X-EPIC, which provides electronic design automation (EDA) software and solutions to businesses, has completed its Series B round raising “several hundreds of million” yuan, it said in a statement.
The company will use the fresh funding to ramp up its product offerings and for team expansion.
The Series B round was led by Zhongdian Zhongjin, a fund set up by CICC Capital, the private equity fund management platform of Hong Kong-listed investment bank CICC. It was also co-led by state-owned China Electronics Corporation, and a wholly-owned subsidiary of Wuhan Optics Valley Union Group, according to Aiqicha data.
Wuhan Optics Valley Union Group is a wholly-owned unit of Hong Kong-listed China Electronics Optics Valley Union Holding, which specialises in the operation of industrial parks in China.
The round was joined by Mirae Asset and Henglu Asset.
Since its inception in March 2020, the firm has raised several fundraising rounds to support its growth. Last May, the firm bagged 400 million yuan ($62 million) in a Pre-B round led by YF Fund, the privately-owned investment firm of Alibaba’s founder Jack Ma.
X-EPIC’s early-stage investors include V Fund, 5Y Capital, Green Pine Capital Partners, ZhenFund, and China Fortune-Tech Capital, among others.
CHINA DEAL MONITOR
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