Chinese chip maker SJ Semiconductor has raised nearly $340 million in its Series C extension round, according to a release.
The firm signed the first batch of investment agreements to this effect on March 29. The latest extension round values the firm at $1.8 billion.
The round, joined by Legend Capital, takes the firm’s total capital raised to $1 billion. The proceeds will help the firm to expand the second phase of its 3D multi-chip integration and packaging project, according to a release published by Legend Capital via WeChat.
Its latest fundraising news comes a year after the firm snagged $300 million in a Series C round in March 2022, which saw the participation of Walden CEL Global Fund, CCB Private Equity Investment Management, CCB Trust, Country Garden Venture Capital, and Huatai International, among others. The Series C round valued the company at over $1 billion, earning it the unicorn moniker.
Founded in August 2014, the Jiangyin-based firm offers a 12-inch wafer bumping and testing service, an advanced wafer-level processing technology that is key to semiconductor packaging.
It counts China’s state-owned Oriza Holdings affiliate entities – Oriza Rivertown and Oriza Hua Capital – and CICC Capital, an investment arm of investment bank China International Capital Corp, among its backers.
Semiconductor firms have continued to ride on the tailwind, as the country strives for self-reliance in chipmaking amid intensifying crackdown from the US. Startups in the industry sealed 27 deals in February, shows proprietary data compiled by DealStreetAsia.