Matrix leads $73m Series C for China’s Semi-Tech

Other participants include government-linked investor G60 Science & Technology Fund, Yangguang Renfa - a fund launched by Shenzhen-listed Sungrow Power Supply and Hefei Renfa Energy Investment - and Shanghai-listed Lion Electronics. In addition, existing investor Skyview Fund re-upped.

In July 2022, Semi-Tech raised CNY 540m (USD 81m) across two rounds - the second extended tranche of a Series A and a Series B. Skyview contributed capital alongside the likes of China Internet Investment Fund, electric vehicle manufacturer BYD, GL Ventures, Shanghai STVC Group, and Shanghai FTZ Fund.

The company was formed through the merger of a software developer and an integrated solutions provider to the semiconductor industry. It aims to offer a one-stop solution for semiconductor manufacturing, working with upstream and downstream partners.

Its core product is a computer-integrated manufacturing (CIM) solution, which combines various technologies to ensure an error-free manufacturing process. Semi-Tech's capabilities encompass manufacturing execution systems (MES), equipment automation programmes (EAP), real-time scheduling (RTS), test management, and smart monitoring.

The company claims to be the first domestic player to provide a complete set of fully automated manufacturing software solutions for 12-inch wafers. The CIM has now been proven in seven fabrication lines, according to a statement.

Semi-Tech has also launched an industrial investment fund of CNY 1bn that will focus on the semiconductor smart manufacturing value chain.

The company is one of many private equity-backed players pursuing a domestic substitution theme in the semiconductor space. Most of the smart manufacturing software used in wafer factories in China comes from overseas.

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• Topics
• Greater China
• Technology
• Expansion
• China
• Matrix Partners
• semiconductor