China’s auto-grade semiconductor firm SiPower closes third funding round

Shanghai (Gasgoo)- Suzhou Xizhi Technology Co., Ltd. ("SiPower"), a Chinese third-generation semiconductor high-tech company, announced on August 14 it has successfully concluded its third funding round, amassing nearly 100 million yuan.

The company said this funding infusion is primed to propel its product R&D efforts, facilitate equipment procurement, and meet the swiftly growing demand from clients.

Photo credit: SiPower

SiPower is a forward-looking materials and power electronics application company with comprehensive capabilities spanning product development, manufacturing, and business operations. Its current focus resides in the realm of innovative power and power supply plastic-coating modules for intelligent electric vehicles and clean energy applications. With branch establishments in Suzhou and Shanghai, the company boasts an employee count of nearly 200, including roughly 50 individuals holding master's or higher degrees. 

Product lineup of SiPower; photo credit: SiPower

The company said it features one of the most advanced automotive-grade encapsulation production line in China, coupled with performance testing (including system-level), reliability testing, and failure analysis laboratories.

The latest funding round is jointly led by Huaxu Fund and C&D Emerging Investment (an investment firm under Xiamen C&D Group). As of now, within a mere year and a half of official operation, SiPower has successfully secured almost 200 million yuan across three rounds of funding. Its roster of investors includes premier semiconductor industry funds, prominent automakers, starups, as well as core upstream and downstream resource providers.