MOCVD equipment company Blue River Technology completes hundreds of millions of yuan in Series B6 financing.
Lanhe Technology (Shaoxing) Co., Ltd., a prominent manufacturer of MOCVD (Metal Organic Chemical Vapor Deposition) equipment, has successfully completed its B6 financing round, raising hundreds of millions of RMB. The investment was led by the China Internet Investment Fund, with participation from institutions such as Taida Sci-Tech Innovation and Changjiang Innovation. This latest funding milestone underscores the strong support Lanhe Technology continues to receive from both industrial and financial investors, significantly bolstering the domestication process of core equipment for compound semiconductors in China.
MOCVD technology is critical for the epitaxial growth required in manufacturing compound semiconductors, which are essential for high-end devices like optical communication chips, power semiconductors, and space photovoltaic cells. Historically, the global high-end MOCVD market has been dominated by a duopoly of Germany's Aixtron and America's Veeco, leaving China with a localization rate of less than 10% in advanced applications such as GaN power devices. As the only domestic company achieving mass shipments across a full material system, Lanhe Technology has built a comprehensive equipment platform covering second-generation (InP/GaAs), third-generation (GaN/SiC), fourth-generation (Ga₂O₃, AlN), and two-dimensional thin-film materials, serving over 50 industrial clients and 40 research institutes with more than 150 units shipped.
The current surge in demand for domestic MOCVD equipment is primarily driven by breakthroughs in optical communications and space photovoltaics. Lanhe Technology’s DR and CS series equipment have been widely adopted by leading industry players in optical communications, while its GaAs-based space photovoltaic MOCVD systems are seeing bulk shipments to support the low-orbit satellite internet sector. The newly raised funds will be strategically allocated to core process iterations, capacity expansion, and R&D team growth, aiming to accelerate industrial verification and mass delivery of various equipment models, thereby breaking foreign monopolies and enhancing the autonomy and security of China’s compound semiconductor supply chain.