110 companies raise $1.9 billion; VCs focus on power semis, automotive, and battery startups. Chinese investment remains strong.

Investors funneled $1.9 billion into startups last month. The total was down from the previous few months for companies tracked by Semiconductor Engineering, but still a strong showing for the chip industry and related technologies.

By market segment, power devices were a bright spot in August’s funding, with 12 companies receiving new financing rounds. A manufacturer of multilayer ceramic chip capacitors drew nearly $300 million, the month’s largest round.

Other areas with lots of activity were automotive and batteries, where 20 startups making ADAS, autonomous driving systems, or supplying parts for vehicles raised a collective $265 million. The largest round went to a startup enabling object identification in harsh weather conditions. On the battery side, 14 companies collectively raise $375 million. These companies covered the entire spectrum, from mining raw materials and manufacturing precursors, to recycling and re-using them once they’ve reached the end of their useful life.

Investments in China outpaced the rest of the market. Chinese companies represent about 75% of those covered in this report, and took the two largest rounds for the month.

Other areas of focus include data center storage management, microLED-based chip-to-chip interconnects, chiplets, and a new type of qubit.

Pliops raised $100.0M in a Series D round led by Koch Disruptive Technologies, joined by SK Hynix, State of Mind Ventures Momentum, individual investor Lip-Bu Tan, and previous investors. Pliops makes a storage processor it says simplifies the way data is processed and flash is managed. Its technology is available as a hardware-enabled storage engine deployed in a PCIe card form factor or as a cloud service that the company says can improve the cost, performance, and endurance of SSD storage and accelerate the processing of data-intensive applications in data centers. Founded in 2017, Pliops is based in Ramat Gan, Israel, and has raised over $200M to date.

Ventana Micro Systems raised $55.0M in new funding. Ventana is developing data center class high-performance RISC-V CPUs with extensible instruction set capability delivered in the form of multi-core chiplets. The company also offers a customizable SoC chiplet for cloud, enterprise data center, 5G, edge compute, and automotive applications. Funds will be used to productize its chiplets, and it expects tape out of its first UCIe (Universal Chiplet Interconnect Express) chiplet products in the second half of next year. Ventana’s cores and chiplets will be available through the Intel Foundry Services ecosystem. Based in Cupertino, California, USA, it was founded in 2018.

Eaglechip, also known as Yige Technology, raised CNY 286.0M (~$41.5M) in angel financing that included Matrix Partners China, Redpoint China Ventures, Sequoia Capital China, CTC Capital, and VLight Capital. Eaglechip designs high-end FPGAs and associated EDA toolchains. Its first product, a 500K LUT FPGA, is expected to launch within two years. Funds will be used for new product development. Based in Suzhou, China, it was founded in January 2022.

KunGao Micro raised nearly CNY 200.0M (~$29.4M) in a Series A round from Shangqi Capital, BAIC Capital, Shenzhen Venture Capital, Jucheng Capital, Puhua Capital, YF Capital, BOCOM International, Dingxin Capital, China Capital Management, and others. KunGao Micro is developing Ethernet PHY, gateway, and time-sensitive networking (TSN) switching chips. Its target markets are automotive electronics, industrial Internet, rail transit, smart grid, and smart buildings. Funds will be used for R&D, mass production of its TSN switching chip, and hiring. It expects to tape out its gigabit PHY and gateway chips later this year. Based in Kunshan, China, it was founded in 2019.

Nuclei Technology raised hundreds of millions of yuan (CNY 100.0M is ~$14.7M) in new financing led by Legend Capital and joined by Accurate Capital, Bluerun Ventures, C&D Emerging Investment, Xiaomi, Shanghai International Group, Shougang Fund, Sunic Capital, Xianghui Capital, Zhejiang Paradise, and Zhongguancun Development Frontier Enterprise Investment Fund. Nuclei Technology develops RISC-V CPU IP. It offers a range of processors from low-power 32-bit, 2 stage pipeline cores for MCUs and IoT devices through to high-performance 64-bit, 9 state pipeline architectures capable of running Linux for data center, networking, and baseband applications. Funds will be used to develop IP targeted for security, automotive, and AIoT applications. It also plans to develop hard IP for chiplets and explore heterogenous systems using its cores. Based in Shanghai, China, it was founded in 2018.

KiwiMoore raised CNY 100.0M (~$14.7M) in angel and seed funding led by CasStar and joined by Fosun Capital, Junsan Capital, Step Fund, and others. KiwiMoore designs 2.5D and 3D IC chiplets and enabling technology, including a high-performance silicon interposer and chiplet software design platform for high-speed communication interfaces, distributed near memory compute, and high-efficiency power networks. The startup also offers an advanced packaging shuttle line, a library of chiplets, and design services. It targets chips designed for markets such as next-generation data centers, autonomous driving, and the metaverse. Funds will be used for R&D, hiring, and marketing. Based in Shanghai, China, it was founded in 2021.

Corintis raised CHF 0.2M ($0.2M) in funding from Venture Kick. Corintis is developing silicon microfluidic cooling technologies that enable liquid coolant to flow in direct contact with the silicon chip, including high density and vertically integrated IC designs. It says its monolithic, 3-dimensional network of microscopic channels enables 2,000 W/cm of heat extraction, extremely low pressure drop, and reduced coolant consumption. The startup is currently establishing pilots with industrial partners and will use funding to further accelerate the commercialization of its cooling technology. Founded in 2022, it is based in Lausanne, Switzerland.

IC Bench received pre-Series A funding from Intel Capital, Lenovo Capital, and EDA company Primarius Technologies. IC Bench provides chip design services from concept through to manufacturing, and says it has produced several SoC designs based on RISC-V. The startup is also developing EDA tools. Based in Shanghai, China, it was founded in 2020.

Nano-Core Chip raised CNY 200.0M (~$29.4M) in Series A and A+ rounds, with investors including Degui Capital, AVIC Lianchuang, Mingshi Investment, Addor Capital, Lenovo Capital, and Oriental Fortune Capital. Nano-Core Chip develops chips for artificial intelligence internet of things (AIoT) devices utilizing an ultra-low power event-driven chip architecture, closed-loop adaptive near-threshold circuit, ultra-low power high-precision sensing technology, and energy-efficient embedded AI engine technology. Applications for its chips include consumer electronics, wearables, smart home, and household appliances. It also plans to explore other fields such as new energy vehicles, robots, unmanned vehicles, intelligent manufacturing, and smart cities. Founded in 2021, it is based in Hangzhou, China.

Listenai received hundreds of millions of yuan (CNY 100.0M is ~$14.7M) in pre-Series A funding led by Oriza Holdings and Cedarlake Capital, joined by FutureX Capital, Bohai Zhongsheng, and others. Listenai develops artificial intelligence internet of things (AIoT) SoCs and AI algorithms. Its first mass-produced product is a voice recognition and interaction chip for applications such as home appliances, offices, consumer electronics, and smart vehicles. It integrates an MCU and DSP along with a self-developed neural network processor (NPU). A series of chips that include Bluetooth and Wi-Fi 6 is planned for release in the near future. It also plans to expand to high-performance multi-modal interaction chips. Funds will be used for R&D and hiring. Based in Hefei, China, it was founded in 2020.

MakeSens raised nearly CNY 100.0M (~$14.7M) in pre-Series A funding from Kuangyuan Industry Investment Fund, SEE Fund, LongDing Capital, Zhongyang Rongzheng Fund, and Amino Capital. MakeSens develops near-sensor analog in-memory computing chips for core neural network operations, which it claims can reduce energy consumption by two to three orders of magnitude compared with traditional solutions. Its first product targets intelligent voice and vision recognition applications. Funds will be used for mass production, which is expected to begin at the end of the year, as well as for development of its next generation product and hiring. Based in Beijing, China, it was founded in 2020.

Pimchip, also known as Pingxin Technology, raised tens of millions of dollars in Series A funding led by Primavera Capital Group, joined by Redpoint Ventures China, Sequoia Capital China, ZhenFund, and previous investors. Pimchip is developing in-memory computing AI accelerator chips. Its chip uses SRAM, which it says provides lossless accuracy and short read and write delay during calculation, making it suitable for scenarios such as automatic driving and drones. The company says it has completed three product tapeouts down to 28nm, with one chip focused on voice control for mobile, IoT, and wearables. It is also investigating in-memory computing chips based on new memory technologies. Funds will be used for R&D and to expand to more applications. Based in Beijing, China, it was founded in 2021.

Anaflash raised seed funding from Mirae Asset, We Ventures, Lotte Ventures, and Bluepoint Partners. It also received Technology Enhancement for Commercial Partnerships (TECP) supplementary funding from the National Science Foundation. Anaflash developed a standard logic based non-volatile neural network accelerator for edge devices. The startup says its technology enables the integration of flash memory without any additional processing steps beyond the baseline processor manufacturing steps, making it cost-efficient and scalable for battery powered devices such as wearables, sensors, and robots. Funds will be used to accelerate commercialization. Founded in 2017, it is based in Sunnyvale, California, USA.

Enflame Technology raised Series C+ financing from investors including China Equity, China Integrated Circuit Industry Investment Fund, CICC, Conduit Ventures, CITIC Private Equity, Delta Capital, Fusion Capital, National Capital Fund, Oceanpine Capital, Primavera Capital Group, Redpoint Ventures China, Shanghai STVC Group, Summitview Capital, Tencent, Yun He Capital, ZhenFund, and Zhongqing Zhenghe Technology Venture. Enflame focuses on AI accelerators for the data center. The startup has several product lines, including an AI chip and cards specialized for either training or inference. It also provides Open Compute Project (OCP)-compatible acceleration modules and supporting software. Based in Shanghai, China, Enflame was founded in 2018.

Stream Computing received Series B+ funding led by Yangtze River Industry Fund. Stream Computing develops neural network accelerator processors based on the RISC-V ISA. The company currently offers an accelerator card that supports FP16/INT8 data types as well as a development framework. It targets cloud server video, picture, and text content recognition and semantic conversion. Founded in 2019, it is based in Beijing, China.

Yinguan Semiconductor raised over CNY 200.0M (~$29.4M) in new funding led by CCB Investment and Juntong Capital, joined by Jizi Investment, Addor Investment, Costone Capital, Fujian Zhanxin, and Grit Ventures. Yinguan Semiconductor makes motion control systems for semiconductor equipment, including precision motion platforms, specialized motors, piezoelectric products, and drive control products. Funds will be used for R&D, increasing production line capacity, and hiring. Founded in 2019 as a spin out from Fudan University, it is based in Shanghai, China.

Luminovo raised €11.0M (~$11.2M) in seed funding led by Chalfen Ventures with participation by Tencent, Verve Ventures, and Khadjavi Capital Partners, as well as existing investors La Famiglia and Cherry Ventures. Luminovo offers a cloud-based software suite to streamline the PCB quoting process, including material and production costing. It provides electronics manufacturers and PCB suppliers relevant component information such as lifecycle, availability, lead time, price, and compliance of parts in real time and before prototypes are built. Based in Munich, Germany, it was founded in 2020.

DataProphet closed a $10.0M Series A round led by Knife Capital, joined by Industrial Development Corporation and metal surface equipment provider Norican. DataProphet provides AI-powered manufacturing process optimization solutions for manufacturing industries. For semiconductor, the company offers continuous process optimization and prescriptive AI algorithms it says can mitigate the risk of yield loss by identifying the root cause of complex failures, categorizing known yield detractors, and flagging new risk patterns. The company says its solutions parse historical process behavior from wafer epitaxy to mask manufacturing substeps such as photolithography and chemical mechanical planarization, all the way through to die bonding, burn-in testing, and assembly. Other industries it targets are automotive, rubber, and metal foundries. “Going forward, we will use this additional funding to accelerate and expand into new markets, build new relationships aligned with our machine builder strategy, and further our global expansion. Another important pillar is bringing in top talent to build on this momentum,” said Frans Cronje, CEO of DataProphet. Founded in 2013, it is based in Cape Town, South Africa.

Lytica received over CAD$13.0M (~$10.0M) in Series A funding led by Resolve Growth Partners, with participation from York IE. Lytica provides a software platform that tracks electronic component spend using real pricing data and uses AI to manage supply chain risk and find ways to reduce costs. “This latest round of funding allows us to scale our operations and provide the best possible experience to our customers,” said Martin Sendyk, President and CEO of Lytica. Founded in 2005, it is based in Ottawa, Ontario, Canada.

Finern raised Series A+ financing from China Fortune-Tech Capital, Oriza Holdings, and others. The company offers factory automation equipment for manufacturing, test, and assembly of consumer electronics, automotive electronics, and batteries. Its products include equipment for flexible printed circuit test, optical module packaging, display test, ECU assembly and test, and lidar assembly and test. Founded in 2011, it is based in Shanghai, China.

Ningbo Qixin Semiconductor Technology received angel financing from Hangzhou Changjiang Venture Capital. The company offers electromechanical integration systems and computer integrated manufacturing (CIM) for cleanrooms and semiconductor fabs. Based in Ningbo China, it was founded in 2019.

Sharetek received new venture funding from Huaqing Capital and Fengqiao Capital. Sharetek manufactures industrial automation equipment for semiconductor, automotive and consumer electronics, and other industries. Its products include including vacuum reflow soldering, wafer mounting, test automation, automatic assembly, and welding machines. It also offers a variety of software for industrial automation, including manufacturing execution system (MES) and an industrial IoT platform. The company says it has built out a complete auto-grade IGBT automatic packaging and testing factory. Funds will be used for R&D, construction of new production and R&D facilities, and hiring. Founded in 2007, it is based in Shanghai, China.

CIMS raised over CNY 250.0M (~$36.6M) in funding from CDH Investments. CIMS provides automated optical inspection solutions, automated final/visual inspection solutions, metrology and add-on inspection options, and system upgrade solutions for PCB, high density interconnect PCB (HDI PCB), flex and rigid-flex PCB, and IC substrates. Funds will be used for R&D and expanding to new applications. Founded in 2005 as a subsidiary of Camtek, it spun out into an independent company in 2017. It is based in Suzhou, China.

Zenfocus Semiconductor Technology raised hundreds of millions of yuan (CNY 100.0M is ~$14.7M) in a Series B round led by the Beyond Moore Fund, joined by China Fortune-Tech Capital, Fortune Venture Capital, GP Capital, Hefei Industry Investment Group, Royal Sea Capital, Shenzhen High-tech Investment and Equity Investment Fund Management, Stonybrook Capital, and Yunhao Capital. Zenfocus provides test interfaces for wafers and finished products, including ATE test boards, high-speed 2D/3D MEMS probe cards, multi-layer organic substrates, multi-layer ceramic substrates, and memory probe cards. Based in Shanghai, China, it was founded in 2015.

Sandtek Corporation raised CNY 100.0M (~$14.7M) in funding from Hillhouse Capital, Yongxi Capital, and others. Sandtek is a test solutions provider. It specializes in ATE product development, test cell integration, and consulting services for digital, analog, mixed signal, and RF. Founded in 2016, it is based in Shanghai, China.

Avant Semiconductor raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in pre-Series A funding from Hundreds Capital and others. Avant Semi makes front-end inspection and measurement equipment. Its first product, an automated epitaxial film thickness and element measurement system for 6- and 8-inch wafers, uses FTIR (Fourier Transform Infrared Spectroscopy) for non-destructive, high-sensitivity analysis. Along with epitaxial layers, it can also measure photoresist thickness, CMP polished thickness, and element concentrations. The company recently announced its first shipment to customers. Funds will be used for mass production and development of new equipment. Based in Shanghai, China, it was founded in September 2021.

Dihuge Automation raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series B1 financing led by Lufeng Investment and joined by Yonghua Investment. Dihuge develops machine vision and deep learning-powered industrial software for defect detection and inspection. It targets consumer electronics, semiconductor wafers, and 5G filters. It has recently expanded into lithium battery inspection and positioning, including diaphragms, lamination, and soft-packed cells. Based in Hefei, China, it was founded in 2017 as a spin out from the Chinese Academy of Sciences.

Infinitesima received new investment led by Wonik Investment Partners. Infinitesima develops metrology technology and systems for semiconductors. The company says its atomic force detection system, Rapid Probe Microscope (RPM), combines the 3-dimensional surface detection capability of atomic force microscopy with high-speed laser activation and the accuracy of interferometry. The RPM technology is available as a module suitable for integration into third party equipment for hybrid metrology and inspection applications or for integrated process control. Funds will be used to ramp production of its own 300mm in-line wafer metrology system, which incorporates the RPM, with customer shipments expected to begin at the end of the year. A spin out from Bristol University founded in 2001, it is based in Abingdon, UK.

Fuyang Sineva raised CNY 500.0M (~$74.2M) in Series C financing led by China Capital Investment Group and CDB Manufacturing Transformation and Upgrade Fund, joined by CNBM New Material Fund, Optics Valley Industrial Investment, Huoyan Fund, and others. The company makes KrF and ArF photoresists, OLED materials, semiconductor wet electronic chemicals, and other specialty materials. Funds will be used for R&D and to expand production. A subsidiary of Sineva Group, it was founded in 2013 and is based in Fuyang, China.

Hygood New Technology drew over CNY 300.0M (~$43.8M) in funding from investors including Haiwang Capital. Hygood manufactures aluminum nitride (AlN) ceramic substrates and components, which have high thermal conductivity and electrical insulation. Its substrates are used in power ICs, LED packages, RF/microwave communications, automotive electronics, and image sensing. Founded in 2008, it is based in Wuxi, China.

Crystro Crystal Materials raised nearly CNY 100.0M (~$14.7M) in Series A funding led by Bridge Capital China. Crystro Crystal Materials specializes in the processing and manufacturing of crystal materials, including optical communications crystals, RF filter crystals for SAW and BAW filters, laser crystals, and piezoelectric crystals, as well as the design and production of optical devices. Funds will be used to expand production capacity, R&D, procurement of process equipment, and the construction of purification plants. Founded in 2017, it is based in Hefei, China.

Rivergate Electronics, also known as Haoyuan Technology, raised new funding from Bridge Capital. The company produces LED packaging substrates, IC packaging substrates, and ceramic copper clad laminates. Based in Jiangmen, China, it was founded in 2018.

Rayson Technology raised hundreds of millions of yuan (CNY 100.0M is ~$14.7M) in a Series B round from Huaqing Capital, Fortune Venture Capital, and Zhi Bo Investment. Rayson Technology designs, packages, and tests memory, including eMMC, DDR3, DDR4, LPDDR4/4X, LPDDR5, eMCP, and uMCP. Target applications include mobile phones, tablets, set-top boxes, TVs, vehicles, and IoT. Based in Shenzhen, China, it was founded in 2016.

United Memory Technology (UMT) drew hundreds of millions of yuan (CNY 100.0M is ~$14.7M) in Series A funding led by Shenzhen Guohong Investment, followed by King Capital, Langke Investment, All Things Life, Wuxi Xinshang, and others. UMT designs and manufactures high reliability memory for automotive and AIoT applications. It currently offers SPI NAND flash and DDR3L. Based in Wuxi, China, it was founded in 2021.

Unim Innovation Technology raised over CNY 100.0M (~$14.7M) in pre-Series A financing from Huashan Capital, Mouhua Science and Technology, and Henan Science and Technology Investment. Unim develops flash memory chips, including SLC NAND and MLC NAND. It focuses on small to medium capacity storage products for consumer electronics, IoT, surveillance, network equipment, and other applications. Funds will be used to launch its first product, with a second to follow next year. Based in Wuxi, China, it was founded in 2021.

IPSoar Microelectronics raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in a Series A+ round from Oriza Holdings, Destination Beyond Investment, and SR Capital. The startup develops memory IP and foundation IP, including memory compiler, TCAM compiler, standard cell library customization, and custom SRAM. It currently supports process nodes from 180nm to 12nm. Funds will be used for R&D and hiring. Based in Suzhou, China, it was founded in 2018.

Sinh Microelectronics raised nearly CNY 100.0M (~$14.7M) in Series B funding. Sinh Micro develops 32-bit RISC-V and 8-bit mixed-signal MCUs that integrate power ICs and battery management capabilities. Its targets a range of applications including TWS earbuds, IoT, smart appliances, power tools, personal care devices, and wearables. Funds will be used for R&D, hiring, and expanding production capacity. Based in Zhuhai, China, it was founded in 2017.

Qianhong Microelectronics drew nearly CNY 10.0M (~$1.5M) in angel financing from Sichuan Shengpai Enterprise Management Partnership and Shenzhen Daochun Ruixin Investment Partnership. Qianhong Microelectronics develops analog chips for high-speed broadband, high-precision signal processing, and power management, including broadband operational amplifiers, transimpedance amplifiers, and high-speed drivers. It targets industrial, automotive, and commercial aerospace markets. Funds will be used for R&D and to expand its product offerings. Founded in 2020, it is based in Shenzhen, China.

Leto Technology drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in pre-Series A financing from Addor Capital. The startup designs high-performance MCUs and SoCs for power management, sensing, and signal conditioning applications. Among its products is a continuous glucose monitoring chip that integrates ADC, DSP, DAC, programmable transimpedance amplifier, temperature sensor, and external communication. The company says that aside from CPU and memory, it develops the rest of its IP in-house. Funds will be used for mass production and expansion of the R&D team. It also plans to expand beyond medical applications to automotive. Founded in 2020, it is based in Shenzhen, China.

AccuSilicon raised Series B funding from Huawei’s Hubble Investment. The company makes analog and mixed-signal chips, including analog switches for USB Type-C and MIPI D-PHY, overvoltage protection chips, ADC/DAC, DSP, clock driver/amplifier and clock generator chips, crystal oscillators, and integrated modules. It primarily targets smartphones and audio/video equipment, and additionally offers development services. Based in Guangzhou, China, it was founded in 2014.

FourSemi raised Series C+ funding from Whale Capital and others. FourSemi makes mixed-signal audio chips, including audio power amplifiers, SPC audio amplifiers, medium and high power amplifiers, and haptic drivers. The company currently focuses on consumer electronics and plans to use the funding to expand into automotive-grade audio amplifiers. Based in Shanghai, China, it was founded in 2016.

Viiyong Electronic Technology raised nearly CNY 2000.0M (~$295.0M) in Series B and B+ financing from investors including SDIC Venture Capital, GF Securities, CITIC Securities, and Guangdong Technology Financial Group. Viiyong manufactures multilayer ceramic chip capacitors (MLCC). It targets high-end MLCC markets, particularly high capacitance MLCC, automotive MLCC, RF MLCC, ultramicro MLCC, and high temperature MLCC. Applications include consumer electronics, network equipment, household appliances, IoT, servers, and industrial electronics. Funds will be used to bring its first two plants up to full production, with an expected annual output to reach 600 billion pieces. It also has further expansion planned. Founded in 2017, it is based in Luoding, China.

Chuangxin Microelectronics, also known as ICM Semi, raised nearly CNY 200.0M (~$29.4M) in Series B funding from CDF-Capital, Hua Ventures, Juchen Capital, Sharewin Investment, Shenzhen Capital Group, and others. The company designs high-precision, low-power battery management chips and high-efficiency, high-density power management chips. It targets smartphones, wearables, power tools, small home appliances, and other consumer electronics. It plans to launch a new generation of single-cell battery protection chips with voltage detection accuracy of ±10mV. Founded in 2017, it is based in Shenzhen, China.

CYT Semiconductor raised several hundred million yuan (CNY 100.0M is ~$14.7M) in Series A financing. CYT Semiconductor designs power ICs and system-in-package (SiP) micro-modules. Its primary product lines are power management ICs, LED linear driver ICs, micro-module voltage regulators, op amps, optocouplers, and a range of discrete diodes. Main target areas are high-reliability applications, industrial electronics, and consumer electronics. Funds will primarily be used to increase production capacity. Founded in 2003, it is based in Shenzhen, China.

Huatech Semiconductor raised nearly CNY 100.0M (~$14.7M) in a Series A+ round led by Sunic Capital, joined by New Value Capital, King Capital, and others. Huatech Semiconductor develops power ICs with product lines including battery management and protection chips, operational amplifiers, and power management chips. It targets applications such as small home appliances and consumer electronics. It plans to expand to automotive battery management chips. Funds will be used to expand production capacity and for R&D. Founded in 2014, it is based in Xi’an, China.

Chipsine received tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel funding that included Oriza Holdings. The startup develops motor drive chips. Founded in 2022, it is based in Suzhou, China.

Perfect Intelligent Power Semiconductor (PIP Semiconductor) raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in funding from Addor Capital. PIP Semiconductor offers power devices, including VDMOS, trench and SGT MOS, IGBT, gate driver IC, PWM IC, and high-frequency devices. It targets applications such as consumer electronics, smart home, wired and wireless communications, photovoltaic inverters, energy storage power supplies, and new energy vehicles. Based in Wuxi, China, it was founded in 2015.

Aerosemi Technology received new funding from Rising Investments. The company offers power devices including battery and charging management chips for EVs, LED drivers, power management units for mobile electronics, and high and low voltage DC/DC and AC/DC converters. Founded in 2011, it is based in Xi’an, China.

Einno Semiconductor received new funding from Xiaomi. Einno offers switching power supply controllers, SiP power modules, and smart power state chips that integrate MOSFET, driver, and current sensing functions. It targets data center and industrial markets. Founded in 2019, it is based in Hangzhou, China.

Hexin Electronic Technology received angel investment from China Investment New Energy. Hexin develops power semiconductors, with products including high-voltage VDMOS, low-voltage trench MOSFET, and SGT MOSFET. Target applications include photovoltaic transformers, DC motor drive, industrial power, consumer electronics, and EV charging. Based in Nanjing, China, it was founded in 2020.

Maizhiwei Semiconductor, also known as PDI Semiconductor, raised new funding from CVTE and Kiwi Instruments. The company offers power devices, including super junction, shielded gate, trench gate, and planar gate MOSFET, SiC MOSFET, and IGBTs. Based in Suzhou, China, it was founded in 2021.

Novus Semiconductors raised pre-Series A funding from Wedo Capital and others. Novus develops silicon carbide power devices. Its major product lines focus on cost-effective and high-reliability devices, including SiC Enhanced Junction Barrier Schottky diodes and SiC MOSFETs, as well as silicon-based diodes and fast recovery MOSFETs with a high junction temperature. It targets applications such as industrial control power supply, industrial motor, photovoltaic inverter, energy storage, charging pile, and new energy vehicles. Based in Chengdu, China, it was founded in 2019.

Trex Technologies, also known as Jufeng Semiconductor, raised strategic funding from Shangqi Capital and GAC Capital. The company makes gate driver chips, power management chips, IGBTs, intelligent power modules, and other power devices for white goods and industrial frequency conversion. The funding will be used to develop automotive-grade product lines. Based in Shenzhen, China, it was founded in 2019.

Siliconwaves Technology raised CNY 150.0M (~$22.1M) in Series A financing from China Prosperity Capital and ZHJ Group. Siliconwaves is designing a multi-standard, multi-mode baseband SoC that combines communications protocol processing and edge computing. The chip supports major standards in 5G and Wi-Fi in a single baseband processor with reconfigurable hardware modules. The company claims its architecture can provide software-like flexibility and hardware-like performance. Siliconwaves is planning an MPW run for its first chip by the end of 2022 and a production run in 2023. Target markets include Open RAN networks, enterprise and private networks, V2X, and industrial and IoT. Funds will be used for ASIC R&D, tape out, test platform equipment, and hiring. Based in Wuxi, China, it was founded in 2021.

MiSic Microelectronics raised nearly CNY 100.0M (~$14.7M) in financing led by Fosun Capital and VeriSilicon, joined by Dynamic Balance Capital, DY-Link, Nanjing Economic Development Fund, and others. MiSic specializes in millimeter wave (mmWave) chips, with products including 5G mmWave mobile communication chips, 45GHz mmWave Wi-Fi chips, mmWave satellite communication chips, and 77GHz mmWave radar chips. Funds will be used to accelerate mass production, update existing product lines, and expand 5G/6G communications, satellite communications, automotive radar, and roadside radar products. Based in Nanjing, China, it was founded in 2016.

Aolinke Electronics raised CNY 10.0M (~$1.5M) in angel funding. The startup provides data connection, positioning, and sensor chips for IoT devices. Funds will be used for mass production of the company’s multi-mode wireless SoC, which it says has the performance of LoRa while being compatible with Bluetooth and Zigbee, and R&D of an ultra-wideband (UWB) presence detection chip. Based in Zhuhai, China, it was founded in 2021.

InPlay Technologies received Series B funding from Ori-Mind Capital and others. InPlay designs low latency, low power wireless SoCs for IoT and industrial IoT applications. Its products include a family of Bluetooth beacons with a firmware-less design, an SoC using the company’s proprietary synchronous multi-node communication protocol with ultra-low latency and adaptive frequency hopping, and a chip that combines Bluetooth 5 with a software-defined radio (SDR) edge networking protocol. Founded in 2016, it is based in Shanghai, China.

QXP Technologies raised CNY 350.0M (~$51.5M) in pre-IPO financing from Shenzhen Toposcend Capital. QXP Tech designs and manufactures large-scale photonic integrated circuits using a Si/InP/SiO2 platform. Its products include an optical wavelength division multiplexer (WDM) and de-multiplexer device and assembly for data center networks, combo PON OLT transceiver and FTTH triple play CATV receiver module for access networks, and 50G optical transceiver for 5G networks. QXP Tech also develops its own equipment for test, packaging, and assembly. Additionally, it is developing detection and sensing products such as lidar and photonic gyroscope. Funds will be used to establish a mass production platform for optoelectronic integration. Based in Xi’an, China, it was founded in 2014.

AvicenaTech raised $25.0M in Series A funding from Samsung Catalyst Fund, Cerberus Capital Management, Clear Ventures, and Micron Ventures. Avicena develops microLED-based chip-to-chip interconnects it says eliminates the existing bottlenecks of copper links. The technology is based on arrays of GaN micro-emitters that leverage the microLED display ecosystem and can be integrated onto any high-performance CMOS IC. It says it can be used in HPC, AI/ML, and memory disaggregation, as well as next generation links in sensors, 5G wireless, and aerospace. “We will use the new funds to scale our team and build initial products for our growing family of partners and customers,” said Bardia Pezeshki, founder and CEO of Avicena. Founded in 2019, it is based in Mountain View, California, USA.

Smart Core Light raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel funding from Vertex Ventures. The startup makes optoelectronic integrated chips based on silicon nitride. It has developed an ultra-low loss silicon nitride waveguide IC and used it to create a silicon-based ultra-narrow linewidth integrated external cavity laser. It targets optical fiber sensing and lidar. The company has also developed a linear frequency modulation continuous wave (FMCW) lidar light source. Funds will be used for production line construction, production and marketing, and new product development. Founded in June 2022, it is based in Shenzhen, China.

CamGraPhIC raised £1.3M (~$1.5M) in equity funding from new and existing investors, including Wealth Club and Frontier IP Group. CamGraPhIC is developing graphene-based photonics technology for optical transceivers, including electro absorption modulators, photodetectors, and phase modulators. It says that current versions of the technology have indicated speeds of up to 100Gbps per lane and operation across multiple wavebands, while consuming less than 70% of the energy of equivalent technologies. It targets applications such as next generation 5G networks, 6G mmWave, high performance computing, and AI networks. Funds will be used to complete fabrication and testing of the demonstration devices, with customer testing expected to begin in September. Founded in 2018 as a spinoff from the University of Cambridge, it is based in Cambridge, UK.

EeroQ raised $7.3M in seed funding led by B Capital, with participation from V Capital, Calibrate Ventures, Alumni Ventures, Unbound Ventures, and Red Cedar Ventures. EeroQ is developing single-electron quantum computing hardware. Its technology traps individual electrons, which form the qubits, in microchannels fabricated on silicon wafers. The channels are filled with pools of superfluid helium, which protects each electron’s intrinsic quantum properties. The startup notes its qubits are still in an early stage compared to other technologies but says the technology could eventually provide long coherence times, high qubit connectivity, CMOS compatibility, fast gates, and the ability to fit millions of electrons on a single chip. Ultimately, EeroQ plans to build a large-scale quantum computer based on quantum magnetic (spin) state of the trapped electrons. “The small size of our devices allows us to be competitive with all other efforts in a dramatically more capital efficient way. Our system has far fewer moving parts than other types of QC designs, and that gives us a huge advantage in capital efficiency and time to scale,” said Nick Farina, EeroQ CEO. Based in Chicago, Illinois, USA, it was founded in 2017.

MiraMEMS Sensing Technology raised hundreds of millions of yuan (CNY 100.0M is ~$14.7M) in a Series D round led by Shangqi Capital, joined by Yuanhe Holdings, Zhidao Capital, and Yongxin Capital. MiraMEMS develops MEMS sensors, including accelerometers, gyroscopes, acoustic sensors, pressure sensors, and magnetic sensors. It currently targets consumer electronics, with plans to expand into automotive and industrial. Funds will be used for R&D and mass production of gyroscope and inertial measurement unit (IMU) module products. Founded in 2011, it is based in Suzhou, China.

Deruicore Technology drew nearly CNY 100.0M (~$14.7M) in Series A+ financing from Shaanxi Investment Capital, SDIC Technology, and Hongfu Assets. Deruicore Technology makes digital array radar core modules, data converter chips, transceiver/transmitting components, and signal processing platforms and modules. Its products can be used in applications such as radar countermeasures, measurement and control, and communications. Founded in 2015, it is based in Nanjing, China.

QLM Technology raised £12.0M (~$14.5M) in Series A funding led by oilfield services company Schlumberger, joined by existing investors Green Angel Syndicate, Enterprise100 Syndicate, Development Bank of Wales, Newable Ventures, and several private investors, as well as new investor Quantum Exponential. QLM has developed a lidar camera based on quantum Single Photon Avalanche Detector (SPAD) technology that can see and quantify greenhouse gas emissions. “The unique QLM lidar technology will allow operators to continuously monitor their facilities for methane emissions, and the technology is differentiated in its ability to detect even small emissions; to quantify emission rates accurately; to provide actionable information by locating the emission source precisely; and to fit upstream, midstream, and downstream facilities of all sizes,” said Kahina Abdeli-Galinier, emissions business director at Schlumberger. Schlumberger plans to incorporate QLM’s technology into its emissions solutions offering for the oil and gas industry. Based in Cardiff, UK, it was founded in 2017.

Somalytics received $1.9M in seed funding led by IP Group with support from WRF Capital. Somalytics is developing capacitive sensors made from a carbon nanotube paper composite. The startup says the sensor provides greater sensing range and sensitivity for eye, gesture, touch, and fluid monitoring. It targets applications such as eye tracking in AR/VR glasses, touchless human-machine interface in consumer electronics and automotive, wellness monitoring, industrial safety, IoT, and transportation. “This support will expedite our move to mass manufacturing as well as our continuing research and development efforts and team growth. We look forward to seeing what incredible new products will be created using our sensors for a wide variety of markets,” said Barbara Barclay, CEO of Somalytics. It expects to begin mass production before the end of the year. A spin out from the University of Washington founded in November 2021, it is based in Redmond, Washington, USA.

Finsiot drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series A funding from Ambrum Capital. Finsiot designs power management chips and energy harvesting modules for self-powered industrial IoT sensors. Its energy harvesting technology allows battery-free sensors to capture microwatt levels of energy from the environment through a variety of means, including low-light photovoltaic, temperature difference, RF, and vibration. Funds will be used for product launch and business expansion. Founded in 2019, it is based in Chengdu, China.

Lumotive received strategic funding led by Samsung Ventures, joined by Himax Technologies, Quan Funds, MetaVC Partners, and Bill Gates. Lumotive develops optical semiconductor devices for solid-state lidar sensors. The startup says its Light Control Metasurface (LCM) beam steering chips can steer light in any pattern across the field of view and enable software-defined lidar with advanced perception capabilities. It uses conventional CMOS manufacturing processes. “With the LCM technology, Lumotive is uniquely positioned to be able to address the broad range of requirements across consumer, automotive, and industrial sectors,” said Sam Heidari, CEO of Lumotive. Funds will be used to accelerate development and customer delivery. Based in Redmond, Washington, USA, it was founded in 2018.

Vertilite drew strategic funding from BYD Group, RoboSense, and Hesai Technology. Vertilite develops high-power, high-speed vertical-cavity surface-emitting lasers (VCSEL) and modules for applications such as 3D optical sensing in consumer electronics, automotive, industrial automation, and medical applications, as well as for optical communications. Based in Changzhou, China, it was founded in 2015.

C3Nano raised $35.0M in financing, made up of equity financing led by specialty chemicals company Element Solutions and debt from PIUS Limited. C3Nano makes silver nanowire-based transparent conductive inks and films for the touch sensor and display industry. The company says its ink can be solution coated onto films and substrates faster than ITO and is flexible, foldable, and stretchable. It claims its nanowires are capable of handling several thousand flexing cycles at greater than 20% strain, while providing good optical transparency, low haze, and low reflectivity. Funds will be used to expand its silver nanowire synthesis and production capacity and for commercialization efforts. Founded in 2010 as a spin out from Stanford University, it is based in Haywood, California, USA.

Jade Bird Display (JBD) received hundreds of millions of yuan (CNY 100.0M is ~$14.7M) in Series A3 financing led by Lightspeed China Partners and Eight Roads Ventures, joined by Cowin Venture. JBD designs and fabricates active matrix inorganic microLED display chips and panels with wavelengths ranging from UV to visible to IR. It specializes in ultra-compact microdisplays under 0.5 inches in diagonal, with applications including AR/VR headsets, heads-up displays, projectors, and 3D printing. It also offers control boards, custom panels, and development kits. Funds will be used for R&D, mass production, and market expansion. Based in Shanghai, China, it was founded in 2015.

Kubos Semiconductors drew over £0.5M (~$0.6M) in financing from Turquoise Venture Capital and other existing investors. Kubos develops technology for producing LEDs using cubic gallium nitride (GaN). The company says its technology enables the growth of single phase cubic GaN on large diameter cubic silicon carbide (3C-SiC) wafers grown on silicon, which can be used as a direct replacement for existing substrates in the LED fabrication process. Kubos says that benefits include reduced energy consumption, increased brightness, faster switching, and creation of true green microLEDs. “We are also excited about the prospect of exploiting our technology’s capabilities in new markets such as improving the efficiency of native red microLEDs for AR/VR and displays and providing high switching speed LEDs for visible light communications applications,” said Caroline O’Brien, CEO of Kubos. Founded in 2017, it is based in Cambridge, UK.

Sitan Technology raised new funding from China Resources Group and CICC Capital. The startup develops flexible transparent microLED displays, microLED modules, and a system for measuring microLED display characteristics. It currently operates a microLED pilot production line. Funds will be used for mass production. Founded in 2018, it is based in Shenzhen, China.

Nreal drew $15.0M in strategic financing from IICombined, which owns sunglasses brand Gentle Monster. Nreal sells AR sunglasses for the consumer market. It currently offers two models, with the primary aim to act as a portable movie screen for streaming video. It can show multiple virtual screens with additional content. To make them more lightweight, the sunglasses connect to smartphones that provide the power and content. Based in Beijing, China, it was founded in 2017.

GravityXR raised hundreds of millions of yuan (CNY 100.0M is ~$14.7M) in angel and seed funding led by Gaorong Capital and joined by 37 Interactive Entertainment, Glory Ventures, Lenovo Capital, Sequoia Capital China, Sino-Ocean Capital, and Wuyuan Capital. GravityXR specializes in chips for extended reality (XR) devices, which encompasses AR, VR, and MR. Its first generation of products is focused on reducing the rendering load and thus power consumption of VR headsets, reducing delay-induced dizziness effects through a low latency pipeline architecture, and digital correction of the display content. It expects the first generation of chips to begin mass production in 2024. Based in Ningbo, China, it was founded in 2021.

OptiArk Semiconductor received new funding from Tencent Investment. The startup develops optical waveguides, microprojection modules, and optical modules for AR glasses. Based in Shenzhen, China, it was founded in 2020.

StradVision raised $88.0M in closing its Series C round, which included strategic investment from automotive systems companies ZF and Aptiv. StradVision develops deep neural network software that allows vehicles to accurately detect and identify objects even in harsh weather conditions or poor lighting. The software supports a wide variety of hardware platforms and can also be customized and optimized for other hardware systems. It also provides an auto-labeling tool for training images. “This year has been crucial to expanding our North American and global business, and their funding will allow us to continue to accelerate in this direction,” said StradVision CEO Junhwan Kim. Based in Seoul, South Korea, it was founded in 2014.

DeepWay drew CNY 460.0M (~$67.2M) in Series A funding led by Qiming Venture Partners, joined by Lenovo Capital, Vlight Capital, CCB Trust, TH EDU Capital, Empowtech Capital, BOCOM International, and Huagai Capital. DeepWay develops and manufactures autonomous electric heavy commercial vehicles. Its model enables autonomous driving, currently with a safety driver, on high-speed freight logistics routes between designated hubs, at which point a human driver takes control. The company says designing its trucks from scratch enables better-integrated self-driving technology and reduces production costs. It expects on-road trials to begin at the end of the year, with mass production slated for the middle of 2023. Founded by Baidu and logistics service provider Lionbridge Financing Leasing in 2020, it is based in Beijing, China.

PhiGent Robotics raised CNY 100.0M (~$14.7M) in its second round of Series A financing from Shenzhen Capital Group and Jinsha River Innovation Investment. Phigent Robotics develops automotive sensors along with AI-based visual imaging and 3D visual radar technology for autonomous driving and ADAS. The startup recently launched a binocular vision radar product, which it says is combined with AI processing to simultaneously obtain basic 3D description information and high-level semantic information. It plans to deliver autonomous driving solutions covering active safety, high-speed piloting, and other functions later this year, with gradual expansion into higher levels of autonomy to follow, such as parking and point-to-point driving. Founded in 2021, it is based in Beijing, China.

Corage received tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel financing from Estar Capital, Amino Capital, and PKSHA SPARX Algorithm Fund. The startup is developing technology for autonomous commercial and long-distance logistics vehicles driving dedicated freight routes. Based in Shenzhen, China, it was founded in December 2021.

MaxSense Technology raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series A funding led by Leading Capital and Galaxy Capital. MaxSense develops autonomous driving technology for industrial vehicles used in short-distance and high-frequency production and logistics scenarios such as mines, ports, and fields. Based in Shanghai, China, it was founded in 2015.

Black Sesame Technologies completed a Series C+ round led by SummitView Capital, joined by Industrial Bank Group, GF Xinde Investment Management, Hina Group Fund, Northbeta Yinuo Capital, Xingding Capital, Ei Camino Capital, and Yangzijiang Fund. Black Sesame develops SoCs and software for L2-L3 ADAS and autonomous driving. Its chips integrate image signal processor and neural network accelerator. It also offers AI development software and image processing and perception algorithms. Funds will be used for chip development, commercialization, and mass production. The company said its C+ and C rounds combined raised over $500.0M. Based in Shanghai, China, it was founded in 2016.

GoFurther.AI, also known as Xingshen Intelligent Technology, closed a Series A+ financing round led by Xingxiang Capital and Ruizhu Capital, joined by Trinity Innovation Fund, Chasing Financial, and Grandway Capital. The company makes low-speed L4 unmanned vehicles for last-mile logistics in contained areas like campuses, business parks, scenic spots, medical facilities, and factories. The latest model can use different container modules for specific applications such as mobile kiosk and food delivery. It also offers self-driving kits for vehicles such as street sweepers, patrol vehicles, and unmanned buses. Funds will be used for R&D and market development. Based in Changsha, China, it was founded in 2017.

Maxieye closed a Series C1 funding round from Inno-Chip, Cedarlake Capital, and AI chip developer Axera. Maxieye focuses on developing ADAS and automated driving systems, as well as imaging and visual perception systems for both passenger and commercial vehicles. Its features include intelligent cruise control, automatic emergency braking, automatic parking, and L2-L3 driver assistance. Funds will be used for R&D and supply chain reserves. It expects mass production of passenger cars using its L2+ system later this year. Founded in 2016, it is based in Shanghai, China.

RevoAI received pre-seed funding. The startup develops software to verify and validate the safety of autonomous systems and robots, including test generation of autonomous driving functions. Founded in 2021, it is based in Karlsruhe, Germany.

Sensible 4 drew additional Series A funding from Metaplanet VC, NordicNinja VC, and family offices and employees. Sensible 4 is developing full-stack L4 self-driving software for last-mile applications that work in all weather, including difficult conditions such as snow, fog, heavy rain, and sandstorms, even in the absence of well-marked lanes. The company recently released its first autonomous driving platform, which targets last-mile autonomous industrial transport, delivery vehicles, and shuttle buses, and expects to see OEMs incorporate it in vehicles entering production in 2024. Founded in 2017 as a spin-off from Aalto University, it is based in Espoo, Finland and has raised €16.7M (~$16.6M) to date.

Chiplego Technology raised nearly CNY 300.0M (~$44.1M) in angel and strategic funding rounds, which included Matrix Partners China and Summitview Capital. Chiplego is using chiplets to design high-performance chips for smart vehicles. The startup has developed its own high-bandwidth, low-latency interconnect technology and what it calls an embedded HPC architecture. Based in Shanghai, China, it was founded in November 2021.

Tongyu Automotive raised nearly CNY 200.0M (~$29.4M) in a Series A+ round led by Xiaomi and joined by Cowin Capital, Jinbang Capital, Orient Assets Management, and Summitview Capital. The company develops electro-hydraulic braking systems (EHB) and automatic emergency braking systems (AEB). Its AEB integrates millimeter wave radar, camera, and algorithms to enable early warning, pre-braking, and emergency braking. Based in Shanghai, China, it was founded in 2016.

LNGIN Technology raised nearly CNY 100.0M (~$14.7M) in a Series B round from video service provider Arcvideo Tech. LNGIN Technology uses nano-optical imaging and microstructure light field reconstruction technology to present 3D holograms. Its Aerial Holo Intelligent Display is targeted for in-vehicle smart cockpits. Geely incorporated it into a model last year and intends to bring it to more models in the future. Funds will be used for R&D, including optimizing its visual algorithm and AI. Founded in 2017, it is based in Hangzhou, China.

Global Crown Technology raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in strategic financing from SAIC Motor’s Shangqi Capital and China Automotive Chip Alliance. The company develops model-based systems engineering, simulation, and digital twin software for automotive, aerospace, and other transportation such as railways and shipbuilding. Founded in 2003, it is based in Beijing, China.

Passionchip, also known as Paishengxin Technology, raised tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel financing. The startup designs automotive electronic power supply chips. It expects its first product to begin sampling later this year. It also plans to expand to automotive LED control. Funds will be used for R&D and hiring. Based in Suzhou, China, it was founded in 2021.

Silicon Integration received tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel funding from Lenovo Capital. The startup is developing automotive-grade MCUs, MPUs, and domain controller SoCs based on RISC-V. It is beginning with a 32-bit MCU that is expected to enter mass production next year. Areas the startup is focusing on include motor control, chassis control, instrumentation, in-vehicle network, and smart cockpit. Based in Suzhou, China, it was founded in April 2022.

Atech Automotive Electronics received new funding from Fosun Capital and others. Atech develops automotive electronics, including modules for body controller, domain controller, Ethernet gateway, and digital cockpit. Founded in 2002, it is based in Wuhu, China.

BOS Semiconductors received a strategic investment from Hyundai Motor Group. BOS Semiconductors is a fabless company that designs automotive SoCs. It is working on autonomous driving chips, gateway SoCs, and a high-performance chip it calls a Mega-MCU. “We expect BOS Semiconductor to become one of our strategic partners, contributing to the competitive semiconductor technology of the Group’s future mobility,” said Youngcho Chi, president of the Innovation Division of Hyundai Motor Group. Founded in 2022, it is based in Seongnam, South Korea.

GiantOhm, also known as Dingsheng Microelectronics, received pre-Series A funding from Xiaomi. GiantOhm manufactures resistors with a focus on the automotive market. Its products include thick film resistors, alloy resistors, and plastic package resistors. Founded in 2021, it is based in Hangzhou, China.

Wenmi Xinguang Technology raised angel financing from Tunlan Investment. The startup makes components for automotive lidar systems, including high thermal stability laser chips, high saturation power 1550nm InP laser chips, multi-segment DBR laser chips with high frequency modulation linearity and low phase noise, and intermediate frequency FMCW laser chips. While its primary focus is automotive, it says its components also have applications in consumer electronics, quantum computing, and medical. The startup also offers custom optical chip development. Founded in 2021, it is based in Hangzhou, China.

Jayson New Energy Materials raised over CNY 1000.0M (~$147.3M) in Series B+ funding led by Loyal Valley Innovation Capital and joined by Panorama Capital, Gaolin Capital, Shanghai International Group, Estar Capital, Long Capital, CPE Fund, and others. The company mines, smelts, processes, and recycles materials key to lithium-ion batteries, including copper, cobalt, nickel, lithium, and manganese. It also manufactures cathode precursors and cathode materials. Founded in 2011, it is based in Shanghai, China.

Nexeon raised $90.0M in the second close of its Series D funding from Ingevity Corporation, GLY Mobility Fund, Daishin Private Equity, and Shinhan Investments. Nexeon develops silicon-based anode materials for lithium-ion batteries in the EV, consumer electronics, wearables, and home power storage markets. The company says its anodes help improve charge speed, energy density, and $/kWh cost. Funds will be used for expansion of its manufacturing capabilities, with the aim of producing tens of thousands of metric tonnes annually of its anode materials. “This oversubscribed funding round and other investments provide us with all the resources we need to execute on the manufacturing strategy for our game changing battery technology. We have already doubled in size this year as we have started to scale up,” said Scott Brown, Nexeon CEO. Founded in 2006 based on research from Imperial College London, it is based in Abingdon, UK.

Ruicycle Environmental Protection Technology, also known as Hengchuang Ruineng, raised over CNY 300.0M (~$44.4M) in Series B funding from Legend Capital, China Guangfa Bank, Hua Ventures, Hanhui Investment Management, and others. Ruicycle recycles and reuses lithium-ion batteries in a variety of ways, including cascade utilization (where batteries no longer suited to their original purpose are used in things such as stationary storage), material regeneration, and electrode material recycling. Funds will be used in improving cascade products, construction of a new recycling processing facility, and expanding wet recycling technology. Based in Shenzhen, China, it was founded in 2017.

Elestor received a €30.0M (~$30.5M) investment led by energy company Equinor and Invest-NL, joined by tank storage company Royal Vopak, Somerset Capital Partners, and existing shareholders EIT InnoEnergy and Enfuro Ventures. Elestor develops hydrogen bromine flow batteries, a form of long-duration energy storage. The company selected hydrogen and bromine for their high availability and low cost, along with high power and energy density. Once the flow battery is constructed, it does not lose storage capacity over its lifetime. Additionally, the battery generates hydrogen during the charging process. It also says the heat generated during the charge and discharge process can easily be captured for other purposes by incorporating a heat exchanger in the electrolyte circuit. Funds will be used for commercialization and construction of an up to a GW scale production facility. Founded in 2014, it is based in Arnhem, the Netherlands.

Jinsheng New Energy raised several hundred million yuan (CNY 100.0M is ~$14.7M) in funding led by Fosun RZ Capital and joined by GAC Capital, CICC Capital, and National Venture Capital. Jinsheng New Energy recycles lithium-ion batteries and supplies battery-grade cobalt sulfate, nickel sulfate, manganese sulfate, lithium carbonate, and other lithium battery materials. Funds will be used for capacity expansion, R&D, and hiring. Founded in 2010, it is based in Gaoyao, China.

Exponent Energy raised $13.0M in Series A funding led by Lightspeed Venture Partners, joined by existing investors YourNest VC, 3one4 Capital, and AdvantEdge VC, alongside individual investor Pawan Munjal. Exponent Energy developed a battery pack and charger combo system it says can provide 15-minute rapid charging of lithium-ion batteries for electric vehicles while providing a 3000-cycle lifetime. It targets OEMs building commercial EVs for fleets. Funds will be used to expand its charging network to 100 location points in each city the company expands into, starting with Bengaluru. Founded in 2020, it is based in Bengaluru, India.

Zitara closed a $12.0M Series A round led by Energy Impact Partners, joined by existing investors NextView Ventures, Collaborative Fund, and Trucks VC. Zitara develops cloud and embedded battery modeling and management software for optimizing safety, reliability, and lifetime. It primarily targets operators and manufacturers with large battery deployments and works across a range of battery applications, including stationary storage, micromobility, electric vehicles, consumer electronics, and satellites. Founded in 2019, it is based in San Francisco, California, USA.

Guorun Energy Storage drew over CNY 50.0M (~$7.3M) in angel financing from Innoangel Fund, Tsinghua Capital, TusStar, and Unifortune. The company manufactures all-vanadium redox flow energy storage batteries and perfluorinated ion exchange membranes, which are used in the batteries as well as in fuel cells and hydrogen production by water electrolysis. Flow batteries are suitable for long-term, stationary energy storage. The company’s flow battery is based on the redox of the metal vanadium and uses a sulfuric acid electrolyte of vanadium ions with different valences. Funds will be used for the construction of an automatic production line for its vanadium flow batteries, the expansion of the perfluorinated ion membrane production line, and hiring. Based in Shuozhou, China, it was founded in 2020.

Li Industries raised $7.0M in Series A funding led by Khosla Ventures and joined by investors including Shell Ventures and Xerox Ventures. Li Industries offers a recycling process it says generates high purity recycled battery materials that can be directly redeployed into new lithium-ion batteries. The company added that its process minimizes CO2 and SOx emissions. Funding will be used to build a commercial battery sorting and recycling facility that will open in 2023. Founded in 2017, it is based in Blacksburg, Virginia, USA.

Anaphite drew £4.1M (~$4.9M) in seed funding led by Elbow Beach Capital and joined by Wealth Club, Blue Wire Capital, Oxford Investment Opportunity Network, Zero Carbon Capital, Silicon Roundabout Ventures, and Deeptech Labs. Anaphite is creating a self-assembly technology to develop graphene-enhanced cathodes and novel coating methods for EV lithium-ion batteries. The startup says its technology can reduce battery manufacturing costs by over 10% while improving battery capacity and charge rates with a scalable process that fits directly into existing cell production lines. Funds will be used to expand its development efforts, open license negotiations with a material supplier or cell manufacturer, and build a materials demonstration reactor with 100kg/day production volume. Anaphite aims for its technology to be used in commercial EV production by 2028. Based in Bristol, UK, it was founded in 2018.

Circue Energy drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series A funding from Y&R Capital, Bluerun Ventures, China Capital Management, and others. The startup is building intelligent battery infrastructure for charging stations, energy storage, and battery recycling and reuse. It combines AI and sensors to determine internal potential, temperature, pressure, and other signals of the battery in real time. The company claims it can provide long-term accurate prediction of the state of any battery type more effectively than traditional battery management systems. Founded in 2019, it is based in Beijing, China.

EneRol Nanotechnologies drew tens of millions of yuan (CNY 10.0M is ~$1.5M) in Series A funding. EneRol makes nanofiber separators for supercapacitors and is expanding to separators for other types of energy storage. Funds will be used for expansion of the supercapacitor battery separator production line, as well as the development of separators for sodium-ion batteries and solid-state batteries. The company said it is currently conducting sodium-ion battery separator tests with a number of battery companies and expects to introduce one within the next year. Based in Ningbo, China, it was founded in 2016.

Janaenergy Technology received tens of millions of yuan (CNY 10.0M is ~$1.5M) in angel financing from Shunwei Capital. Janaenergy manufactures materials for sodium-ion batteries. Its products include polyanion cathode materials and biomass hard carbon anode material. The company says polyanion cathodes have advantages in raw material resource utilization, processing, safety, and cycle life. Funds will be used for pilot line construction, plant construction, and hiring. Founded in 2022, it is based in Shenzhen, China.

Oorja raised seed funding from Capital A. Oorja offers software to aid in battery pack design. Targeting electric vehicle OEMs, the software uses hybrid simulation to predict battery pack life with minimal experimental data, as well as prediction of cell temperature within a battery pack for various drive cycles to guide pack layout and cooling strategy. Founded in 2022, it is based in Bengaluru, India.

Selected startups that raised funding in August 2022.

Winreal Investment made the first close of a fund focused on 5G-related companies and technologies, including connected vehicles. The first close raised CNY 1300.0M (~$189.9M). It expects the final close to happen before the end of the year and bring the fund to no more than CNY 2000.0M (~$292.1M).

TV and consumer electronics manufacturer TCL Group will set up a CNY 1000.0M (~$147.1M) fund under a subsidiary to invest in display technology and materials, photovoltaic and semiconductor materials, semiconductor chips, and related display technologies.

2xN launched a $120.0M fund to invest in quantum computing startups. The firm invests from $3M to $5M in pre-seed to Series A rounds. It is particularly looking to invest in quantum startups in the sectors of mobility, collaboration, marketplace, and edtech. The fund plans to back up to 25 startups in Europe and the U.S.

Startups using AI in products and services didn’t raise the mega-rounds seen in previous months. Two of the larger rounds in August went to companies offering platforms to aid in AI application development and distribution.

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Who’s doing what in next-gen chips, and when they expect to do it.

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Who’s doing what in next-gen chips, and when they expect to do it.

100% inspection, more data, and traceability will reduce assembly defects plaguing automotive customer returns.

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Manufacturability reaches sufficient level to compete with flip-chip BGA and 2.5D.

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