Materials
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.
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.
EDA
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.
