Xi’an ESWIN Material, the integrated circuit (IC) and solutions unit of Beijing ESWIN Technology Group, has secured 4 billion yuan ($575.7 million) in a Series C round led by CNBM New Materials Fund, making it the largest ever funding round raised by a semiconductor firm.
CNBM New Materials Fund is a 20-billion-yuan ($2.8 billion) new material-dedicated industry fund backed by China National Building Material (CNBM). Most recently, the fund led the $78.6-million Series B round of FTXT Energy Technology, a Chinese developer of hydrogen fuel cell technology. CNBM is the biggest cement and gypsum board producer in China.
The round, participated by a slew of investors such as Source Code Capital, Yufu Holding Group, Financial Street Capital Operation Group, Chang An Hui Tong, Shang Qi Capital, SDIC Venture Capital, Hudson Capital, and Guangtou Capital Management Group, has brought the firm’s total raised capital to over 10 billion yuan ($1.4 billion).
Existing shareholders including China Life Private Equity Investment, China Zongji Investment, Puyao Capital also re-upped in the round. Previously, the firm announced the completion of its Series B round of financing after raising over 3 billion yuan ($464 million) in August 2021.
Founded in March 2016, Beijing ESWIN Technology Group, the parent firm of ESWIN Material, engages in businesses covering integrated circuits (ICs) and solutions, silicon materials, and advanced packaging & testing. The firm specialises in the development of 12-inch monocrystalline silicon polished wafers and epitaxial wafers and offers advanced packaging & testing services for IC products, and chip-on-film tapes, among others.
ESWIN Technology Group bagged 2.5 billion yuan ($392.4 million) in a Series C round of financing led by Goldstone Investment and CITIC Securities last December.