Matrix backs $139m round for China semiconductor start-up Echint

Matrix’s co-lead in the deal is Beite Investment, a unit of state-owned semiconductor manufacturer Chengdu High-tech Development. They were joined by state-owned JIC Investment, automobile-focused Shang Qi Capital, and Chengdu Science & Technology Venture Capital. Ten renminbi-denominated funds also participated in the round, according to a statement.

It comes two months after Eswin raised a CNY 3bn Series D led by Beijing Financial Street Operation Center. That round followed a CNY 4bn Series C in 2022 and a Series B of CNY 2bn led by IDG Capital and Legend Capital in 2020.

Eswin was founded in 2016 and is chaired by Dongsheng Wang, who founded a leading display company called BOE in 1993 and is regarded as a pioneer in China’s semiconductor display industry.

Eswin’s initial focus was on integrated circuits (IC) and services in three core areas: display, artificial intelligence (AI) data processing, and wireless connectivity. Application areas include mobile devices, smart homes, smart transportation, and industrial internet-of-things.

The company has shifted from chip design to chip manufacturing and is now one of the few companies in China that can produce 12-inch large silicon wafers. The core businesses are now ICs and related solutions, silicon materials, advanced packaging, and testing.

Echint represents Eswin’s expansion into semiconductor packaging and testing. Last April, Echint launched a production facility in Chengdu with an overall expected investment of CNY 5.5bn. The project has entered its proof-of-concept and trial mass production period.

Lighthouse Capital is the exclusive financial advisor of Echint's Series B. 

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• Topics
• Greater China
• Early-stage
• Technology
• Industrials
• China
• Matrix Partners
• semiconductor