June saw several large funding rounds, with seven of at least $100 million. Over half a billion dollars alone went to a Chinese company manufacturing silicon carbide (SiC) power semiconductors. The wide band gap material has seen steady interest from investors, particularly for its potential use in electric vehicles.

Another of the month’s mega-rounds went to a company designing RISC-V SoCs for IoT applications. Elsewhere in chip design, startups continue to innovate in the variety of approaches to building hardware for AI acceleration.

Photonics remains hot. Following several investments in the space in May, June saw a company developing optical interconnects draw a $100 million round. In the equipment field, both atomic layer deposition and additive manufacturing were active areas, with several companies raising fresh funding.

Plus, chips in space, robotaxis, quantum software, embedded FPGAs, and augmented reality feature in this look at 143 companies that collectively raised $3.5 billion in June.

Chip design

Eswin Computing, a division of Eswin Technology, raised over CNY 3000.0M (~$421.2M) in Series D financing from Beijing Financial Street Capital, E-town Capital, Sino-Sin Capital, GF Qianhe, JIC Group, National Integrated Circuit Industry Investment Fund, Goldport Capital, CDHT Investment, Jadestone Capital, Orinno Capital, Cloudwalk Technology, and others. Eswin Computing develops RISC-V CPU SoCs and MCUs. Its 32-bit embedded processors target applications such as electronic tags and wireless communication, while its 64-bit application processors target smart TVs and set-top boxes, AIoT, smart home, edge computing, and automotive applications. It also makes display and touch driver chips along with power management chips. Eswin Technology provides packaging and testing services including wafer gold bump processing, wafer testing, grinding, cutting, packaging, and final testing, while Eswin Material makes 12-inch monocrystalline silicon polished wafers and epitaxial wafers. Funds will be used for R&D. Founded in 2019, it is based in Beijing, China.

Ramon.Space raised $26.0M in funding from server company Ingrasys, the Strategic Development Fund, and existing investors Grove Ventures, Deep Insight, and UMC Capital. Ramon.Space develops a space-resilient computing platform. It includes virtual radiation-hardened storage, manycore ML/AI/DSP processing, and communication products that can handle large amounts of data and enable more sophisticated software to run on satellite payloads and deep space operations. The company noted that its technology has already been deployed in numerous satellites and space missions. Funds will be used to scale its operations. Founded in 2004, it is based in Los Altos, California, USA.

CIX Technology raised hundreds of millions of yuan (CNY 100.0M is ~$14.0M) in Series A funding led by Tongge Venture Capital and 37 Interactive Entertainment, joined by Cathay Ventures, Cherami Investment Group, Nio Capital, Qiming Venture Partners, and others. CIX is developing intelligent CPU SoCs and computing solutions compatible with the Arm instruction set and focused on performance and efficiency. It targets high-end tablet computers, notebooks, desktops, AR/VR, and automotive cockpits. Funds will be used for design and development of a new generation of chips as well as market expansion. Based in Shanghai, China, it was founded in 2021.

Zero-Error Systems (ZES) raised $7.5M in Series A funding from Airbus Ventures, the Dart Family Office, and others. The startup makes high-reliability ICs for space, such as satellites and rovers, as well as for various power management applications, automotive, aviation, robotics, and IoT. Its solutions include monolithic radiation-hardened latchup detection and protection (LDAP) ICs to detect and protect commercial-off-the-shelf (COTS) ICs against single event latchup (SEL), radiation hardened by design (RHBD) library cells, power management solutions, and reliability testing services. “Our capabilities address essential power reliability and data integrity concerns by safeguarding COTS semiconductor devices from malfunctions with our patented radiation hardening technologies,” said Shu Wei, CTO and co-founder of ZES. A spin out from Nanyang Technological University Singapore founded in 2019, it is based in Singapore.

Rapid Flex drew over CNY 30.0M (~$4.2M) in seed funding led by Chengwei Capital. Rapid Flex develops programmable SoCs and domain-specific embedded FPGAs (eFPGA) with customized FPGA fabric. The startup uses an Agile methodology for hardware development combined with tools for the automated design, verification, and layout of versatile FPGA architectures. Based on the OpenFPGA project, its tools include a high-level architecture description language for users to customize their FPGA architectures down to circuit-level details, automatic generation of Verilog netlists, and a generic Verilog-to-Bitstream generator. Funds will be used for verification and tape out of its programmable SoC. Founded in 2021, it is based in Shanghai, China.

AI hardware

Tachyum received a €26.4M (~$28.5M) grant from the European Commission. Tachyum develops a processor architecture that combines the functionality of CPU, GPGPU, and TPU into a single chip. Designed for high-performance computing, AI, and general data center workloads, the startup says its chip, which integrates 128 high-performance custom-designed 64-bit compute cores, can enable data center servers to seamlessly and dynamically switch between computational domains. The funds will support delivery of its processor, which is expected to begin tape out soon. Founded in 2016, it is based in Bratislava, Slovakia.

SiMa.ai raised $13.0M in new funding that included VentureTech Alliance and individual investor Navin Chaddha. SiMa.ai builds hardware and software for machine learning workloads at low power. The startup’s initial focus is computer vision applications at the embedded edge for sectors such as security cameras, robotics and Industry 4.0, drones, autonomous vehicles, healthcare, and government. Its software-centric MLSoC platform aims to be a simple way to deploy and scale edge ML and includes computer vision processors, video encoder/decoder, ML accelerator, and application processors. Available as an SoC and PCIe-based production boards, the platform can be used either as a standalone edge-based system controller or as a ML offload accelerator for processors and ASICs. SiMa.ai’s edge software development environment includes support for multiple ML models and ML pipelines for functional evaluation, performance testing, and tuning. Founded in 2018 and based in San Jose, California, USA, it has raised $200M to date.

Normal Computing raised $8.5M in seed funding led by Celesta Capital and First Spark Ventures, with participation from Micron Ventures. Normal Computing is developing full-stack probabilistic compute infrastructure for AI in critical and complex applications. The approach centers on thermodynamic AI hardware with an architecture based on noisy analog circuits that are inherently stochastic. The startup says that the randomness of modern, physics-inspired AI algorithms (including generative diffusion models, Bayesian neural networks, and simulated annealing) makes them well suited for a system that uses noise as a key element of computation. It is also creating a digital software stack for running AI applications and training and optimizing the hardware. Normal Computing claims its probabilistic AI can address the issue of hallucinations by enabling models to detect when they synthesize inaccurately by generating probable, auditable explanations of how they reached a conclusion. It is initially targeting sectors like semiconductor manufacturing, supply chain management, banking, and government agencies. Founded in 2022, it is based in New York, New York, USA.

Calculet Semiconductor drew tens of millions of yuan (CNY 10.0M is ~$1.4M) in seed funding led by Innoangel Fund, joined by Zhongguancun Development Group, Zero2IPO Ventures, Tsinghua Capital, and CasStar. Calculet is developing AI processor chiplets designed for multi-modal large-scale models. The startup says its chiplet-based methodology enables quick and flexible configuration of edge AI chips for different application requirements, such as automotive. Funds will be used for hiring and R&D. Founded in 2023, it is based in Beijing, China.

NeuReality received grant and equity financing from the European Innovation Council Accelerator. NeuReality makes purpose-built AI platforms optimized for deep learning inference use cases such as computer vision, natural language processing, and recommendation engines in data centers and near-edge on-premises locations. The startup says its Network Addressable Processing Units (NAPU) reduce the dependency on CPUs, NICs, and PCI switches and moves simple but critical data path functions from software to hardware. NeuReality claims its upcoming chip 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. Founded in 2019, it is based in Caesarea, Israel.

EDA

JuliaHub received $13.0M in strategic investment led by AEI HorizonX. JuliaHub provides a platform for technical computing, scientific machine learning, and multiphysics modeling. For semiconductors, it offers a fully differentiable SPICE simulator and analog verification environment. Founded in 2015, it is based in Cambridge, Massachusetts, USA.

Terapines Technology raised tens of millions of yuan (CNY 10.0M is ~$1.4M) in angel financing led by Luojia Capital, joined by Chushang Venture Capital and Planck Venture Capital. Terapines develops RISC-V software toolchains, including C/C++ compilers, DSP library, debugger and simulator, an automotive functional safety inspection tool for MISRA C, and IDE. It is also working on virtual prototyping solutions for hardware/software co-design and an operating system. Founded in 2019, it is based in Wuhan, China.

Lubis EDA received a grant from the European Innovation Council Accelerator. Lubis EDA offers formal verification services. Its methodology uses self-developed software that automates the process of generating SystemVerilog Assertions (SVA) properties. The company also provides formal verification training. Founded in 2021, it is based in Kaiserslautern, Germany.

Manufacturing & equipment

Forge Nano raised over $50.0M in Series C funding led by Hanwha Aerospace with participation from Orion Infrastructure Capital, Catalus Ventures, Ascent Funds, and existing investors. Forge Nano develops atomic layer deposition (ALD) and particle atomic layer deposition (PALD) equipment for coating wafers, powders, and objects at both R&D and commercial scales. The company claims its technology is faster and more energy, chemical, and material efficient than conventional ALD. For semiconductors, the technology can create hermetic, pin-hole free, low-stress thin films with high uniformity and precision for a range of applications, from 75-200mm wafers to fully assembled semiconductor packages ready for hermetic packaging. For batteries, Forge Nano offers a coating process to improve capacity and durability of lithium-ion batteries by protecting against first cycle capacity loss and unwanted reactions, as well as acting as a firewall that resists thermal runaway reaction. It also has applications in coating powders used in 3D printing, catalysts, and pharmaceuticals. Funds will be used for construction of a pilot battery production line. Founded in 2011 based on research from the University of Colorado, it is based in Thornton, Colorado, USA, and has raised more than $95M to date.

Boston Micro Fabrication (BMF) raised CNY 160.0M (~$22.4M) in Series D financing led by China Development Bank Capital and Guotai Junan Securities Assets Management, joined by ZJ Innopark. BMF provides microscale 3D printing systems using its Projection Micro Stereolithography (PµSL) technology that enables parts to be produced with resolutions down to 2μm and tolerances of +/- 10µm. It uses UV for rapid photopolymerization of an entire layer of liquid polymer resin. BMF’s systems can be used for additive manufacturing of electronic components and MEMS, as well as applications such as medical devices, optics/photonics, microfluidics, and research. Based in Maynard, Massachusetts, USA, it was founded in 2016.

Sourcemap drew $20.0M in Series B investment led by Energize Ventures with participation from E14 Fund. Sourcemap provides due diligence software for mapping and monitoring of supply chains down to raw materials, including for identification and avoidance of conflict minerals. Among a wide range of materials and industries, it tracks those used in electronics industries including tantalum, tin, tungsten, gold (3TGs), cobalt, copper, neodymium, palladium, and platinum. Funds will be used for global expansion and to add business-critical solutions to its software suite. Founded in 2011, it is based in New York, New York, USA.

Fortify raised $12.5M in funding from investors including Lockheed Martin Ventures and Raytheon’s RTX Ventures. Fortify provides an additive manufacturing platform and composite materials for complex structures with unique mechanical, electrical, thermal, and electromagnetic properties. Its platform can create 3D printed RF components using a low-loss polymer blended with specialty dielectric ceramic additives for use in high-bandwidth, high-frequency radar and communications systems. Features can be printed as small as 225 microns with resolution and surface roughness tailored for wide-band mmWave applications. Fortify also produces high-temperature ESD materials, technical ceramics, injection mold tools, and other parts for use in digital tooling, medical devices, electronics, aerospace, and defense. Funds will be used to expand its capabilities and accelerate the development of its manufacturing platform. Founded in 2016, it is based in Boston, Massachusetts, USA.

Xinxiang Technology raised hundreds of millions of yuan (CNY 100.0M is ~$14.0M) in Series B financing led by Everest VC, joined by Xin Ding Capital, GF Qianhe, Yunhe Capital, and existing investors. Xinxiang Technology provides computer integrated manufacturing (CIM) solutions for 8- and 12-inch semiconductor factories, including manufacturing execution systems (MES), equipment automation platforms (EAP), real-time multiprocessor systems (RTS), statistical process control (SPC), and parts management. It also offers customized CIM solutions, including software, hardware, and on-site implementation. Funds will be used for R&D and overseas expansion. Based in Wuxi, China, it was founded in 2018.

Yunmao Technology raised hundreds of millions of yuan (CNY 100.0M is ~$14.0M) in Series A+ and B rounds with investors including Sunny Optical Technology, Sequoia Capital China, Ginkgo Valley Capital, Guoqian Capital, and Changjiang Securities. Yunmao provides thin film deposition equipment. Its product lineup includes atomic layer deposition (ALD), physical vapor deposition (PVD), chemical vapor deposition (CVD), and ultra-high vacuum coating (UHV) equipment. It targets semiconductor, display, lithium battery, photovoltaic, and power device manufacturing. Funds will be used for R&D and to accelerate mass production. Founded in 2018, it is based in Xiamen, China.

Turin Robot received nearly CNY 100.0M (~$14.0M) in Series A funding. The company manufactures robotic systems for a range of industries, including consumer electronics assembly and semiconductors. Founded in 2007, it is based in Shanghai, China.

Gaianixx raised 1000.0M yen (~$6.9M) in Series B funding from the University of Tokyo Edge Capital Partners, JX Nippon Mining & Metals Corporation, i-nest Capital, and JSR Active Innovation Fund. Gaianixx has developed an epitaxy technology for growing high quality single crystals in a multilayer structure using a dynamic lattice matching mechanism. Its multifunctional interlayer technology has applications in semiconductor wafers, including for MEMS, power devices, and LEDs, as well as piezoelectric and ceramic films. Funds will be used for R&D and hiring. Founded as a spin out from the University of Tokyo in 2021, it is based in Tokyo, Japan.

Advance Foundation Semiconductor Material received tens of millions of yuan (CNY 10.0M is ~$1.4M) in funding from Fosun Capital. The company makes quartz consumables for semiconductor, photovoltaic, and LED manufacturing. Founded in 2017, it is based in Shenyang, China.

SiCentury raised tens of millions of yuan (CNY 10.0M is ~$1.4M) in financing that included Addor Capital and Haifu Industrial Investment. SiCentury develops silicon carbide chemical vapor deposition (SiC-CVD) epitaxy equipment. Founded in 2020, it is based in Suzhou, China.

Sieg Technology drew tens of millions of yuan (CNY 10.0M is ~$1.4M) in pre-Series A funding led by Ginkgo Valley Capital, joined by Sharewin Investment and chipmakers Montage Technology and Li-On Microelectronics. Sieg Technology offers polymer elastomers and high-performance plastic parts. Its product line includes perfluoroether seals for use in semiconductor manufacturing equipment, along with other industries such as new energy, chemicals, and automotive. Funds will be used for production of FFKM and PI products and to increase automotive seal production capacity. Founded in 2011, it is based in Shanghai, China.

Yinguan Semiconductor drew tens of millions of yuan (CNY 10.0M is ~$1.4M) in financing. Yinguan Semiconductor makes motion control systems for semiconductor equipment, including precision motion platforms, specialized motors, piezoelectric products, and drive control products. Funds will be used for R&D, production line expansion, and hiring. Founded in 2019 as a spin out from Fudan University, it is based in Shanghai, China.

Zhongke Huizhi Equipment Technology raised CNY 10.0M (~$1.4M) in angel financing from CasStar. The startup makes gas separation and purification materials and equipment. Its zeolite molecular sieves can remove volatile organic compounds (VOCs) from waste gases created during the manufacture and assembly of semiconductors, PCBs, electronics, display panels, optical and photovoltaic glass, and lithium-ion batteries, along with applications in a range of other industries. The company also has technology for recovery of NMP solvents, oxygen production, dehumidification, and CO2 capture. Funds will be used for R&D and to expand production lines. Founded in 2021, it is based in Dongguan, China.

NanoBioFAB received $1.1M in funding from TEDCO and the Department of Defense’s Defense Health Agency SBIR office. NanoBioFAB offers an AI-powered high-throughput 3D inkjet nano-printing synthesis and screening platform for performing automated development of nanomaterials and sensor products for the military, sensor vendors, and the medical/healthcare markets. It currently focuses on development of pressure and gas sensors, with plans to expand to humidity, temperature, and noise sensors. Founded in 2016, it is based in Frederick, Maryland, USA.

GateGrid Technology drew pre-Series A financing from Score Capital. The startup offers software for semiconductor lifecycle management and data analytics for manufacturing, packaging, and testing. Founded in 2016, it is based in Beijing, China.

Packaging

Chip Carrier Semiconductor Company (CCSC) raised hundreds of millions of yuan (CNY 100.0M is ~$14.0M) in Series A and A+ rounds with investors including Z&Y Capital and GF Xinde Investment. The startup manufactures flip-chip chip-scale package (FC-CSP) and flip-chip ball grid array (FC-BGA) packaging substrates. Funds will be used for R&D, manufacturing plant construction, and equipment procurement. Founded in 2022, it is based in Zhongshan, China.

Jingdu Semiconductor received tens of millions of yuan (CNY 10.0M is ~$1.4M) in financing from Qinhe Capital Partners and others. The company offers wafer-level packaging and testing for display driver chips, including touch and display driver integration (TDDI) chips and AMOLED drivers. Funds will be used to purchase wafer testing equipment and for advanced packaging R&D. Founded in 2018, it is based in Zhenjiang, China.

Test, measurement & inspection

Sense++ raised nearly CNY 100.0M (~$14.0M) in Series A funding led by Silver Increscence Capital, joined by Cornerstone Capital, crypto miner company Bitmain Technologies, and others. The company provides optical wafer inspection equipment, including for compound semiconductors, IGBTs, MEMS, and LEDs. It also offers equipment for wire bonding inspection and PCB and substrate inspection, as well as an AI-powered automatic defect classification and defect management system platform. Founded in 2018, it is based in Hangzhou, China.

Kitronyx received about 1,000.0M won (~$0.8M) in pre-Series A funding from ID Ventures, IBK Capital, Bigbang Angels, and Korea Omega Investment. Kitronyx offers pressure distribution measurement systems and electronic pressure sensitive paper for flatness monitoring and quality control in battery, consumer electronics, display, and semiconductor manufacturing. Founded in 2014, it is based in Seoul, South Korea.

Materials

Xinhua Semiconductor raised CNY 1000.0M (~$140.5M) in a Series B round from Spinnotec, Oriza Holdings, Hudson Capital, CCB Investment, CNBM New Materials Fund, Pudong Innotek Capital, Chengdu Science & Technology Innovation Investment, CRCC Transformation and Upgrade Fund, Yuhai Capital, and others. Xinhua Semiconductor produces electronic grade polysilicon for the semiconductor wafer industry. It supplies polysilicon for the Czochralski (CZ) method as well as polysilicon rods for the float zone (FZ) process. It currently has a 5,000 ton/year production capacity, with a 10,000-ton facility under construction and expected to begin operation this year. Founded in 2015, it is based in Xuzhou, China.

Fuyang Sineva raised over CNY 500.0M (~$70.0M) in Series D financing led by Peakview Capital, joined by CICC, JIC Group, Hefei Innovation Investment, Longding Investment, Qixin Capital, WZ Group, and others. The company makes display and semiconductor photoresists. Its products include KrF and ArF photoresists; specialty display photoresists such as low-temperature, quantum dot, and pixel define layer photoresists; OLED materials; semiconductor wet electronic chemicals; and other specialty materials. Funds will be used for R&D and to expand production. A subsidiary of Sineva Group, it was founded in 2013 and is based in Fuyang, China.

ConstCurrent drew tens of millions of yuan (CNY 10.0M is ~$1.4M) in angel funding led by Richland Capital, joined by Oriental Fortune Capital, SND Financial Holdings, and others. ConstCurrent manufactures single-walled carbon nanotubes and other conductive agents, including superconducting carbon black and graphene. Its products can be used in batteries, such as in silicon-based anodes for lithium-ion batteries, as well as in conductive plastics, transparent conductive films, supercapacitors, and conductive inks for semiconductors, electronics, automotive, and photovoltaics. Funds will be used for construction of a pilot line, hiring, and R&D. Founded in 2022, it is based in Suzhou, China.

RealWay New Materials received tens of millions of yuan (CNY 10.0M is ~$1.4M) in Series A funding from Zhizhi Dafang Capital and Tsinghua Innovation Ventures. RealWay makes diamond-metal composite materials for thermal management, including chip heatsinks. Funds will be used for construction of mass production lines. Founded in 2021, it is based in Nanjing, China.

Jiangci Electronics received CNY 10.0M (~$1.4M) in seed funding from CasStar. The startup manufactures piezoelectric ceramics and components. Funds will be used for R&D. Founded in 2023, it is based in Suzhou, China.

Shanghai Lianfeng received Series A+ financing from Ori-mind Capital, Addor Capital, and China Grand Prosperity Investment. The company provides electronic gases, high-purity gases, and gas recovery equipment for semiconductor, photovoltaic, and other industries. Founded in 2015, it is based in Shanghai, China.

Memory & storage

Storlead raised CNY 200.0M (~$28.1M) in Series A funding from TopoScend Capital. Storlead provides a range of SSD storage products, encryption and data security systems, single-board computers, and servers for military and aircraft. The company also provides flash memory testing equipment that supports high-temperature and low-temperature cycle tests, threshold voltage tests, and reliability and endurance tests. Additionally, it offers baseboard management controller (BMC) chips. Funds will be used for construction of a fully automated flash memory chip testing line under its Guangdong Storlead IC subsidiary, which will also focus on memory chip packaging. Founded in 2016, it is based in Shenzhen, China.

Analog & mixed signal

Legendsemi Technology raised CNY 100.0M (~$14.0M) in Series A funding from Source Code Capital, Everest VC, Silkroad Goldenbridge Capital Management, Dingxin Capital, Bridge Capital, Topband, Goodwe, and Megmeet Capital. Legendsemi designs high-precision, high-reliability analog and mixed-signal chips with a focus on signal chain ICs and MCUs. Funds will be used for R&D, product optimization, and hiring. Founded in 2020, it is based in Suzhou, China.

Fountain Semiconductor received tens of millions of yuan (CNY 10.0M is ~$1.4M) in funding from Sunlord Electronics and others. The company offers mixed-signal ICs, including signal chain chips and power management chips and modules. It targets applications including consumer electronics, instrumentation, photovoltaics, medical electronics, and automotive. Funds will be used for product development and hiring. Founded in 2018, it is based in Chengdu, China.

Grand Microelectronics raised tens of millions of yuan (CNY 10.0M is ~$1.4M) in Series B funding from Addor 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 for R&D of high-end clock chips, to launch high-speed signal chain products, and for hiring. Based in Wuxi, China, it was founded in 2018.

Jinghuan Xinshi Semiconductor drew tens of millions of yuan (CNY 10.0M is ~$1.4M) in angel financing. The startup develops HDMI interface chips. Founded in 2021, it is based in Shanghai, China.

SPL Electronics received new financing from Xiaomi and others. The company makes communications chips and modules with OFDM for applications such as IoT and smart power meters. Founded in 2016, it is based in Shenzhen, China.

Wireless

Ultichip Communication Technology raised hundreds of millions of yuan (CNY 100.0M is ~$14.0M) in Series C financing led by Kequan Fund. Ultichip develops cellular base station chips, including a 4G and 5G dual-mode digital front end (DFE) chip that supports the O-RAN specification, including precoding processing, fast Fourier transform processing (FFT/IFFT), crest factor reduction (CFR), digital pre-distortion processing (DPD), digital up-conversion (DUC), down-conversion (DDC), configurable filter processor, JESD204B/C controller, CPRI/eCPRI front-end interface protocol processing, IEEE 1588 precision clock synchronization, and Synchronous Ethernet (SyncE). It also offers remote radio unit (RRU) reference designs as well as 2T2R and 4T4R RRUs. Funds will be used for R&D, expansion of production capacity, and marketing. Founded in 2019, it is based in Nanjing, China.

Kiloway raised CNY 80.0M (~$11.2M) in Series C funding from Sichuan Academician Fund and others. Kiloway makes passive ultra-high frequency (UHF) and high-frequency (HF) RFID tags with ultra-low power permanent memory technology and the ability to withstand harsh environments, including medical radiation. They can be used as IoT smart tags in scenarios such as logistics, retail, healthcare, asset tracking, anti-counterfeiting, manufacturing, and agriculture. Founded in 2019, it is based in Mianyang, China.

Digital Enhancement raised tens of millions of yuan (CNY 10.0M is ~$1.4M) in Series A financing from Z&H Investment. Digital Enhancement develops digital front-end RF chips with CFR (Crest Factor Reduction) and DPD (Digital Pre-Distortion) algorithms it says improve key RF indicators such as bandwidth, linearity, efficiency, and output. It targets applications such as power amplifiers, 5G base stations, and mobile equipment. Based in Hangzhou, China, it was founded in 2019.

Novocomms received millions of pounds (£1.0M is ~$1.2M) in financing. The company makes antennas for a range of mobile devices, including laptops, tablets, mobile phones, smartwatches, and IoT devices. It offers both off-the-shelf and custom designs. Funds will be used for expansion and hiring. Founded in 2019 based on research from the University of Birmingham, it is based in Birmingham, UK.

Chengdu SiCore Semiconductor received new financing from CDHT Investment and others. The startup designs millimeter wave RF and microwave ICs, components, and system test solutions with products including voltage-controlled oscillators, frequency converters, and analog phase shifters. It targets radar, communications, and test and measurement instruments. Funds will be used for new product development, expansion of test production lines. and marketing. Founded in 2017, it is based in Chengdu, China.

GrandeurRF received investment from Xiaomi’s Hanxing Venture Capital. The startup makes RF devices, including filters and multiplexers. Founded in 2021, it is based in Wuhan, China.

Power devices

YASC (YOFC Advanced Semiconductor Co.) drew over CNY 3800.0M (~$524.4M) in Series A financing from Optics Valley Financial Holdings, Zhongping Capital, CICC Capital, Guoyuan Equity, Winsoul Capital, CCB Trust, Luxin Group, YOFC, and others. YASC manufactures silicon carbide (SiC) power semiconductor devices, including IGBTs, MOSFETs, and Schottky barrier diodes. Funds will be used for construction of a second production facility, which will include a packaging line. Founded in 2018 and associated with optical fiber cable maker YOFC, it is based in Wuhu, China.

Beiyi Semiconductor drew over CNY 150.0M (~$20.9M) in a Series B round led by CoStone Capital, joined by Jinding Capital and CICC Capital. Beiyi Semi makes IGBT, MOSFET, and SiC power chips and modules for applications such as EVs, photovoltaics, frequency conversion, and industrial control. Funds will be used for production line expansion, R&D, hiring, and market expansion. Founded in 2017, it is based in Shenzhen, China.

ConvenientPower received hundreds of millions of yuan (CNY 100.0M is ~$14.0M) in strategic financing led by SAIC Motor and SAIC’s Shang Qi Capital, joined by Nio Capital, CICC Capital, and SAIF Gaopeng Fund. The company makes power management and wireless charging chips for consumer electronics and automotive. Founded in 2016, it is based in Chengdu, China.

Top Electronics (TOPE) raised nearly CNY 100.0M (~$14.0M) in pre-Series A funding led by Wu Xing Industrial Investment, joined by Caitong Capital, Oriza Holdings, and others. Top Electronics offers silicon carbide (SiC) power devices, including SiC Schottky barrier diodes (SBD), MOSFETs, modules, and 600V-3300V custom devices. Applications include photovoltaics, power supplies, electric vehicles, and charging piles. Funds will be used to build a production line for automotive-grade SiC power modules. Founded in 2020, it is based in Wuhu, China.

EnergyMath Technology received tens of millions of yuan (CNY 10.0M is ~$1.4M) in angel financing led by Hefei Industry Investment Fund and Hefei Hi-Tech VC, joined by Silicon Harbour. The startup offers battery management system (BMS) analog front-end (AFE) chips and isolated daisy chain communication control chips for large-scale energy storage and vehicles. It also develops power management and programmable analog chips for computers, servers, industrial control, inverters, and BMS. Founded in 2022, it is based in Hefei, China.

LightPiover drew tens of millions of yuan (CNY 10.0M is ~$1.4M) in angel financing from Wuxi Venture Capital Group, Wuxi New District Investment Group, and others. The startup develops power devices, with a particular focus on gate driver chips. Its products include high-voltage non-isolated and isolated gate driver chips (HVIC), low-side and high-side driver chips, intelligent power modules (IPM), smart power integrated circuits (SPIC), and brushless DC motor control, power supply, and inverter chips. Funds will be used for the design and development of high-voltage gate driver chips, including ones for gallium nitride (GaN) and silicon carbide (SiC) devices. Founded in 2022, it is based in Wuxi, China.

Primechip Semiconductor raised tens of millions of yuan (CNY 10.0M is ~$1.4M) in angel financing led by Cowin Capital and joined by Ofound Angel. Primechip makes gallium nitride (GaN) power semiconductors, including drivers and DC-DC converters, for consumer electronics, energy storage, data centers, electric vehicles, communications, and medical electronics. Founded in 2022, it is based in Hangzhou, China.

Tech Seed Technology raised tens of millions of yuan (CNY 10.0M is ~$1.4M) in financing from Capital X and Basin Capital. The company makes planar transformers for power semiconductors, communications equipment, electric vehicles, and military and rail transit. Founded in 2019, it is based in Beijing, China.

Cheery Energy received new investment from Jolmo Capital. The startup makes high-efficiency AC/DC power modules, bidirectional AC/DC modules, and high-precision DC power supplies with product lines covering 1.5kW, 3kW, 6kW, and above. It also provides power supply customization services. Based in Suzhou, China, it was founded in 2021.

Geener Microelectronics received Series A funding led by Gaorong Capital, joined by Puhua Capital, China Merchants Venture, Asia Green Fund, automaker Geely, supply chain company C&D Inc, and others. The startup produces inverter power modules, automotive-grade IGBT chips and modules, SiC devices, and low-voltage MOSFETs for applications such as new energy vehicles, electric motorcycles, photovoltaics, and energy storage. Funds will be used for R&D, production line construction, and hiring. Founded in 2022, it is based in Hangzhou, China.

IceMOS Technology received a grant from the UK Space Agency and ADS Group. IceMOS develops deep trench MEMS super junction high voltage MOSFETs. It also offers MEMS product substrates and advanced engineering substrates based on the company’s wafer bonding technology. The funds will be used to deliver a substrate that enables a radiation-tolerant, high-voltage silicon carbide engineered drain MOSFET for more efficient high power distribution electrical systems on spacecraft for low Earth orbit, middle Earth orbit, and deep space exploration. The rad-tolerant power transistor will incorporate a silicon carbide engineered drain substrate to take advantage of the low on-resistance performance from wide bandgap materials. Founded in 2004, it is based in Belfast, Northern Ireland, UK.

Pace Electronics drew Series A financing from Mingdao Investment. The company makes battery management systems and is an electronic components distributor, primarily for consumer electronics. Founded in 2004, it is based in Shenzhen, China.

Photonics & optics

Celestial AI raised $100.0M in Series B funding led by IAG Capital Partners, Koch Disruptive Technologies, and Temasek’s Xora Innovation, with other major investors including Samsung Catalyst, Smart Global Holdings, Porsche Automobil Holding, The Engine Fund, imec.xpand, M Ventures, and Tyche Partners. Celestial AI develops a developed a photonic technology that enables optically addressable memory and compute both on-chip and between chips. Its optical interconnect for disaggregated, exascale compute, and memory clusters is not restricted by the package beachfront and can deliver data to any location on the compute die. The company claims its photonic fabric provides compute-to-compute and compute-to-memory connectivity at Tbps bandwidth with nanosecond latencies. It can be used with existing compute platforms or as part of the company’s AI accelerator. The technology is compatible with standards including CXL, PCIe, UCIe, JEDEC HBM, and proprietary electrical communication links. Founded in 2020, it is based in Santa Clara, California, USA.

NLM Photonics received $1.0M in strategic financing led by Tokyo Ohka Kogyo (TOK) and Hamamatsu Photonics. NLM 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. As part of the deal, TOK and NLM will collaborate on developing shelf-stable market-usable inks incorporating NLM’s materials. Funds will be used to further commercialization. Founded in 2018 based on research from the University of Washington, it is based in Seattle, Washington, USA.

Wave Photonics received a grant from the European Innovation Council Accelerator. Wave Photonics uses computational techniques to create tools and IP for integrated photonics design. Its approach uses a combination of simulation, statistical modeling, and optimization techniques. Founded in 2021, it is based in Cambridge, UK.

Quantum computing

Algorithmiq raised $15.0M in a Series A round led by Inventure VC, joined by Tesi, Presidio Ventures, Thames Trust, and previous investors. Algorithmiq offers noise-resilient quantum algorithms for life sciences applications such as drug discovery. It can be used for quantum chemistry simulations on all major quantum cloud platforms. Funds will be used to pursue its proof-of-concept work with pharmaceutical companies. Founded in 2020, it is based in Helsinki, Finland.

Kvantify drew DKK 40.0M (~$5.8M) in funding led by Denmark’s Export and Investment Fund. Kvantify is developing quantum computing and HPC software, particularly for the life sciences, pharmaceuticals, and financial industries. Funds will be used for development of its drug discovery platform. Founded in 2022, it is based in Copenhagen, Denmark.

Haiqu raised $4.0M in pre-seed funding led by MaC Venture Capital, with participation from Toyota Ventures, SOMA Capital, u.ventures, SID Venture Partners, Roosh Ventures, and individual investors Paul Holland, Alexi Kirilenko, and Gordy Holterman. Haiqu is developing a software optimization layer for quantum processors. Its platform-agnostic technology aims to address the limited number of qubits and high noise sensitivity of near-term quantum processors and enable practical use-cases in finance, chemistry, life sciences, mobility, and other domains. “We are accelerating the timeline to practical quantum computing by developing novel software that can extract value out of clumsy near-term quantum hardware, enabling quantum applications that were previously impossible,” said Richard Givhan, co-founder and CEO at Haiqu. Funds will be used for R&D and to bring its product to market. Founded in 2022, it is a globally remote company based in Lviv, Ukraine, and San Francisco, California, USA, with operations also in Canada, Germany, and Switzerland.

Qunova Computing drew 5000.0M won (~$3.8M) in pre-Series A investment from Hyundai Motor’s ZER01NE, Daesung Startup Investment, Laguna Investment, Blue Point Partners, Smilegate Investment, ID Ventures, and KB Investment. Qunova develops quantum simulation and machine learning software, particularly for modeling electronic structures and fragment molecular orbitals in drug and materials design. It also plans to provide a managed cloud service. Founded in 2021, it is based in Daejeon, South Korea.

HQS Quantum Simulations received €1.0M (~$1.1M) in funding from Trumpf Venture. The company develops software for the simulation of quantum-level models of materials and their molecular properties, particularly for materials research and the pharmaceutical industry. It works on both classical systems and current quantum computers and aims to provide researchers a bridge for easily switching from one to the other. Founded in 2017 as a spin out from Karlsruhe Institute of Technology, it is based in Karlsruhe, Germany.

Molecular Quantum Solutions (MQS) drew €0.6M (~$0.7M) in pre-seed funding led by Scale Capital, joined by Rockstart and Stokbro Invest. MQS develops a quantum chemistry simulation platform for the pharmaceutical, biotech, and chemical sectors. Founded in 2019, it is based in Søborg, Denmark.

QC Design emerged from stealth and announced seed funding from Vsquared Ventures, Quantonation, and Salvia GmbH. QC Design is developing fault-tolerant quantum computing technologies. Rather than building systems, the startup will license its combination of error-correction hardware architectures, fault-tolerance simulator, and software tools that integrate various quantum error correction codes, hardware-relevant error models, and decoders. Its initial focus is on quantum photonics and spin qubits. “These architectures enable reliable quantum computing on quantum chips despite inevitable hardware imperfections such as losses, crosstalk, and fabrication errors. More generally, licenses to our architectures give hardware manufacturers the fastest path to fault tolerance and allow them to do more with the same hardware,” said Ish Dhand, CEO and co-founder of QC Design. Founded in 2021, it is based in Ulm, Germany.

Infleqtion was awarded a grant from Innovate UK. Infleqtion develops quantum technologies, including quantum computer hardware components, software, research platforms, sensors, and quantum-enabled positioning, navigation, and timing (PNT) systems. The funding will support the development of a new type of optical atomic clock with greater accuracy and reliability than current Global Navigation Satellite Systems (GNSS)-based systems. Formerly known as ColdQuanta, it was founded in 2007 and is based in Austin, Texas, USA.

Orange Quantum Systems received a grant from the European Innovation Council Accelerator. Orange QS provides diagnostic systems for high-throughput quantum chip testing with the aim of reducing the test cost per qubit. Its system comprises software diagnostics libraries integrated with measurement and control hardware components. Founded in 2020, it is based in Delft, the Netherlands.

Sensors

Rockley Photonics received $35.0M in financing from existing stakeholders as it completed financial restructuring and emerged from Chapter 11 bankruptcy protection. It develops photonics-based sensing platforms specifically designed for health monitoring, including a short-wave infrared (SWIR) biosensing solution that enables continuous monitoring of critical spectra-based biomarkers through a wearable device. Founded in 2013, it is based in Pasadena, California, USA.

MatrixSpace drew $10.0M in Series A funding led by Raptor Group and joined by Intel Capital. MatrixSpace offers portable radar systems along with AI software for sensor fusion of optical, radar, lidar data and real-time object recognition, detection, and training. It targets outdoor applications such as critical infrastructure, general aviation and transportation, defense, and robotics. Founded in 2019, it is based in Burlington, Massachusetts, USA.

Aito raised €6.0M (~$6.5M) in funding from KBC Focus Fund, Forward.One, Innovation Industries, and individual investors. Aito has developed an integrated finger sensing and haptic feedback solution capable of providing ultra-local feedback only where pressed. It can be finetuned to a user’s specific preferences and simulates real world sensations such as virtual buttons with edge effects, sliders for volume controls and scrolling, and spring effects. Applications include edge-to-edge touchpads for laptops, accessories, display screens, gaming devices, and AR/VR. Based in Amsterdam, the Netherlands, it was founded in 2012.

Advanced Navigation received an AUD 5.2M (~$3.4M) grant from the Australian Space Agency. Advanced Navigation manufactures MEMS and fiber optic gyroscope (FOG) based inertial navigation systems that combine accelerometers, gyroscopes, magnetometers, and pressure sensors with RTK GNSS receivers and AI algorithms. Its products are used in sea, land, air, and space applications for both commercial and defense industries. The funds will accelerate development and production of the company’s Light Detection, Altimetry and Velocimetry (LiDAV) technology for use in lunar landers. Founded in 2012, it is based in Sydney, Australia.

Dao Sensing raised tens of millions of yuan (CNY 10.0M is ~$1.4M) in pre-Series A funding from Oriza Holdings, SR Capital, and Leaguer Capital. Dao Sensing provides single-photon avalanche diode (SPAD) direct time-of-flight (dToF) ranging sensor chips that integrate VCSEL transmitter, SPAD array, microlens, time-to-digital converter, and MCU. Its products include 5-meter single-point and multi-region multi-target dToF distance sensors for smartphone camera focusing and smart home devices, as well as a 30-meter dToF sensor for area mapping in sweeping robots, UAVs, and smart home. It plans to expand to automotive and AR/VR with the introduction of an automotive-grade silicon photomultiplier (SiPM) and area array SPAD products. Founded in 2021, it is based in Shanghai, China.

VicoreTek received tens of millions of yuan (CNY 10.0M is ~$1.4M) in financing from Shenzhen High-tech Investment and Kunshan Taiwanese Business Development Fund. The startup develops image processing and sensor fusion chips, AI algorithms, and modules for object avoidance in sweeping robots. Its SoC provides simultaneous localization and mapping (SLAM) functionality and includes a 3D vision accelerator supporting time of flight, structured light, and binocular cameras. It also includes an image signal processor specifically tuned for robots that supports rolling shutter image sensors. It plans to expand to other types of service robots, AR/VR, and the automotive market. Funds will be used for product development and mass production. Founded in 2019, it is based in Nanjing, China.

Amazec Photonics received a €0.3M (~$0.3M) convertible loan from the Noord-Holland Innovation Fund. Amazec Photonics develops application specific photonic integrated circuits (ASPICs) for ultrasensitive temperature sensing using the Fiber Bragg Grating (FBG) technique. It is focusing on solutions for non-invasive cardiovascular monitoring. Founded in 2021, it is based in Oudkarspel, the Netherlands.

Zero Point Motion received a grant from the European Innovation Council Accelerator. Zero Point Motion is developing hybrid MEMS and photonic inertial sensor chips that use optical sensing techniques known as cavity optomechanics. Applications include drones, VR/AR, indoor navigation, and imaging stabilization. Based in Bristol, UK, it was founded in 2020.

Security

Angoka received a grant from the UK Space Agency and ADS Group. Angoka develops hardware-based solutions for critical machine-to-machine communication integrity and data provenance over untrusted networks using an integrated identity and key management technology. Initially in testing as PCI cards and dongles, it says the technology could eventually be incorporated into silicon chips. It targets areas such as automotive, industrial systems, IoT and telecom, and aerospace and defense. The funds will be used for a quantum resilient solution that protects space based optical communications. Founded in 2019, it is based in Belfast, Northern Ireland, UK.

Crypto Quantique received a grant from the European Innovation Council Accelerator. Crypto Quantique is developing an end-to-end IoT security platform using a quantum-driven hardware IP root of trust that generates unique, unforgeable identities and cryptographic keys on demand. It also offers an IoT software platform that enables device manufacturers and OEMs to connect and manage their devices to multiple cloud service providers. Founded in 2016, it is based in London, UK.

Displays & AR/VR

Red 6 raised $70.0M in Series B financing led by RedBird Capital Partners, joined by Alpha Edison, Boeing’s AEI Horizon X Fund, Lockheed Martin Ventures, Disney Accelerator, Washington Harbour Partners, M-Cor Holdings, the UK’s National Security Strategic Investment Fund, Moonshots Capital, Irongate Capital Advisors, State of Florida Opportunity Fund, Alumni Ventures, Alliance Holdings, Alcazar Capital, and actor Robert Downey Jr.’s Downey Labs. The company develops AR headset hardware and software for synthetic air combat training for multiple users in dynamic high-speed, full daylight outdoor environments. It also has applications for the entertainment industry. Founded in 2018, it is based in Orlando, Florida, USA.

Jade Bird Display (JBD) raised hundreds of millions of yuan (CNY 100.0M is ~$14.0M) in Series A3+ and A4 rounds from automakers BYD and Geely, along with Alibaba, Shanghai STVC Group, GF Qianhe, and existing investors. JBD designs and fabricates active matrix inorganic microLED display chips and panels with wavelengths ranging from UV to visible to IR. It uses a monolithic hybrid integration technology to combine its microLED array with a silicon-based CMOS IC backplane. It specializes in ultra-compact microdisplays under 0.5 inches in diagonal, with display products as small as 0.13 inches. Applications include AR/VR headsets, automotive and motorcycle head-up displays, projectors, and 3D printing. It also offers control boards, custom panels, and development kits. Funds will be used for R&D, mass production, hiring, and market development. Based in Shanghai, China, it was founded in 2015.

Viture drew nearly $10.0M in Series A+ financing from Blue Run Ventures. Viture makes XR smart glasses that can stream games and video from various cloud services using a neckband or from a mobile device. It uses an electrochromic film to switch between AR and VR modes. Founded in 2021, it is based in San Francisco, California, USA.

Almer Technologies received $5.0M in seed funding. Almer develops an AR headband for industrial workflows, with uses such as providing guidance to on-site workers. Funds will be used for development and production of its second-generation AR glasses and to expand into new markets. Founded in 2021, it is based in Bern, Switzerland.

Swave Photonics added €3.0M (~$3.3M) to its seed funding from imec.xpand, Flanders Future Techfund, QBIC, Acequia Capital, and Luminate NY, bringing the round to €10.0M. Swave develops Holographic eXtended Reality (HXR) technology it says can provide lifelike, high-resolution 3D images without requiring viewers to wear AR/VR headsets or prescription glasses. Based on diffractive optics and manufactured using a standard CMOS process, the startup says its technology can fully reconstruct a 3D light wave from a 2D hologram on a chip that represents all of the scene, in all directions, with perfect focus at any point in space using a sub ½ wavelength pixel that is smaller than 220nm. Swave 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. Beyond AR/VR, it is targeting applications such as holographic walls and head-up displays. Founded in 2022 as a spin-off of Imec and Vrije Universiteit Brussel, it is based in Leuven, Belgium.

Brilliant Labs drew $3.0M in seed funding from Plug & Play Ventures, Moveon Technologies, individual investors Brendan Iribe, Adam Cheyer, Eric Migicovsky, Steve Sarowitz, Nirav Patel, Francisco Tolmasky, and others. Brilliant Labs develops open-source AR hardware and software. Its current developer kit is a monocle-style AR lens with a 20° FOV, camera, microphone, touch sensor, and AI integration. Designed to be modifiable, the hardware uses an FPGA that enables users to create custom camera and display pipelines for specific applications. Funds will be used for hiring, R&D, and to expand operations. Founded in 2019, it is based in Singapore.

Cellid raised 370.0M yen (~$2.7M) in funding from TEL Venture Capital, as well as new investment from Toppan Photomask. Cellid offers display modules for AR glasses that combine waveguides and a micro projector for a 60° field of view. It also has visual simultaneous localization and mapping (VSLAM) software. Funds will be used to expand production capabilities, establish a quality control system for mass production, and for development and sales of 3D model creation software. Cellid and Toppan Photomask will work together on production systems for waveguides. Founded in 2016, it is based in Tokyo, Japan.

Shineview Microelectronics received tens of millions of yuan (CNY 10.0M is ~$1.4M) in pre-Series A funding led by Xinke Capital. Shineview designs display driver chips, primarily for the mid- to high-end TV market. Its chip can drive screen sizes up to 110 inches and includes high-speed interfaces that support 4K/8K resolution and 120Hz refresh rate. It plans to expand to automotive displays. Founded in 2021, it is based in Suzhou, China.

Zhixing Wujie received tens of millions of yuan (CNY 10.0M is ~$1.4M) in seed funding from Qianhai Ark Fund. The startup is developing a dedicated processing unit based on RISC-V for spatial computing chips to support human-computer interaction and multi-modal real-time computing in applications such as XR, automotive cockpits, and robots. Funds will be used for R&D and market expansion. Founded in 2023, it is based in Shanghai, China.

Guangqi Image drew pre-Series A financing. The startup makes display test equipment supporting microLED and microOLED, as well as mini LED, OLED, and TFT-LCD. Founded in 2020, it is based in Nanjing, China.

Morphotonics received a grant from the European Innovation Council Accelerator. Morphotonics supplies large-area nanoimprint equipment, consumables, and software for manufacturing optics and displays. The funds will support mass manufacturing of AR waveguides using roll-to-plate nanoprinting technology. Founded in 2014, it is based in Eindhoven, the Netherlands.

NewHaptics drew growth funding from the Accelerate Blue Fund. The startup develops a compact, portable refreshable braille and tactile graphics display. The technology can support a large-area display with a grid of thousands of small tightly-packed tactile dots that can be selectively raised and lowered using a microfluidic chip to render multiple lines of braille or graphics such as graphs, maps, spreadsheets, and diagrams in real time. A spin off from the from the University of Michigan founded in 2018, it is based in Ann Arbor, Michigan, USA.

Automotive

OnTime, also known as Ruqi Mobility, raised CNY 842.0M (~$117.1M) in Series B funding led by GAC Group. OnTime develops autonomous driving solutions for robotaxis. The company also operates a mixed robotaxi and human driver ride-hailing network. Funds will be used to accelerate commercialization of its autonomous driving products. Founded in 2018, it is based in Guangzhou, China.

Fernride drew $31.0M in Series A funding with investors including 10x Founders, Promus Ventures, Fly Ventures, Speedinvest, and Push Ventures, along with corporate investors HHLA Next, Schenker Ventures, and Krone. Fernride is working to automate transport logistics by gradually increasing the autonomy of trucks and tractor through with a combination of autonomous driving technology and teleoperation. It equips trucks and tractor units with sensors and cameras so that they can be remote controlled via mobile networks. The company targets yard operations such as container handling, shunting, and hub-to-hub transportation. Funds will be used to scale operations and boost technology development. Founded in 2019 as a spin out from Technical University of Munich, it is based in Munich, Germany.

Automotive Intelligence and Control of China (AICC) received hundreds of millions of yuan (CNY 100.0M is ~$14.0M) in financing from CICC Capital, CATL, Delta Capital, and Zhongke Holdings. AICC offers smart car domain controllers and a basic automotive software platform that provides an OS, V2X and cloud communications management, and data security. Founded in 2020, it is based in Beijing, China.

Bynav Technology raised hundreds of millions of yuan (CNY 100.0M is ~$14.0M) in strategic financing that included Bosch Venture Capital, Great Wall Motor’s Great Wall Capital, Xpeng Motors’ Rockets Capital, Geely’s Xingyuan Capital, F&G Venture, CoStone Capital, and CICC Capital. Bynav develops high precision GNSS/INS positioning SoCs, ASICs, and modules, as well as GNSS signal processing algorithms, real-time kinematic positioning (RTK) algorithms, and combined navigation and visual fusion algorithms for automotive, surveying and mapping, IoT, and GIS data acquisition. Founded in 2013, it is based in Changsha, China.

Windrose Technology raised hundreds of millions of yuan (CNY 100.0M is ~$14.0M) in Series A financing from Fountainvest Partners, Yunqi Partners, GSR Ventures, Hefei Venture Capital, and Rokin Logistics. Windrose Technology is building self-driving new energy heavy trucks for trunk line logistics. Funds will be used for product development and market expansion. Founded in 2022, it is based in Hefei, China.

Enjoy Move Technology raised nearly CNY 100.0M (~$14.0M) in a Series B2 round led by V Fund, joined by ChiFortune Venture Capital and Glen & Vale Fund. Enjoy Move develops software for smart cars and autonomous driving, including a middleware platform and automated parking algorithms. Founded in 2018, it is based in Shanghai, China.

iStarChip drew nearly CNY 100.0M (~$14.0M) in angel funding led by Sunic Capital. iStarChip develops automotive-grade MCUs and basic software for various domain and zonal controllers, including power, chassis, engine, motor, and BMS. The startup says its chips meet ISO 26262 ASIL-D, ISO/SAE 21434, and AEC-Q100 Grade 1 specifications. It expects to launch an MCU targeted at entry-level cars this year, then expand into products for mainstream and high-end markets. Funds will be used for technology development and hiring. Founded in 2022, it is based in Jiaxing, China.

Meritech Integrated Circuits received nearly CNY 100.0M (~$14.0M) in Series A financing led by Nio Capital and Hua Capital, joined by Lightspeed China Partners and others. MTIC makes analog and mixed-signal chips for automotive. Its products include signal chain chips and automotive SerDes for in-vehicle displays and on-board cameras. Founded in 2021, it is based in Beijing, China.

BOS Semiconductors raised 2000.0M won (~$1.5M) in funding from Hyundai Motor and Kia Corporation. BOS designs SoCs for a range of automotive applications, including ADAS and autonomous driving, automotive gateways, and infotainment systems. Hyundai and Kia plan to collaborate with BOS on development of customized semiconductors for electric and self-driving vehicles. Founded in 2022, it is based in Pangyo, South Korea.

CAS-Juche raised tens of millions of yuan (CNY 10.0M is ~$1.4M) in Series A funding from Guoyuan Equity. CAS-Juche makes self-driving vehicles for low-speed applications such as unmanned shuttle buses, street cleaning vehicles, and last-mile delivery. It also offers various autonomous vehicle components including chassis controllers, central controllers, intelligent sensors, and software for passenger, commercial, military, and specialized vehicles. Funds will be used for construction of production facilities, hiring, and R&D. Founded in 2018, it is based in Hefei, China.

Echiev Automatic Driving Technology received tens of millions of yuan (CNY 10.0M is ~$1.4M) in Series A funding from ABC Capital and Huizhi Weichuang Industrial Investment. Echiev develops modular self-driving controller systems and L4 vehicles. Its low-speed L4 vehicles target applications such as passenger shuttles, smart city robots, factories and warehouses, and terminal logistics. Its FPGA-based controllers can be used in passenger vehicles for L2 and L3 ADAS functionality such as automated parking and traffic jam assist. Founded in 2017, it is based in Shenzhen, China.

Hantewin Intelligent Technology received CNY 10.0M (~$1.4M) in pre-Series A financing from Fuzhou Financial Holdings. The startup makes self-driving low-speed vehicles and robots for indoor and outdoor use. Its products include unmanned shuttles for geofenced locations and small delivery robots. It also provides chassis and an automated driving ECU. Founded in 2019, it is based in Fuzhou, China.

Revoh Innovations raised $0.4M in seed funding from Nexzu Technologies and Whiteboard Capital. Revoh makes compact brushless DC (BLDC) motor controllers for light electric vehicles. Its controllers range from 250 watts up to 1.5 kilowatts with over 95% efficiency and include features like auto-phase detection, adjustable speed limit, anti-theft alarm, and forward/reverse functions. Funds will be used for hiring and expanding to high-power controllers. Founded in 2017, it is based in Chennai, India.

Panyauto received millions of yuan (CNY 1.0M is ~$0.1M) in angel financing led by MiraclePlus. The startup develops smart car domain controllers. Funds will be used for R&D. Founded in 2022, it is based in Shanghai, China.

AcMotion Automotive Technology received angel financing from CWB Capital. AcMotion offers a skateboard-style chassis-by-wire platform for low-speed intelligent driving applications, along with brake-by-wire, steering-by-wire, and chassis domain controller components. Founded in 2020, it is based in Chongqing, China.

Chiplego Technology received financing from Changzhou Kechuang Nursery Fund. Chiplego is using chiplets to design high-performance chips for smart vehicles. The startup has developed its own high-bandwidth, low-latency interconnect technology and what it calls an embedded HPC architecture. It is targeting both cockpit and intelligent driving functions. Founded in 2021, it is based in Shanghai, China.

Muye Microelectronics (Muyewei) received pre-Series A+ financing from WestSummit Capital and Yilai Capital, following up a pre-A round in April. The startup makes 4D millimeter wave imaging radar chips for automotive applications. Muyewei says its solution can detect and distinguish different objects up to a distance of 300 meters. Funds will be used for R&D and productization. Founded in 2021, it is based in Shenzhen, China.

Ottonomy received a venture investment from Aeroporti di Roma’s ADR Ventures. Ottonomy develops L4 autonomous delivery robots that can deliver food and beverages, groceries, and packages to curbside, last mile, and indoor environments, such as inside airports. Founded in 2020, it is based in Brooklyn, New York, USA.

Batteries

Kore Power received a $850.0M conditional loan commitment from the U.S. Department of Energy. Kore Power manufactures lithium-ion battery cells and integrated solutions for the e-mobility and energy storage sectors. It currently offers nickel manganese cobalt (NMC) and lithium iron phosphate (LFP) cells. Funds will be used for construction of a manufacturing facility in Arizona for EV and energy storage system batteries. Founded in 2018, it is based in Coeur d’Alene, Idaho, USA.

Northvolt received a $400.0M convertible note from the Investment Management Corporation of Ontario. Northvolt makes lithium-ion batteries for electric vehicles, grid storage, and industrial applications with a focus on recyclability, greener manufacturing, and a minimal CO2 footprint. The company plans to expand to 150 GWh of annual production capacity by 2030, the year it also targets for sourcing 50% of raw materials for new cells from recycled batteries. Funds will be used for expansion efforts. Founded in 2016, it is based in Stockholm, Sweden.

Guorun Energy Storage drew nearly CNY 200.0M (~$27.6M) in Series A funding from Shan Zheng Investment, NewMargin Ventures, and others. The company manufactures all-vanadium redox flow energy storage batteries and perfluorinated ion exchange membranes, which are used in the batteries as well as in fuel cells and hydrogen production by water electrolysis. Flow batteries are suitable for long-term, stationary energy storage. The company’s flow battery is based on the redox of the metal vanadium and uses a sulfuric acid electrolyte of vanadium ions with different valences. Based in Shuozhou, China, it was founded in 2020.

Lepu Sodium Power raised CNY 150.0M (~$20.9M) in Series A financing from the Jinan Smart Electric Vehicle Industry Equity Investment Fund. Lepu manufactures cathode precursors and cathode materials for sodium-ion batteries. It plans to build out a zero-carbon emissions manufacturing facility. Founded in 2022, it is based in Shanghai, China.

BeFC raised €16.0M (~$17.2M) in a Series A round led by Otium Capital, joined by existing investors including Demeter, BNP Paribas Développement, and Supernova Invest. BeFC develops bioenzymatic fuel cells that are paper-based, ultra-thin, and flexible. The biofuel cells are made from carbon electrodes that are separated by a cellulose microfluidic layer. The electrodes are functionalized with enzymes to either oxidize glucose or reduce oxygen, producing electricity. The cell’s optimal power density is a few hundred microwatts per square centimeter, which BeFC says enables it to maintain a microcontroller in sleep with a real time clock and periodically wake to perform a sense routine, write the data to memory, and then wirelessly communicate any events. The startup also develops a flexible active electronic sensor tag capable of collecting a range of sensor measurements such as temperature, humidity, pH, and movement and transmitting the data wirelessly using several protocols including NFC, BLE, and Sigfox. The tag and biofuel cell can be combined into a single solution. It targets applications such as IoT, medical, wearables, and logistics. Funds will be used to move toward commercialization and mass production, which it expects in 2024. Founded in 2020 as a spin off from Centre National de la Recherche Scientifique (CNRS), it is based in Grenoble, France.

Horizontal Na Energy raised over CNY 100.0M (~$14.0M) in a Series A round from Ronghe Jiuzhi Fund, Zhongxin Zhihui Fund, and Yuquan Compass Fund. The startup manufactures sodium-ion batteries and materials including cathode, anode, and electrolytes. Horizontal Na Energy is producing both high-capacity, long-cycle layered oxide cathode materials and low-cost Prussian blue cathode materials. It targets electric vehicles, including low-speed vehicles, as well as large-scale energy storage. The startup currently has a pilot line for materials and an experimental line for battery cells. Funds will be used for R&D, expansion of production capacity, and commercialization. Founded in 2021, it is based in Huzhou, China.

LionGo New Energy raised over CNY 100.0M (~$14.0M) in a Series A+ round from Hidden Hill Capital, JZ Capital, GRC Sino Green Fund, and others. LionGo produces battery electrolyte materials, offering solid state, hybrid solid-liquid, and liquid electrolytes for lithium-ion batteries, as well as sodium-ion liquid electrolytes. Funds will be used for production line construction and R&D. Founded in 2021, it is based in Hangzhou, China.

Star New Energy Technology drew nearly CNY 100.0M (~$14.0M) in pre-Series A funding from Oceanpine Capital. The startup makes all-vanadium redox flow battery energy storage systems. Funds will be used for R&D of its next generation product and key materials as well as to expand production capacity. Founded in 2021, it is based in Beijing, China.

Sicona Battery Technologies received AUD 22.0M (~$14.9M) in Series A financing led by Himadri Speciality Chemical, Artesian VC, and Waratah Capital, joined by Riverstone Ventures, Chaos Ventures, and Investible. Himadri previously announced its AUD 10.3M (~$6.7M) strategic investment contribution in May. Sicona develops a silicon-graphite-carbon composite battery anode material for lithium-ion batteries. It claims its anode material delivers 50% to 100% higher specific capacity than conventional graphite-only anodes and more than 50% higher cell energy density than current Li-ion batteries. It has also developed a hydrophilic-based binder which has a 3D network structure, improved electroconductivity, and self-healing properties. Funds will be used to further development plans, including a commercial-scale production plant in the U.S. Sicona also recently acquired a portfolio of patents relating to silicon-alloy anode materials, electrode design, and pre-lithiation. Founded in 2019, it is based in Sydney, Australia.

Planckian raised over €2.7M (~$3.0M) in pre-seed funding led by Eureka! Venture, with the participation of CDP Venture, Exor Ventures, and strategic angel investors. Planckian is developing quantum batteries, which use qubit-based architectures to store and manage energy. Instead of using electrons or ions, the device’s quantum particles move from a low-energy to high-energy state by absorbing photons. The startup says its architecture harnesses quantum effects such that qubits can reach their high-energy levels ‘collectively’ and in a timespan that decreases as their number and, consequently, the energy to manage increases. A spin-off of the University of Pisa and Scuola Normale Superiore founded in 2022, it is based in Pisa, Italy.

LiCAP Technologies received a $2.9M grant from the California Energy Commission. LiCAP develops manufacturing processes for lithium-ion battery electrodes, lithium-ion capacitors, and ultracapacitors. It uses an activated dry electrode process that it claims has lower energy consumption and a reduced manufacturing footprint compared to a typical wet electrode process, along with eliminating the use of NMP as a solvent. The funds will be used to build a 250MWh battery electrode production line. Founded in 2016, it is based in Sacramento, California, USA.

About:Energy drew £1.5M (~$1.9M) in seed funding from HighSage Ventures, Vireo Ventures, Plug and Play Ventures, Electric Revolution Ventures, and individual investors including Rishi Khosla, Fabrice Bernhard, Laura Webster, Mandeep Manku, and Nick Banner. About:Energy offers a battery data and virtual prototyping platform for battery design and selection, from materials and cells to entire systems. Its software platform provides a library of commercially available cells and their attributes alongside electrical, thermal, electrochemical, and degradation modeling capabilities. It integrates into other simulation workflows. Funds will be used for commercialization and development. Founded in 2021, it is based in London, UK.

Betterwhy received 2000.0M won (~$1.5M) in funding from Hyosung Ventures. The company offers a battery management system and cloud-based service for health monitoring of batteries in electric vehicles and energy storage systems. Founded in 2020, it is based in Waegwan, South Korea.

EneRol Nanotechnologies drew tens of millions of yuan (CNY 10.0M is ~$1.4M) in a Series A2 round from CICC Capital. EneRol makes nanofiber separators for supercapacitors. It is expanding to separators for other types of energy storage, including hybrid battery/capacitors, sodium-ion batteries, large-scale lithium iron phosphate energy storage systems, solid-state/semi-solid lithium-ion batteries, and water electrolysis membranes for hydrogen production. Funds will be used for expansion of production capacity for its supercapacitor diaphragm, improvements to its sodium-ion diaphragm pilot line, and R&D. Based in Ningbo, China, it was founded in 2016.

Hua Na New Materials raised tens of millions of yuan (CNY 10.0M is ~$1.4M) in strategic financing from battery maker VDL Group. The startup develops manganese-based layered oxide cathode materials for sodium-ion batteries. Funds will be used for product development, customer certification, and construction of a production line. Founded in 2022, it is based in Shenzhen, China.

Paragonage drew tens of millions of yuan (CNY 10.0M is ~$1.4M) in angel financing from Capchem, GEM Co., Shenzhen Senior Technology, SZZT Electronics, and J.S. Machine. Paragonage makes sodium-ion batteries for applications such as UPS, cellular base stations, energy storage, and electric 2- and 3-wheelers. It is focusing on cylindrical and prismatic aluminum shell form factors. The startup says its batteries can operate in harsh environments, including extreme temperatures. It plans to begin operation of its pilot line this year. Funds will be used for R&D and operations. Founded in 2022, it is based in Shenzhen, China.

Qi Na New Energy received tens of millions of yuan (CNY 10.0M is ~$1.4M) in angel+ financing from Cuiying Venture Capital. The startup produces polyanion cathode materials for sodium-ion batteries. Funds will be used for construction of mass production lines. Founded in 2022, it is based in Wuhan, China.

Top Technology received tens of millions of yuan (CNY 10.0M is ~$1.4M) in angel funding from Zhuhai Shiyuan Technology Partnership. The startup is developing lithium-manganese-rich batteries and materials. It claims its design provides automotive-grade safety, long service life, and lower weight. It is targeting EVs and light EVs as well as energy storage. Funds will be used to build an experimental line. Founded in 2019, it is based in Foshan, China.

WES New Energy drew tens of millions of yuan (CNY 10.0M is ~$1.4M) in pre-Series A financing from Yiren Capital. The company manufactures lithium-ion polymer batteries in cylindrical and prismatic form factors for consumer electronics. Founded in 2014, it is based in Huizhou, China.

Addionics received a grant from the UK Research and Innovation Faraday Battery Challenge. Addionics develops integrated 3D current collectors that can be used in any battery chemistry, which it says provides improved energy density and power, enhanced safety, and longer lifetime without raising costs. The company says the fabrication process utilizes AI optimization and can be dropped into existing manufacturing lines. The funds will support complete cell development, taking the 3DCC material through mixing, coating, calendaring and slitting, up to cell assembly, formation and aging. Founded in 2018, it is based in London, UK.

Circunomics received a strategic investment from Orlen VC. The startup provides a platform for reuse and recycling of EV batteries, including monitoring and prediction of battery condition to determine the best second life deployments. Founded in 2019, it is based in Mainz, Germany.

Enerpoly received grant and equity financing from the European Innovation Council Accelerator. Enerpoly develops and manufactures zinc-ion batteries for stationary energy storage. Its batteries use zinc metal as anode, manganese dioxide as cathode, and a water-based electrolyte and are suited for 2-10 hour durations. Founded in 2018, it is based in Stockholm, Sweden.

Exencell New Energy received strategic financing from Gree Group. Exencell manufactures lithium-ion and sodium-ion batteries. Its products include prismatic and large cylindrical lithium iron phosphate cells and lithium manganese iron phosphate cells, primarily for industrial, commercial, and residential energy storage, as well as uninterruptible power supplies and marine. Founded in 2021, it is based in Shenzhen, China.

GTC-Power drew Series B financing from Septwolves, Yufu Holding, and others. The company manufactures solid-state lithium sulfide batteries for consumer electronics, EVs, and energy storage systems. Founded in 2021, it is based in Zhuhai, China.

Nyobolt received a grant from the UK Research and Innovation Faraday Battery Challenge. Nyobolt develops ultra-fast charging battery anodes using niobium and tungsten. It says its anode enables 90% charging in less than 5 minutes, while having a high input power density, long cycle life, and wider temperature operating range with reduced fire risk. It initially targets the high-performance racing EV market, with plans to expand to mass-market EVs later this decade. Funds will be used to optimize manufacturing. Founded in 2019 as a spin out from the University of Cambridge, it is based in Cambridge, UK.

Solid New Material Technology drew pre-Series A+ financing from Shaanxi Investment Capital and CF Capital. The startup makes materials for solid-state lithium batteries. Its products include silicon-based anodes, silicon-oxygen anodes, self-repairing nano-silicon anodes, and solid-state electrolytes. Funds will be used for R&D and production capacity expansion. The company also plans to build a solid electrolyte pilot laboratory this year. Founded in 2019, it is based in Shenzhen, China.

TeraWatt Technology closed pre-Series C funding from Development Bank of Japan, INPEX Corporation, JIC Venture Growth Investments, Rakuten Capital, Mori Trust, GLIN Impact Capital, and several individual investors, along with existing investors including Temasek, Khosla Ventures, and JAFCO. 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. It is currently producing 5 to 8Ah commercial-grade cells. Funds will be used to strengthen pilot-product line-ups for larger applications and launch a large-scale pilot-production facility to validate logistics, productivity, and quality control toward mass production. Founded in 2020 as a spin off from EV components company SERES, it is based in Milpitas, California, USA.

Zhongrun Chemical received pre-IPO financing. The company produces chemicals used in lithium-ion battery manufacturing. Its products include n-methylpyrrolidone (NMP), a solvent used to clean electrodes. It is also used as a photoresist remover and a cleaning agent for display panels. Founded in 2016, it is based in Chongqing, China.

Other technologies

Aquila Earth raised AUD 3.0M (~$2.0M) in seed investment led by Blackbird Ventures, joined by Icehouse Ventures, Possible Ventures, and Startmate. Aquila Earth is developing an optical energy transmission system for long-range, wireless grids based on optical relay satellites, high-power lasers, computer vision, and wavelength-specific photovoltaics. Its initial focus is supplying power continuously to drones in flight. Founded in 2022, it is based in Sydney, Australia.

Table

Company Sector Amount Raised (M, USD) Funding Type HQ
Kore Power Batteries $850.0 Debt USA
YASC Power Semi $524.4 Series A China
Eswin Computing Processors & Logic $421.2 Series D China
Northvolt Batteries $400.0 Convertible Note Sweden
Xinhua Semiconductor Materials $140.5 Series B China
OnTime ADAS & Autonomy $117.1 Series B China
Celestial AI Photonics $100.0 Series B USA
Fuyang Sineva Materials $70.0 Series D China
Red 6 AR/VR $70.0 Series B USA
Forge Nano Equipment $50.0 Series C Colorado
Rockley Photonics Sensors $35.0 Venture USA
Fernride ADAS & Autonomy $31.0 Series A Germany
Tachyum AI HW $28.5 Grant Slovakia
Storlead Memory & Storage $28.1 Series A China
Guorun Energy Storage Batteries $27.6 Series A China
Ramon.Space Processors & Logic $26.0 Venture USA
Boston Micro Fabrication Equipment $22.4 Series D USA
Beiyi Semiconductor Power Semi $20.9 Series B China
Lepu Sodium Power Batteries $20.9 Series A China
Sourcemap Manufacturing $20.0 Series B USA
BeFC Batteries $17.2 Series A France
Algorithmiq Quantum $15.0 Series A Finland
CIX Technology Processors & Logic $14.0+ Series A China
Xinxiang Technology Manufacturing $14.0+ Series B China
Yunmao Technology Equipment $14.0+ Series A+, B China
Chip Carrier Semiconductor Company Materials $14.0+ Series A, A+ China
Ultichip Communication Technology Wireless $14.0+ Series C China
ConvenientPower Power Semi $14.0+ Strategic China
Jade Bird Display Displays $14.0+ Series A+ China
Automotive Intelligence and Control of China Auto Components $14.0+ Venture China
Bynav Technology Auto Sensors $14.0+ Strategic China
Windrose Technology ADAS & Autonomy $14.0+ Series A China
Turin Robot Equipment $14.0 Series A China
Sense++ Equipment $14.0 Series A China
Legendsemi Technology AMS $14.0 Series A China
Top Electronics Power Semi $14.0 Pre-A China
Enjoy Move Technology Auto Components $14.0 Series B2 China
iStarChip Auto Chips $14.0 Angel China
Meritech Integrated Circuits Auto Chips $14.0 Series A China
Horizontal Na Energy Batteries $14.0 Series A China
LionGo New Energy Batteries $14.0 Series A+ China
Star New Energy Technology Batteries $14.0 Pre-A China
SiMa.ai AI HW $13.0 Venture USA
JuliaHub EDA $13.0 Strategic USA
Fortify Equipment $12.5 Venture USA
Kiloway Wireless $11.2 Series C China
MatrixSpace Sensors $10.0 Series A USA
Viture AR/VR $10.0 Series A+ USA
Normal Computing AI HW $8.5 Seed USA
Sicona Battery Technologies Batteries $8.2 Series A Australia
Zero-Error Systems Processors & Logic $7.5 Series A Singapore
Gaianixx Manufacturing $6.9 Series B Japan
Aito Sensors $6.5 Venture Netherlands
Kvantify Quantum $5.8 Venture Denmark
Almer Technologies AR/VR $5.0 Seed Switzerland
Rapid Flex Processors & Logic $4.2 Seed China
Haiqu Quantum $4.0 Pre-Seed Ukraine, USA
Qunova Computing Quantum $3.8 Pre-A South Korea
Advanced Navigation Sensors $3.4 Grant Australia
Swave Photonics AR/VR $3.3 Seed Belgium
Brilliant Labs AR/VR $3.0 Seed Singapore
Planckian Batteries $3.0 Pre-Seed Italy
LiCAP Technologies Batteries $2.9 Grant USA
Cellid AR/VR $2.7 Venture Japan
Aquila Earth Ambient Power $2.0 Seed Australia
About:Energy Batteries $1.9 Seed UK
BOS Semiconductors Auto Chips $1.5 Strategic South Korea
Betterwhy Batteries $1.5 Venture South Korea
Calculet Semiconductor AI HW $1.4+ Seed China
Terapines Technology EDA $1.4+ Angel China
Advance Foundation Semiconductor Material Equipment $1.4+ Venture China
SiCentury Equipment $1.4+ Venture China
Sieg Technology Equipment $1.4+ Pre-A China
Yinguan Semiconductor Equipment $1.4+ Venture China
Jingdu Semiconductor Displays $1.4+ Venture China
ConstCurrent Materials $1.4+ Angel China
RealWay New Materials Materials $1.4+ Series A China
Fountain Semiconductor AMS $1.4+ Venture China
Grand Microelectronics AMS $1.4+ Series B China
Jinghuan Xinshi Semiconductor AMS $1.4+ Angel China
Digital Enhancement Wireless $1.4+ Series A China
EnergyMath Technology Power Semi $1.4+ Angel China
LightPiover Power Semi $1.4+ Angel China
Primechip Semiconductor Power Semi $1.4+ Angel China
Tech Seed Technology Power Semi $1.4+ Venture China
Dao Sensing Sensors $1.4+ Pre-A China
VicoreTek Sensors $1.4+ Venture China
Shineview Microelectronics Displays $1.4+ Pre-A China
Zhixing Wujie AR/VR $1.4+ Seed China
CAS-Juche ADAS & Autonomy $1.4+ Series A China
Echiev Automatic Driving Technology ADAS & Autonomy $1.4+ Series A China
EneRol Nanotechnologies Batteries $1.4+ Series A2 China
Hua Na New Materials Batteries $1.4+ Strategic China
Paragonage Batteries $1.4+ Angel China
Qi Na New Energy Batteries $1.4+ Angel+ China
Top Technology Batteries $1.4+ Angel China
WES New Energy Batteries $1.4+ Pre-A China
Zhongke Huizhi Equipment Technology Equipment $1.4 Angel China
Jiangci Electronics Materials $1.4 Seed China
Hantewin Intelligent Technology ADAS & Autonomy $1.4 Pre-A China
Novocomms Wireless $1.2+ Venture UK
NanoBioFAB Equipment $1.1 Venture USA
HQS Quantum Simulations Quantum $1.1 Venture Germany
NLM Photonics Photonics $1.0 Strategic USA
Kitronyx Equipment $0.8 Pre-A South Korea
Molecular Quantum Solutions Quantum $0.7 Pre-Seed Denmark
Revoh Innovations Auto Components $0.4 Seed India
Amazec Photonics Sensors $0.3 Convertible Note Netherlands
Panyauto Auto Components $0.1 Angel China
NeuReality AI HW Undisclosed Grant, Venture Israel
Lubis EDA EDA Undisclosed Grant Germany
GateGrid Technology Manufacturing Undisclosed Pre-A China
Shanghai Lianfeng Materials Undisclosed Series A+ China
SPL Electronics AMS Undisclosed Venture China
Chengdu SiCore Semiconductor Wireless Undisclosed Venture China
GrandeurRF Wireless Undisclosed Venture China
Cheery Energy Power Semi Undisclosed Venture China
Geener Microelectronics Power Semi Undisclosed Series A China
IceMOS Technology Power Semi Undisclosed Grant UK
Pace Electronics Power Semi Undisclosed Series A China
Wave Photonics Photonics Undisclosed Grant UK
QC Design Quantum Undisclosed Seed Germany
Infleqtion Quantum Undisclosed Grant USA
Orange Quantum Systems Quantum Undisclosed Grant Netherlands
Zero Point Motion Sensors Undisclosed Grant UK
Angoka Security Undisclosed Grant UK
Crypto Quantique Security Undisclosed Grant UK
Guangqi Image Displays Undisclosed Pre-A China
Morphotonics Displays Undisclosed Grant Netherlands
NewHaptics Displays Undisclosed Venture USA
AcMotion Automotive Technology Auto Components Undisclosed Angel China
Chiplego Technology Auto Chips Undisclosed Venture China
Muye Microelectronics Auto Sensors Undisclosed Pre-A+ China
Ottonomy ADAS & Autonomy Undisclosed Venture USA
Addionics Batteries Undisclosed Grant UK
Circunomics Batteries Undisclosed Strategic Germany
Enerpoly Batteries Undisclosed Grant, Venture Sweden
Exencell New Energy Batteries Undisclosed Strategic China
GTC-Power Batteries Undisclosed Series B China
Nyobolt Batteries Undisclosed Grant UK
Solid New Material Technology Batteries Undisclosed Pre-A+ China
TeraWatt Technology Batteries Undisclosed Pre-C USA
Zhongrun Chemical Batteries Undisclosed Pre-IPO China

Funds & investors

Silicon Catalyst added four companies to its incubator program, which provides access to a network of technical and business advisors, partners providing goods and services, strategic partners, and investors for semiconductor startup companies. The new companies are:

  • Cambridge Terahertz: CMOS phased array technology for radar imaging in the terahertz spectrum.
  • Liitto: Hardware that monetizes otherwise wasted clean energy by converting it to useful computation.
  • Veevx: Intelligent memory chiplets that are non-volatile, high performance, high density, and ultra-low power.
  • Weeteq: Circuit-level artificial intelligence technology for predictive maintenance of manufacturing equipment.

Fortune Capital made the first close of its latest fund at around CNY 5.0B (~$705.6M). The firm invests in electronics and semiconductor companies, along with manufacturing, IT, new energy, health and medical, consumer, and military industries. It targets a total of CNY 8.0B (~$1.1B) for the fund.

IQ Capital closed its fourth venture fund at $200.0M. The firm invests in seed and Series A rounds of deep tech companies, including computing and interfaces, new materials, quantum hardware and algorithms, AI, space tech, cyber and data security, and synthetic biology. It also launched a $200.0M growth fund to provide follow-up funding to portfolio companies.

Wuxi Capital Group, Binhu State-owned Capital Investment, and Prosperity & Vision Fund teamed up to create a CNY 1000.0M (~$139.9M) fund to support startups developing next-generation photonic chips and quantum photonics in Wuxi, China.

Voima Ventures made the first close of a €90.0M (~$97.1M) fund to invest in Nordic and Baltic early-stage deep tech companies. The fund targets a hard cap of €120.0M (~$129.5M). It focuses on science-based startups in advanced manufacturing, imaging and optics, IoT and electronics, quantum and AI, new materials, life sciences and health, and green tech.

Supernova Invest made the first close of its latest seed fund at €75.0M (~$81.6M), with a final target of €100.0M (~$108.8M). The Supernova Innovation 3 fund will focus on around twenty European deep tech startups. It has previously invested in several semiconductor, photonics, and display companies.

Octopus Investments launched a £40.0M (~$50.9M) fund to support pre-seed deep tech startups from the UK and Europe. Focus areas include quantum solutions, photonics and electronics, advanced materials, robotics, agtech, and AI.

ventureLAB launched an investor network supporting pre-seed and seed stage Canadian hardware and semiconductor startups. Along with investment opportunities, the Hardware Angel Network will help startups with validating and prototyping their technology.

The European Innovation Council launched the EIC Scale Up 100 initiative, a two-year program that will support the growth of 100 European deep tech startups with the potential to become unicorns.

Sequoia Capital is splitting off its China and India/Southeast Asia arms. Sequoia Capital China, a frequent investor in semiconductor startups, will become HongShan, while Sequoia Capital India will become Peak XV Partners.

Quantum Delta NL, a public-private organization that supports the Dutch quantum ecosystem, received a €60.2M (~$65.4M) investment from The National Growth Fund of the Netherlands as part of a joint program with France and Germany to strengthen strategic R&D connections across borders to accelerate the development of the European quantum technologies industry.

AI applications

More companies are throwing money into generative AI, with Salesforce planning to double the size of its generative AI fund to $500.0M and Dropbox launching a $50.0M AI-focused venture fund. It also dominated the largest funding rounds for AI applications in June.

Inflection AI raised $1300.0M for its large language model and chatbot that uses a conversational style. It is also planning to set up a 22,000 GPU AI compute cluster.

Cohere raised $270.0M in Series C in Series C to help enterprises adopt LLM-powered natural language processing for things like interactive chat features.

KoBold Metals raised $195.0M in Series B to analyze geological data with AI to identify potential critical mineral mines.

Runway AI raised $141.0M in Series C for AI video generation from text prompts.

Mistral AI raised $113.0M in a seed round to build open-source models for enterprise-focused text-based generative AI using publicly available data.

Typeface raised $100.0M in Series B for text and image generation tailored to a company’s brand.

Source: https://semiengineering.com/startup-funding-june-2023/