    ZMH Semi, also known as Hefei Cpower Technology, received pre-Series A funding from photovoltaic component company GoodWe. ZMH Semi manufactures power device modules, including IGBT, silicon carbide (SiC), and hybrid modules for applications including electric vehicles, motor drives, and photovoltaic inverters. Based in Hefei, China, it was founded in 2018.

    Photonics

    Scintil Photonics raised €13.5M (~$14.4M) in its second round of funding led by Robert Bosch Venture Capital, joined by Innovacom, Supernova Invest, and Bpifrance. A fabless company, Scintil Photonics designs optical communications for high-speed system and chip interconnections. Its Augmented Silicon Photonic Integrated Circuit product is a single-chip solution consisting of active and passive components where III-V optical amplifiers and lasers are integrated on the backside of advanced silicon photonic circuits. It is manufactured with standard silicon photonics processes available at CMOS commercial foundries. The startup says all-in-one integration of amplifiers and lasers enables ultra-high-speed communications from 800 Gbit/sec to 3,200 Gbit/sec with very compact chips. Funds will be used for commercialization. Founded in 2018 based on research from CEA-Leti, it is based in Grenoble, France, and Toronto, Canada. It has raised $18.8M to date.

    Shanhe Photonics drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in pre-Series A financing led by Matrix Partners and Shunyu Industrial Fund, followed by CasStar. Shanhe Photonics develops metasurface photonic chips. Metasurfaces are arrays of subwavelength structures arranged on a two-dimensional plane that can control light and electromagnetic waves in a compact space. They can also be used to integrate multiple functions on one photonic chip. The startup says its chips have applications in large-scale light transmission, micro-displays, and optical computing. It has completed sample production and module packaging for several products. Funds will be used for product development, hiring, and small-scale mass production. Based in Tianjin, China, it was founded in 2020.

    Winco Semiconductor raised at least CNY 5.0M (~$0.8M) in angel funding that included Oceanpine Capital. The startup develops high-reliability laser chips for long-distance backbone optical networks and for lidar coherent light sources. Funds will be used for R&D, equipment procurement, and fab construction. Founded in 2021, it is based in Wuxi, China.

    NLM Photonics received a strategic investment from Hamamatsu Photonics. NLM Photonics has developed technology that utilizes organic electro-optic (OEO) materials to enable low-voltage, low-power, high-performance transfer of data between electronics and photonics. The startup says it can tailor its photonic components for a range of applications in computing and networking. “The technical assessment, support, and resources Hamamatsu represents will accelerate NLM Photonics’ current efforts and contribute to the financial and intellectual resources we are assembling in support of our development plans,” said David Sparks, VP of Corporate Development at NLM Photonics. Founded in 2018 based on research from the University of Washington, it is based in Seattle, Washington, USA.

    Quantum computing

    ORCA Computing raised $15.0M in Series A funding led by Octopus Ventures, Oxford Science Enterprises, Quantonation, Verve Ventures, and others, with Innovate UK providing additional project-based funding. ORCA Computing develops photonic quantum computing systems and software. Key to the system is the startup’s quantum memory that can store and retrieve single photons on demand, which it says enables high-speed ‘repeat-until-successful/release-when-needed’ operation, rather than relying on an extremely large number of redundant components working in parallel. It says the system doesn’t require refrigeration or vacuum and can be built as a plug-and-play rack-mounted system using standard components such as telecoms switches and optical fiber. Funding will be used to roll out its near-term systems and software to users, as well as to continue developing its full-stack fault-tolerant solutions and quantum computing systems. Based in London, UK, it was founded in 2019.

    QuantWare was awarded a €7.5M (~$8.1M) grant from the European Innovation Council. QuantWare designs and fabricates scalable and customizable superconducting processors for quantum computers. It has released 25-qubit and 5-qubit superconducting processors targeted at research institutions and universities. The company said it has 99.9% single-qubit gate fidelities for manageable error rates. It is also developing a low-noise traveling wave parametric amplifier. Founded in 2021 as a spin out from TU Delft and QuTech, it is based in Delft, the Netherlands.

    EvolutionQ received $5.5M in Series A investment led by Quantonation, joined by The Group Ventures and others. EvolutionQ offers software to allow organizations building a network based on Quantum Key Distribution devices to deploy and manage quantum technologies throughout their network. It also offers quantum-safe cybersecurity consulting services. Founded in 2015, it is based in Kitchener-Waterloo, Canada.

    Planqc launched from stealth with €4.6M (~$4.8M) in seed funding led by UVC Partners and Speedinvest. Planqc is developing a scalable quantum computer based on atoms trapped in optical lattices that can operate at room temperature. Quantum information is then processed with quantum gates based on precisely controlled laser pulses. “Planqc’s quantum computers are built on the precision of the world’s best atomic clocks, the world’s best quantum gas microscopes, and high-speed Rydberg gates,” said Sebastian Blatt, CTO and co-founder of Planqc, and researcher at Ludwig-Maximilians-University Munich. The startup says its combination of technologies can quickly scale to thousands of qubits. “For me, the most exciting application of near-term quantum computers is the simulation of materials, and the platform based on atoms used in Planqc is the best suited for that purpose,” said J. Ignacio Cirac, director at the Max-Planck-Institute of Quantum Optics. Based on research from the Max-Planck-Institute of Quantum Optics and Ludwig-Maximilians-University Munich, it was founded in April 2022 and is based in Garching, Germany.

    Riverlane and Rigetti Computing were awarded a £0.5M ($0.6M) grant from Innovate UK that will focus on error correction for superconducting quantum computers. Since a quantum computer’s main qubits can’t be measured without destroying the information in them, error correction techniques use additional qubits, called ‘syndrome qubits,’ and measure their status, called syndromes, to infer the occurrence of errors on the main qubits. The two companies will work together to minimize the errors introduced during syndrome extraction on a superconducting quantum computer. Riverlane provides an operating system for error corrected quantum computing; Rigetti builds quantum computers and superconducting quantum processors.

    Seeqc received two grants totaling $0.4M from the U.S. Department of Energy. The first grant will support development of a novel method to protect qubits from external disturbance such as cosmic rays. The new process will address phonon-induced decoherence, leveraging Seeqc’s current fabrication process to make unique phonon blocking features. The second grant will support creating microfabricated silicon-based millimeter wave components at its New York based foundry. Seeqc’s approach combines classical and quantum computing to address efficiency and stability issues. The company’s digital quantum management SoCs are co-located with qubit chips as multi-chip modules in the same cryogenically cooled system and perform digital qubit control, readout and classical data processing functions, as well as being a platform for error correction. It also owns a multi-layer superconductor fab. Based in Elmsford, New York, USA, Seeqc was spun out of Hypres in 2018.

    Quantum-focused accelerator program Duality announced its second cohort of companies that will participate in its year-long program that provides funding, mentorship, and access to equipment and facilities.

    • Icosa Computing is a USA-based startup building quantum computing and physics-enhanced optimizers for financial institutions.
    • memQ is a USA-based company building technology to enable the quantum internet.
    • Quantescence is a France- and USA-based quantum computing software startup that has created a quantum emulator platform.
    • SCALINQ is a Sweden-based startup developing unique packaging solutions for superconducting quantum chips.
    • Wave Photonics is a UK-based startup using computational techniques to accelerate integrated photonics design.

    Sensors

    Vayyar Imaging raised $108.0M in Series E financing led by Koch Disruptive Technologies, joined by GLy Capital Management, Atreides Management LP, and existing investors including Battery Ventures, Bessemer Ventures, More VC, Regal Four, and Claltech. Vayyar offers platforms based on its 4D imaging radar SoC and software. Its platforms cover imaging and radar bands from 3-81 GHz, with up to 72 transceivers, and use a printed antenna array design for a 170° field of view. The SoC includes DSP, MCU, and machine learning and radar algorithms. Applications include automotive (in-cabin, ADAS, and motorcycle), breast cancer screening, and fall detection for senior care. The funding will be used to expand into verticals including public safety, medical, robotics, and retail, enhance machine learning capabilities, and expand geographically. Founded in 2011 and based in Yehud, Israel, it has raised over $300M.

    Cista Design raised nearly CNY 300.0M (~$44.8M) in Series C2 financing led by Yitang Changhou Fund and Galaxy Holding Group, joined by Wuxi Liantai Private Equity Fund Management, Essence Capital, and existing shareholder Shanghai Zhangjiang Haoheng Innovation Equity Investment Management. Cista produces CMOS image sensors for mid- to high-end applications such as smartphones, security, automotive, IoT, and wearables. It recently taped out a 16MP 1.0μm pixel size high-resolution image sensor, with mass production scheduled for later this year. Funds will be used for hiring, new product development, and scaling up production. Founded in 2013, it is based in Shanghai, China.

    AlpsenTek raised nearly CNY 200.0M (~$30.0M) in Series A funding led by Oppo’s Xunxing Investment and Cowin Capital, with participation from ArcSoft Corporation, Sunny Optical Technology Industrial Fund, Glory Ventures, Lenovo Ventures, Shenzhen Angel FOF, and Zero2IPO Ventures. AlpsenTek develops hybrid image sensors that combine the traditional CMOS image sensor (CIS) and a biomimetic event-based sensor (EVS) at the pixel level to mimic the working principle of the retinal neurons in human eyes. The company says this provides high frame rate, high dynamic range, low power consumption, and low data redundancy. Applications include IoT, mobile phones, security, and automotive. It plans small-scale production of two integrated vision chips for high-end imaging and for IoT in 2022. Based in Beijing, China, it was founded in 2019.

    Sensel closed $18.8M in Series B financing led by manufacturing partner Global Lighting Technologies and joined by Lenovo. The PC manufacturer is also a customer of the startup. Sensel develops integrated touch-sensing, force-sensing, and haptics technologies. It offers thin touchpad modules for laptops and plans to expand to automotive, mobile, and other applications. As well as capacitive touch, it offers pressure grid touchpads for applications where users are likely to be wearing gloves or using it underwater. The investment will help the company bring its solutions to a wider range of PC models and rapidly scale manufacturing. Founded in 2013 and based in Sunnyvale, California, USA, it has raised over $57M to date.

    Nextiles drew $5.0M in seed funding led by Drive by DraftKings, with participation from the NBA, Madison Square Garden Sports Corp, Alumni Ventures, SmartSports, Phoenix Capital Ventures, Newlab, and individual investors including Hilary Knight. Nextiles combines traditional sewing techniques with flexible electronics to place sensors within fabrics that can capture a range of biometric and biomechanics data including raw forces, range of motion, and micromovements. The semiconductive smart threads are force-sensitive, washable, and can be sewn into any fabric including cotton, polyester, spandex, and nylon. Its target market is sportswear for athletes, with the first product, a compression sleeve for tennis and basketball players, planned for launch in a few months. “Our success has proven the need for a reliable and comfortable technology platform for athletes, so we’re excited to accelerate our expansion into other sports and launch new products later this year,” said George Sun, CEO and founder of Nextiles. Based in New York, New York, USA, it was founded in 2018 and has raised $6M to date.

    Canaery raised $4.0M in seed funding led by Breakout Ventures with participation from Dolby Family Ventures, KdT Ventures, and SOSV. Canaery has developed a digital scent-sensing platform that uses a neural interface it says can detect every scent that enters the natural olfactory system of a working animal and wirelessly transmit the chemical signatures to the cloud for processing. Special training of the animal is not required, which it says should eliminate accidental handler misdirection and enable detection of a wider array of chemicals. Funds will be used for hiring and R&D. Founded in 2020, it is based in Alachua, Florida, USA.

    Shengde Micro Integrated Circuit Technology raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in a Series A round from HikVision, WZ Group, and China Reform Holdings Corporation. The startup develops millimeter wave radar chips based on SiGe BiCMOS and CMOS processes for both consumer and automotive applications. It says its first-generation 76-81GHz transceiver has a transmit power of 16dbm and a receiver IF bandwidth of 40MHz, supports 6-bit phase control, and supports cascade mode, making it suitable for 4D imaging. Based in Beijing, China, it was founded in 2018.

    Security

    Binarly raised $3.6M in seed funding from WestWave Capital, Acrobator Ventures, and numerous individual investors. Binarly has a platform to address firmware supply chain security problems by identifying vulnerabilities, malicious firmware modifications, and providing firmware SBOM (software bill of materials) visibility without access to the source code. Founded in 2021, it is based in Los Angeles, California, USA.

    Xiphera received €0.5M (~$0.5M) in late seed funding led by Gorilla Capital, joined by Korpun Seed Ltd, Ääkköset Oy, and individual investors. Xiphera designs cryptographic IP cores for FPGAs and ASICs. It offers individual cryptographic primitives including block/stream ciphers, cryptographic hash functions, public-key cryptography, and random number generation that are tailored for high performance, low digital logic usage, or a balance. It also provides IP that supports complex security protocols and internally use a collection of cryptographic primitives. Funds will help with international growth. Founded in 2017, it is based in Espoo, Finland.

    Cycuity, formerly known as Tortuga Logic, raised new funding from Dorilton Ventures, Eclipse Ventures, and others. Cycuity offers security verification throughout the hardware product development lifecycle. It provides tools to help understand the security behavior of chip designs and make it possible to locate where all sensitive and secret data assets reside and travel to throughout the chip’s operation. “The security of hardware is a growing concern for the world’s largest semiconductor companies and their major customers, from the beginning of the microelectronic design cycle, through the verification process and into the wider supply chain,” said Daniel Freeman, General Partner at Dorilton Ventures. “Assurance has been severely disrupted by silicon shortages and other vulnerabilities in recent years. Cycuity is already making great strides in helping the microelectronic industry meet these challenges: systematically mitigating existing weaknesses in the cycle, identifying new ones, and providing quantifiable assurance.” Based in San Jose, California, USA, it was founded in 2014 and has raised $12M to date.

    Gaowei Cryptography Testing raised new funding from TusStar and Huaqing Cipher Technology. The company has a chip security testing and cryptography lab with side-channel attack equipment, fault injection attack equipment, cryptography assessment, and other software and hardware security analysis and testing equipment. It provides testing services for general chips as well as for IoT, industrial IoT, and automotive electronics. Founded in 2019, it is based in Shandong, China.

    Displays

    Levetop Semiconductor raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in pre-Series A funding from Goldport Capital and AVIC Fund. Levetop Semiconductor develops TFT LCD graphics acceleration controller chips and serial TFT panel controller chips for small- and medium-sized screens. It also offers 32-bit MCUs based on RISC-V and Cortex-M4, some with integrated Bluetooth. Funds will be used for hiring, expansion of production capacity, and new product development. It plans to expand to the home appliance market. Founded in 2011, it is based in Shenzhen, China.

    Ouyidi Semiconductor raised nearly CNY 10.0M (~$1.5M) in pre-Series A financing. Ouyidi is a manufacturer of mini-LED backlight chips and package-on-board mini-LEDs primarily for TVs. Based in Suzhou, China, it was founded in 2021.

    Shenzhen Best Chip & Display Semiconductor Technology (BCDTEK) received new investment from equipment supplier Advanced Micro-Fabrication Equipment (AMEC). BCDTEK develops and manufactures OLED driver ICs, silicon-based OLED micro-displays, and display driver boards, including LVDS, HDMI, Type-C, and embedded driver boards. It targets applications such as VR/AR, electronic viewfinders, micro projectors, helmet-mounted displays, and thermal imagers. Founded in 2020, it is based in Shenzhen, China.

    AR/VR

    Ximmerse raised CNY 125.0M (~$18.7M) in a Series A4 round from Zhongyuan Qianhai Equity Investment, Dynamic Balance Capital, Hongtai Jingying Investment Partnership, Telecom Ark Venture Capital, and 37 Lexin Fund. Ximmerse designs and manufactures mixed reality (MR) hardware, peripheral controllers, and software targeting a range of applications including training, education, digital marketing and exhibits, tourism, and consumer. It plans to launch a new version of its headset later this year. Founded in 2015, it is based in Guangzhou, China.

    Swave Photonics drew €7.0M (~$7.4M) in seed funding led by imec.xpand and Flanders Future Techfund, joined by QBIC Fund. Swave develops Holographic eXtended Reality (HXR) technology it says can provide lifelike, high-resolution 3D images without requiring viewers to wear smart AR/VR headsets or prescription glasses. Based on diffractive optics and manufactured using a standard CMOS process, it is planning to release chips in a large 2 cm x 2 cm version for ultra-high-end holographic displays and a small 0.5 cm x 0.5 cm version for ultra-light wearable devices. Initial chip samples are expected in 2023. “We are convinced that Swave’s transformative gigapixel holographic technology can fuel the $93 billion AR/VR, metaverse market and will position Swave to enable an upgrade to today’s challenging AR/VR immersive experiences,” said Peter Vanbekbergen, a partner at imec.xpand. Founded in 2022 as a spin-off of Imec and Vrije Universiteit Brussel, it is based in Leuven, Belgium.

    DPVR raised millions of dollars in venture funding led by Huaqiang Equity, joined by previous investors Qianyi Equity and Lianxin Funds Management Company. DPVR designs and manufactures standalone VR systems. It targets both consumer gaming as well as commercial and industrial applications such as training. It will release a new six degrees of freedom (6DoF) gaming headset later this year. Funds will be used for new product development and hiring. Founded in 2015, it is based in Shanghai, China.

    Angleyes Technology raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series A funding from Haoyun Technologies. The startup makes smart glasses for border security and police, as well as AR-enabled hard hats for industrial applications. Founded in 2010, it is based in Shenzhen, China.

    ADAS & autonomy

    Autra Technology raised CNY 200.0M (~$30.0M) in pre-Series A funding from Cathay Capital, Xianghe Capital, and BAI Capital. Autra Tech is developing L4 autonomous driving technology for logistics trucks. It is currently working to demonstrate that medium- and long-range routes normally requiring two drivers can be completed with one. Based in Beijing, China, it was founded in 2021.

    Minieye raised hundreds of millions of yuan (CNY 100.0M is ~$15.0M) in the third tranche of its Series D funding led by Cathay Capital, with participation from NIO Capital and Shenwan Hongyuan Group. The latest tranche brings its Series D total to CNY 800.0M (~$120.5M). Minieye offers pre-installed and aftermarket L1 and L2 assisted driving and parking systems to automakers, as well as in-cabin sensing systems. Its latest product is a L2+/L2++ driver assistance system that utilizes cameras, mmWave radar, and lidar. Minieye also plans to enter the low-speed fully autonomous driving market. Funds will be used for R&D and commercialization of advanced self-driving products. Founded in 2013, it is based in Shenzhen, China.

    Motovis raised hundreds of millions of yuan (CNY 100.0M is ~$15.0M) in Series C financing from auto parts maker Continental, GP Capital, Orca Capital, and others. Motovis integrates visual simultaneous localization and mapping (VSLAM) technology with deep learning to handle multiple cameras and provide heterogenous sensor fusion on low-power embedded chips for ADAS and self-driving applications. As part of the deal, Motovis and Continental will work together to develop and promote a cost-effective autonomous mobility solution that is appropriate for China’s roads and is applicable to all types of passenger cars, from lower-cost to high-end models. The system is expected to be used in models from Chinese passenger car OEMs for mass-production by 2023. Founded in 2015, it is based in Shanghai, China.

    Faction received a $0.1M grant from LG Nova. The startup is developing light three-wheeler electric vehicles that combine autonomous driving and teleoperation for urban deliveries and passenger services. Based in San Francisco, California, USA, it was founded in 2020.

    Geometrical Pal (G-PAL) received a strategic investment from SAE Industrial Consulting Services, a subsidiary of SAE International. G-PAL provides an L3 autonomous driving system, jointly developed with SAIC Motors, that uses 4D millimeter-wave imaging radar complemented by long-wave infrared and visual cameras with spatial analysis and decision software. G-PAL and SAE will work together on developing a high-performance full self-driving computing platform, along with related chips, software, and testing. The startup will also join SAE standards committees. Founded in 2018, it is based in Shanghai, China.

    Horizon Robotics received new strategic investment from automaker FAW Group. Horizon Robotics makes AI chips for L2-L4 ADAS and autonomous driving. The company says its third-generation chip, Journey 5, uses its Brain Processing Unit (BPU) accelerator architecture with highly parallel AI processing, systolic array of tensor cores for efficient CNN operations, and near-compute memory to offer up to 128 TOPS while consuming 30W in typical ADAS/AD usage. Horizon says it has signed pre-installation mass production projects for more than 70 models with more than 20 car companies, including FAW. Based in Based in Beijing, China, it was founded in 2015.

    Cowarobot received Series D1 funding from Asia Investment Capital. Cowarobot develops L4 autonomous systems for applications like smart street cleaning, intra-city logistics and delivery, and robotaxis. Founded in 2015, it is based in Shanghai, China.

    Auto components

    Pateo raised CNY 1000.0M (~$150.0M) in Series C funding from Shanghai Guosheng Capital, Jinggangshan Investment, and Ping An Insurance Group. Pateo offers in-vehicle infotainment and HMI hardware and software. Its products include primary navigation and entertainment displays, instrument cluster, and rear seat entertainment systems. Founded in 2009, it is based in Shanghai, China.

    Echodyne raised $135.0M in venture funding led by Baillie Gifford and Bill Gates with participation from Northrop Grumman Corporation, NEA, Madrona Ventures, Vulcan Capital, Vanedge Capital, and others. Echodyne develops radar systems using its metamaterials electronically scanned array (MESA) technology, which the company says uses standard PCB fabrication and assembly techniques and provides size, weight, power, and cost advantages over traditional ESA radar. It targets defense, security, and autonomous machine applications. Funds will be used to increase production and distribution as well as expand product lines. Founded in 2014, it is based in Kirkland, Washington, USA.

    Metawave Corporation received $26.0M in convertible note and debt financing from Astro Perkins and Black Dolphin. Metawave develops long-range imaging radar for the automotive, aerial, and defense industries. Its products include beamformer chips and integrated multi-channel, front-end beamforming antenna-in-package modules. It also offers a radar platform that combines analog front-end beamforming and steering AiP modules, hybrid MIMO architectures, and simplified back-end digital signal processing to provide 5D radar capabilities. In addition, it has a line of active repeaters and passive relays to extend indoor and outdoor 5G coverage. Funding will be used to deliver its 77GHz and 24GHz product lines. Founded in 2017, it is based in Carlsbad, California, USA, and has raised over $60M to date.

    Circulor raised $25.0M in Series B funding led by Westly Group, joined by HG Ventures and existing investors Volvo Cars Technology Fund, SYSTEMIQ Capital, Jaguar Land Rover’s InMotion Ventures, Future Positive Capital, BHP Ventures, Salesforce Ventures, and 24Haymarket. Circulor provides supply chain traceability software that tracks the provenance, production flow, and GHG emissions of raw materials used in complex supply chains like EV batteries, solar panels, automotive, and construction materials. Founded in 2017, it is based in London, UK.

    General Radar raised $22.0M in Series A funding led by Octave Ventures, joined by Disruptive Technology Advisors and Kleiner Perkins. General Radar develops high-resolution 3D phased-array radar systems for autonomy, aerospace and defense, wind energy, and weather markets. It uses solid-state active electronically scanned array (AESA) antennas and performs target imaging and identification using arbitrary waveforms and AI/ML. Founded in 2016, it is based in Belmont, California, USA.

    Raythink raised around $15.0M in a Series A+ funding round led by Chengwei Capital and joined by Unicom Innovation Venture Capital. Raythink develops automotive wide field-of-view AR HUDs (heads-up display), including optics, picture generation units (PGUs), software and SDK, algorithms, and hardware. It has three lines targeted for high-, medium-, and low-end vehicles and is planning to move to mass production. It is also working on an intelligent assistance solution for rail transportation, which it says is in field testing and expected to be deployed in China’s high-speed train network. Based in Shenzhen, China, it was founded in 2019.

    LNGIN Technology drew nearly CNY 100.0M (~$15.0M) in a Series A+ round from automaker Geely Technology Group and Qianhe Capital. LNGIN Technology uses nano-optical imaging and microstructure light field reconstruction technology to present 3D holograms. Its Aerial Holo Intelligent Display is targeted for in-vehicle smart cockpits. Geely incorporated it into a model last year and intends to bring it to more models in the future. Founded in 2017, it is based in Hangzhou, China.

    Greenstone Software raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series A+ funding from BlueRun Ventures. Greenstone develops basic software and communication middleware for automotive, including smart cars and ADAS. It says its Data Distribution Service-based middleware offers real-time, reliable transmission of key data while opening up multi-node communication in smart cars and can serve as the basis for a loosely coupled and extensible communication system architecture. It has a version specifically for computing units with limited resources. Based in Beijing, China, it was founded in 2020.

    Qixin Micro Semiconductor, also known as Flagchip As Flagship, received new investment from Kington Capital and Huawei’s Hubble Investment. The startup focuses on AEC-Q100 and ISO 26262 certified automotive chips, including a 32-bit MCU series based on Arm Cortex-M4. It is also working on domain controller and vehicle controller units. Founded in 2020, it is based in Suzhou, China.

    RoboSense raised new funding led by China Renaissance, Hubei Xiaomi Changjiang Industrial Investment Fund, and Chinese bus manufacturer Yutong Bus, joined by YF Capital, BYD Group, Desay SV Automotive, Greenwoods Investment, Kinzon Capital, and others. RoboSense makes systems incorporating lidar sensors, SoC, and AI perception software. It provides an automotive-grade lidar using MEMS-based sensors that covers both near and far sensing. The company also makes a wide range of mechanical lidar systems for a variety of applications including low and mid-speed robotics, blind spot detection, and roadside monitoring. It has partnerships with automakers including BYD and GAC and plans to start mass production of lidar for consumer vehicles later this year. Founded in 2014, it is based in Shenzhen, China.

    Zhixin Semiconductor received Series A financing from investors including Tianjin Bohai Fund, Forebright Capital, MTM Capital, and iFLYTEK. The startup develops low-end to high-end automotive MCUs as well as analog and mixed-signal ICs for applications such as comfort control, powertrain, security, infotainment, and cluster connectivity. Based in Tianjin, China, it was founded in 2019.

    Batteries

    Enpower Greentech raised $20.0M in Series A+ funding led by Sequoia China and Dayone Capital, joined by GAC Capital, BR Capital, Tianqi Capital, and Niuli Venture. Enpower develops lithium metal anode-based batteries and sulfide-electrolyte-based all-solid-state batteries. It has manufactured a 1.2Ah/3.6Ah/10Ah class pouch cells and cylindrical cells of lithium metal batteries with energy densities up to 520 Wh/kg and 1100 Wh/L. It primarily targets drone and EV markets. Founded in 2012, it is based in San Jose, California, USA.

    Connected Energy raised £15.0M (~$18.2M) in venture funding from Caterpillar Venture Capital, Hinduja Group, Mercuria, OurCrowd, and Volvo Energy. Connected Energy uses electric vehicle batteries at the end of their in-car life to create energy storage systems, extending the life of EV batteries by up to 10 years. The company’s modular E-STOR storage system capacity starts at 300kW and 360kWh with clusters available for larger industrial and commercial customers. Funds will be used to scale up technology and operations and facilitate development of its first large scale system with a planned capacity around 20MW and 40MWh. “There is a great deal of untapped potential in the second-life use of batteries. This forward-leaning investment aims to facilitate the scaling-up of second-life battery energy storage systems and further secure circular business opportunities for the forthcoming ramp-up in Volvo Group’s second-life battery returns,” said Joachim Rosenberg, president of Volvo Energy. Founded in 2010, it is based in Newcastle Upon Tyne, UK.

    Talent New Energy raised hundreds of millions of yuan (CNY 100.0M is ~$15.0M) in Series A++ financing led by CICC Capital and China Merchants Venture, with participation from Tsari Capital, Guoding Capital, and Legend Capital. Talent New Energy develops and manufactures semi-solid lithium batteries, which it says are safer with higher energy density, charging rate, and cycle life compared to traditional Li-ion batteries. It has a 200MWh battery production line that will start production in July 2022 to make batteries for electric vehicles, e-bikes, and robotics. The startup plans to begin work on a 1GWh production line at the end of this year or early next year, with a 10GWh capacity plant slated to start construction next year. Funds will be used to establish a research center in Beijing, build production lines, and hire. Founded in 2018, it is based in Beijing, China.

    ProLogium Technology raised tens of millions of dollars from CRFM (China Reform Holdings Corporation). ProLogium develops and manufactures solid-state batteries including with silicon anode, lithium metal anode, and bipolar technology. It makes batteries in a range of form factors, including flexible packages for IoT and wearables, and pouch batteries for automotive, automated guided vehicles, consumer, and industrial applications, and modules. Funds will be used for mass production and capacity expansion of EV batteries in Asia, with CRFM acting as a key partner in the region. “Solid-state battery enjoys greater advantages over LFP and NCM batteries as it delivers higher safety performance over LFP and enables higher energy density over NCM,” said Vincent Yang, ProLogium founder and CEO. “ProLogium’s GWh-level plant is underway and is expected to be fully operational by the end of 2022.” Based in Taipei, Taiwan, it was founded in 2006.

    The Batteries closed a $8.2M Series A round led by Aper Ventures and joined by JR Holding, InnoEnergy, and UAB Electronics System. The startup manufactures thin-film solid-state lithium-ion batteries in multiple form factors. Its battery uses a high crystallinity LiCoO2 cathode, a lithium anode, and a LiPON electrolyte, a combination it says increases energy density, operation temperature range, and safety while reducing charge time and self-discharge rate compared to conventional Li-ion/Li-polymer battery cells. It targets applications such as IoT devices, industrial sensors and beacons, smartphones, tablets, and wearables. Funds will be used to build a production line. Founded in 2015, it is based in Rzeszow, Poland.

    Taogent Intelligent Equipment raised CNY 50.0M (~$7.5M) in a Series A round led by Addor Capital and Qitai Capital, joined by Tsing-Yuan Capital and others. Taogent develops automated production lines for manufacturing of lithium-ion battery electrode materials. It also offers systems for handling of powder materials and food additives. Funds will be used for R&D, hiring, and factory construction. Founded in 2014, it is based in Changzhou, China.

    Posh raised $3.8M in seed funding from Y Combinator, Metaplanet, Outbound Capital, Starling Ventures, Uphonest Capital, Global Founders Capital, Helium-3 Ventures, and others. Posh provides automated EV battery disassembly for recycling or repurposing. It says its combination of robotics and computer vision can deal with the variations in battery pack design that are difficult for traditional automation methods. Founded in 2021, it is based in Hayward, California, USA.

    NEU Battery Materials drew SGD 0.8M (~$0.6M) in seed funding from Momentum Venture Capital, battery recycling company Se-cure Waste Management, the NUS Graduate Research Innovation Programme, and angel investors. NEU Battery Materials is bringing to market an electrochemical redox flow recycling process for lithium iron phosphate batteries. The startup says its recycling process produces near-zero waste with minimal carbon emissions and results in battery-grade lithium. Funds will be used to build a pilot recycling plant in Singapore to recycle lithium from used batteries, which will be able to process approximately 150 tonnes of lithium batteries a year. Founded in 2021, it is based in Singapore.

    Haodyne Technology received strategic investment from battery maker EVE Energy. Haodyne manufactures lithium-ion battery materials, including binders for graphite anodes, silicon-based anodes, and cathodes, as well as functional binders for coated separators, coated current collectors, and conductive dispersion material. It operates two R&D labs and one pilot plant covering synthesis and characterization of polymers, battery production, and electrochemical evaluation. Founded in 2011, it is based in Shenzhen, China.

    Battery recycling startup Metastable Materials received pre-seed funding from angel investors including Akshay Singhal, Kartik Hajela, Archana Priyadarshini, and Sanjiv Rangrass. Metastable Materials extracts useful elements including copper, aluminum, cobalt, nickel, and lithium from end-of-life batteries using a method it says is chemical-free and eco-friendly. Founded in 2021, it is based in Bengaluru, India.

    TeraWatt Technology raised Series B funding led by Temasek, joined by new investors Coral Capital and Daikin as well as previous investors including Khosla Ventures, JAFCO, and Scrum Ventures. TeraWatt develops lithium-ion batteries that combine high energy density with high power density under wider operating temperatures and moderate external pressures. It targets applications such as automotive, drones, and eVTOL aircraft. “We are thrilled to move forward, with this Series B funding, to accelerate the development and production of our commercial-grade cells at scale with precision and safety,” said TeraWatt Technology founder CEO Ken Ogata. Based in Santa Clara, California, USA, it was founded in 2020.

    Table

    Selected companies that raised funds in June 2022.

    Company Sector Amount Raised (M, USD) Funding Type Headquarters
    CanSemi Manufacturing $671.9 Venture China
    MegaRobo Technologies Equipment $300.0 Series C China
    UniVista Industrial Software Group EDA $164.3 Pre-A China
    Pateo Auto Components $150.0 Series C China
    Echodyne Auto Components $135.0 Venture USA
    Vayyar Imaging Sensor $108.0 Series E Israel
    MEMSonics AMS $89.7 Series B China
    Semitech CIM/MES $80.6 Series A++, B China
    SiFusion Materials $75.0 Venture China
    TBSTest Technologies ATE $74.7 Venture China
    UnitySC Inspection $51.4 Venture France
    Rebellions AI HW $50.0 Series A South Korea
    Cista Design Sensor $44.8 Series C2 China
    Arduino Dev Board $32.0 Series B Italy
    Quenergy Semi Power Semi $30.0 Angel China
    AlpsenTek Sensor $30.0 Series A China
    Autra Technology ADAS & Autonomy $30.0 Series A China
    Metawave Corporation Auto Components $26.0 Note, Loan USA
    Circulor Auto Components $25.0 Series B UK
    General Radar Auto Components $22.0 Series A USA
    Enpower Greentech Batteries $20.0 Series A+ USA
    Sensel Sensor $18.8 Series B USA
    Ximmerse AR/VR $18.7 Series A4 China
    Connected Energy Batteries $18.2 Venture UK
    Resnics DPU $15.0+ Series A China
    NextVPU AI HW $15.0+ Series C China
    Ada Intelligent Equipment Equipment $15.0+ Series B China
    Luxin Semi Power Semi $15.0+ Series D China
    Minieye ADAS & Autonomy $15.0+ Series D China
    Motovis ADAS & Autonomy $15.0+ Series C China
    Talent New Energy Batteries $15.0+ Series A++ China
    iTest Semiconductor Test $15.0 Series A China
    NCAtest Technologies ATE $15.0 Venture China
    INS Inspection $15.0 Series A+ China
    Cronus Technology Equipment $15.0 Series B China
    MIG Semi Materials $15.0 Series A China
    CrossChip MicroSystems AMS $15.0 Series A China
    EasyPower Semiconductor AMS $15.0 Series B China
    ORCA Computing Quantum $15.0 Series A UK
    Raythink Auto Components $15.0 Series A+ China
    LNGIN Technology Auto Components $15.0 Series A+ China
    Scintil Photonics Photonics $14.4 Venture France
    Opteran AI HW $12.0 Venture UK
    ProLogium Technology Batteries $10.0+ Venture Taiwan
    The Batteries Batteries $8.2 Series A Poland
    QuantWare Quantum $8.1 Grant Netherlands
    Taogent Intelligent Equipment Batteries $7.5 Series A China
    Tauren Semiconductor AMS $7.4 Venture China
    Swave Photonics AR/VR $7.4 Seed Belgium
    Geminus Manufacturing $5.9 Seed USA
    EvolutionQ Quantum $5.5 Series A Canada
    Nextiles Sensor $5.0 Seed USA
    Planqc Quantum $4.8 Seed Germany
    Canaery Sensor $4.0 Seed USA
    Posh Batteries $3.8 Seed UKA
    Binarly Security $3.6 Seed USA
    Photo electron Soul Inspection $3.0 Venture Japan
    Synteris Power Semi $2.7 Grant USA
    Hercules Microsystems FPGA $1.5+ Venture China
    Terapark Technology Inspection $1.5+ Pre-A China
    Vomma Technology Inspection $1.5+ Pre-A+ China
    Linkwise Technology Equipment $1.5+ Series A China
    Bama Superconductive Equipment $1.5+ Series A+ China
    Ultron Photonics Equipment $1.5+ Series A+ China
    Wintime Semiconductor Equipment $1.5+ Angel China
    Foshan Nanotech Materials $1.5+ Angel China
    Grand Microelectronics AMS $1.5+ Series A China
    CoolSemi Power Semi $1.5+ Pre-A China
    InverTek Power Semi $1.5+ Series A China
    Puxi Optics Power Semi $1.5+ Pre-A China
    Senmu Leishi Technology Power Semi $1.5+ Venture China
    Top Electronics Power Semi $1.5+ Angel China
    Shanhe Photonics Photonics $1.5+ Pre-A China
    Shengde Micro Integrated Circuit Technology Sensor $1.5+ Series A China
    Levetop Semiconductor Display $1.5+ Pre-A China
    Angleyes Technology AR/VR $1.5+ Series A China
    Greenstone Software Auto Components $1.5+ Series A+ China
    Ouyidi Semiconductor Display $1.5 Pre-A China
    BCDTEK Display $1.5 Venture China
    DPVR AR/VR $1.0+ Venture China
    Winco Semiconductor Photonics $0.8 Angel China
    Mekr Technologies Manufacturing $0.7 Seed India
    Riverlane, Rigetti Computing Quantum $0.6 Grant UK, USA
    NEU Battery Materials Batteries $0.6 Seed Singapore
    Xiphera Security $0.5 Seed Finland
    Seeqc Quantum $0.4 Grant USA
    Faction ADAS & Autonomy $0.1 Grant USA
    Dayu Technology DPU Undisclosed Venture China
    Xinshijie Semiconductor Technology CPU Undisclosed Venture China
    NeuReality AI HW Undisclosed Venture Israel
    Intento Design EDA Undisclosed Venture France
    Monozukuri EDA Undisclosed Strategic Italy
    MaxOne Semiconductor Test Undisclosed Series B China
    Peach Automation Equipment Undisclosed Series A China
    TYSiC Materials Undisclosed Venture China
    KTD Electronics AMS Undisclosed Venture China
    Basic Semiconductor Power Semi Undisclosed Series C2 China
    ShiningIC Power Semi Undisclosed Series B China
    Trimitec Power Semi Undisclosed Series A China
    ZMH Semi Power Semi Undisclosed Pre-A China
    NLM Photonics Photonics Undisclosed Strategic USA
    Cycuity Security Undisclosed Venture USA
    Gaowei Cryptography Testing Security Undisclosed Venture China
    Geometrical Pal ADAS & Autonomy Undisclosed Strategic China
    Horizon Robotics ADAS & Autonomy Undisclosed Strategic China
    Cowarobot ADAS & Autonomy Undisclosed Series D1 China
    Flagchip As Flagship Auto Components Undisclosed Venture China
    RoboSense Auto Components Undisclosed Venture China
    Zhixin Semiconductor Auto Components Undisclosed Series A China
    Haodyne Technology Batteries Undisclosed Strategic China
    Metastable Materials Batteries Undisclosed Seed India
    TeraWatt Technology Batteries Undisclosed Series B USA

    Funds & investors

    GF Xinde Investment set up a new CNY 3.0B (~$450.0M) fund to invest in startups in the new energy industry, including energy storage for renewable energy generation, hydrogen energy, and emerging technologies. It has previous backed numerous startups developing EV batteries.

    Robert Bosch Venture Capital is setting up a new €250.0M (~$268.2M) fund. The investor focuses on technology startups including in AI, IoT, semiconductor, quantum computing, climate-neutral technology, sustainable mobility, and connectivity. Along with funding and operational support, it provides startups the opportunity to become a supplier, customer, or technology partner of Bosch.

    America’s Frontier Fund launched as a non-profit strategic investment fund focused on deep tech companies and platforms in the United States. The fund’s initial areas of focus will include microelectronics, artificial intelligence, new materials, quantum sciences, 5G/6G, advanced manufacturing, and synthetic biology. It says it has developed a method that leverages backcasting and multi-dimensional analyses to examine promising technologies from scientific, market demand, geopolitics, and economic perspectives.

    AI applications

    In June investors funded a wide range of companies using AI in products and services. Two areas with multiple large investments were data management and retail. Here are some of the month’s largest rounds.

    • AlphaSense raised $225.0M in Series D to use AI to provide a platform that indexes and searches business intelligence and financial analysis.
    • Zoovu raised $169.0M in Series C for its e-commerce platform that enables B2C and B2B companies to provide customized product information to buyers.
    • Metropolis raised $167.0M in Series B for its parking garage management platform that allows users to passively pay when leaving a pay parking area.
    • Ataccama raised $150.0M in venture funding for its platform that unifies data governance, data catalog, data quality, and master data management functions across hybrid and cloud environments.
    • Coralogix raised $142.0M in Series D for its observability platform that allows DevOps teams to analyze data streams to find and fix technical and security issues in their IT infrastructure.
    • Aidoc raised $110.0M in Series D for its healthcare AI platform that manages the patient lifecycle, including diagnostic aid, suggested treatment paths, and patient follow-up tools.
    • LegalForce raised $101.1M in Series D to enable legal firms to review contact documents using natural language processing.
    • Nfinite raised $100.0M in Series B for its software for e-commerce retailers to create, display, and manage 3D product visuals.

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