Chinese power chip designer Marching Power closes 500 mln yuan Series C round
Shanghai (Gasgoo)- Chinese power chip designer Marching Power announced on Dec. 16 it has secured over 500 million yuan ($78.51 million) in the Series C round, which was led by CDH Investments and attracted other investors including BAIC Capital, Gaorong Capital, CASH Capital, Guiyang Venture Capital, Xinchao Group, Huajin Capital, and V Fund. Index Capital served as the financial consultant.
The company said the money raised will be poured in the R&D of the products for new energy vehicle and photovoltaic industries and used to further expand its production capacity.
Photo credit: Marching Power
Founded in 2017, Marching Power has three product lines for the IGBT series, the MOSFET (metal–oxide–semiconductor field-effect transistor) series, and the module series. Its module packaging line is capable of potting and plastic-packaging the modules designed for NEVs and industrial control devices, and the IPMs (intelligent power modules) for home appliances.
According to the company's research statistics, the global market size of power semiconductors has hit over 260 billion yuan ($40.823 billion), about 40% of which are held by China's market. The country is facing rapid expansion of power semiconductor market scale thanks to the robust downstream demands, most of which are from automobile industry. Thanks to the boom in NEVs, the size of Chinese automotive power semiconductor market is expected to reach 27 billion yuan ($4.24 billion) in 2025.
Zhu Yangjun, CEO of Marching Power, told a local media outlet that the company will principally center efforts and resources on three fields over the next three to five years: the industrial control, the inverter appliance, and the new energy, which embraces three segments including automotive mobility service, energy storage, as well as electricity generation using wind or solar power.
Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:email@example.comSeller Service:firstname.lastname@example.org