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Startup Funding: February 2022 – SemiEngineering

Automotive startups see massive funding; 95 companies raise over $3B.
Mega-rounds dominated venture funding in February, with ten companies seeing investment of $100 million or more, five of which exceeded $200 million. Automotive was the big winner, with seven of the ten companies involved in either developing ADAS and autonomous driving, building electric vehicles, or making components to go in cars. The largest round of the month falls into that last category, at nearly $500 million for a producer of power semiconductor devices for automotive and other applications. Altogether, companies somehow involved in the automotive market received over $2 billion, around two-thirds of the month’s disclosed total. This does not include the $1.35 billion raised by GM’s Cruise self-driving unit.
Another standout area last month was AI hardware. What’s notable is how each of the six companies profiled have a unique take on what architecture makes for a good AI system, from photonics and in-fiber computing to analog. Plus, design services, flexible electronics, inspection equipment, DRAM, and a new Chinese EDA company are included in this look at 95 companies that collectively raised over $3 billion in February 2022.
Design services firm Semifive raised $109.0M in Series B funding from BonAngels, Game Changer, Korea Investment Partners, LB Investment, Mirae Asset Venture Investment, and Pavilion Capital. The startup offers platform-based custom design services for AI, edge, AIoT, and data acceleration SoCs using Samsung Foundry, with plans to expand to HPC and automotive. Using templates and a library of IP, it aims to reduce the cost and time required to create custom silicon. Funding will be used for R&D, hiring, and developing IP. “With the strong support from our investors, we are accelerating our strategy in the U.S., which is a pivotal base for business expansion and added capabilities. Anticipating strong growth, we are scaling our sales, customer, and technical support organizations,” said Brandon Cho, CEO and founder of Semifive. Founded in 2019, it is based in Seongnam, South Korea, and has raised $147M to date.
Smart Logic Technology raised $100.0M in Series C funding from CICC, Grand Flight Investment, and TFTR Investment. Smart Logic has developed its MaPU algebraic processor architecture, which it says offers the programmability and versatility of CPU, the flexibility of FPGA, and the efficiency of ASIC, supplemented by a parallel data supply structure. The company has used it in several chips, including processors for mobile communications, deep neural networks, and multimedia. Founded in 2016 based on research from the Chinese Academy of Sciences, Smart Logic Technology is based in Beijing, China.
Clounix Technology raised over CNY 400.0M (~$63.3M) in a pre-Series A+ round led by Oceanpine Capital, joined by Chaos Investment, Rencent Capital, China Merchants Securities, Share Capital, Huagai Capital, and existing investors Qianhai Fund of Funds, Ondine Capital, Sunic Capital, and GoldenSand Capital. Clounix develops customizable network chips, including high-performance programmable Ethernet switching chips, and cloud networking software. Funding will be used for R&D, product commercialization, and hiring. Based in Hangzhou, China, it was founded in 2020.
Lisuan Technology drew “hundreds of millions” of yuan (CNY 100.0M is ~$15.8M) in angel funding from Delta Capital, Jiangmen Ventures, Zoo Capital, Oceanpine Capital, and Sharelink Capital. Lisuan Tech is developing a GPU for high-performance graphics rendering based on its own Pangu architecture. It also uses AI methods to improve GPU functions and PPA. Lisuan Tech plans its first chip, based on a 6nm node, to be available next year and eventually hopes to target a variety of end products including cloud, edge, and client devices. Based in Nanjing, China, it was founded in 2021.
Menta received a €7.5 (~$8.5M) loan from the European Investment Bank to support its growth and development. Menta provides standard-cells embedded FPGA IP for SoC, ASIC, or ASSP designs. Available as soft RTL or hard GDSII IP, the eFPGA IPs support a wide range of foundry processes. A toolchain is supplied to generate the bitstream from RTL, including synthesis. Founded in 2007, it is based in Sophia-Antipolis, France.
Gongmo Semiconductor, also known as Common Mode Semiconductor, raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in a Series pre-A round from Oriza Holdings, Summitview Capital, and others. The startup develops analog chips with products currently including ADCs/DACs, amplifiers, RF ICs, and power supplies. Founded in 2021, it is based in Suzhou, China.
Ozark Integrated Circuits received a $0.2M grant from the U.S. Department of Energy to develop a high-temperature health-monitoring instrument that measures the state of molten salts used in molten-salt cooled nuclear reactors. Ozark IC will manufacture a non-reactive probe using silicon carbide (SiC) and gold materials, which has a proven temperature cycling durability from 500°C to 800°C (930⁰F to 1500⁰F). It will also manufacture the analog front-end for the measurement instrument. The company offers boards, ICs, sensors, packaging, and consulting services focused on extreme environments. Founded in 2011, it is based in Fayetteville, Arkansas, USA.
Ayar Labs received a strategic investment from Hewlett Packard Pathfinder. The company develops optical based interconnect chiplets and multi-wavelength lasers to replace traditional electrical based I/O. As part of the agreement, Hewlett Packard Enterprise and Ayar Labs will partner on photonics research and commercial development, particularly high speed, high density, low power optical-based interconnects to target future generations of the HPE Slingshot high performance Ethernet fabric designed for HPC and AI solutions. Based in Emeryville, California, USA, it was founded in 2015.
Micro Innovation Integrated Circuit, also known as Muchuang Integrated Circuit Design, closed a Series A+ round that included Grit Ventures and THG Ventures. The company offers two primary product lines, reconfigurable cryptographic security chips and intelligent network controller chips. Its security chips support a range of algorithms and cover applications including data center, network edge, and IoT devices. Based in Wuxi, China, it was founded in 2018 based on research from Tsinghua University.
Celestial AI drew $56.0M in Series A investment led by Koch Disruptive Technologies with participation from Temasek’s Xora Innovation fund, The Engine, Tyche Partners, Merck’s M-Ventures, imec.xpand, and Fitz Gate Ventures. Celestial AI has developed a photonic technology that enables optically addressable memory and compute both within chip and between chips. It says that its architecture allows for low-complexity system software for efficient mapping of data and compute without the need for complex optimizations, even in multi-chip exascale systems. The startup plans to build AI accelerator products using the technology. “We are addressing the problem of our time in computing – efficient data movement,” said Celestial AI founder and CEO David Lazovsky. “Celestial AI’s hybrid photonic-electronic platform allows us to leverage the complementary strengths of electronics for high-performance, high-precision computing and photonics for high-speed, low-power, high-bandwidth data movement. The result is transformational performance advantages relative to electronic-only systems.” Funds will be used for hiring, product development, and supplier engagements. Founded in 2020, it is based in Santa Clara, California, USA.
Rain Neuromorphics raised $25.0M in Series A financing led by Prosperity 7 Ventures and joined by existing investors Buckley Ventures, Gaingels, Loup Ventures, Metaplanet, Pioneer Fund, and a number of individual investors including Sam Altman, Jeff Rothschild, Oliver Cameron, Amar Shah, and Scott Gray. Rain has developed and taped out a working prototype of its Neuromorphic Processing Unit (NPU), an end-to-end analog, trainable AI circuit that combines a new algorithm for analog AI training and inference with an analog chip architecture. The hardware architecture of the NPU utilizes memristors to combine memory and compute as artificial synapses, overlayed on top of the neuron circuits in a sparse pattern replicating the sparse connectivity of the brain, which the company says allows tens of millions of artificial neurons to be interconnected on a single chip. “At Rain, we are building an entirely new kind of microchip — a fully analog neural network where software and hardware merge into one elegant, massively parallel information processor. This is a bold project that combines many disciplines: circuit theory, physics, pure mathematics, neural network architectures, materials science, and even neuroscience,” said Gordon Wilson, co-founder and CEO of Rain. Founded in 2017, it is based in Redwood City, California, USA.
CIX raised “tens of millions of dollars” in angel and angel+ funding from Lenovo Venture Capital, Qiming Venture Partners, Sky9 Capital, and others. CIX is developing a general intelligence chip compatible with the ARM instruction set for high-end tablet computers, notebooks, desktops, and AR/VR. Funds will be used for R&D and market expansion. Based in Shanghai, China, it was founded in 2021.
EdgeCortix raised over $8.0M in a Series A round led by Vajra Direct with participation from Monozukuri Ventures, FuturePlay, and others. EdgeCortix provides deep neural network accelerator IP for edge inference. Its first line of IP is comprised of five single-core configurations ranging from 1.8 to 54 INT8 TOP/s, while using less than 0.6 Watts in the smallest case and less than 8 Watts in the largest case. It also offers an SoC utilizing the processor. Additionally, the startup has developed an AI hardware and software co-exploration engine to design edge AI chips alongside optimizing neural network models to achieve throughput, latency, power, and size targets. Based in Singapore and Tokyo, Japan, it was founded in 2019.
CogniFiber raised $6.0M in Series A funding led by Chartered Group. CogniFiber is developing photonic solutions for AI hardware using in-fiber computing technology. The startup says that its in-fiber computing allows controllable, programmable interactions between input data channels such that the output light transmits the desired mathematical function, covering both linear and non-linear operations and resulting in an “FPGA-like” photonic device that can implement many interchangeable functions by reprogramming control parameters. It also projects that the technology will reach over 100 ExaOPS with an efficiency over 1,000 TOPS/Watt by 2026. CogniFiber’s first product, planned for late 2023, is a hardware system that implements a trainable photonic auto-encoder neural network for applications including industrial IoT and cybersecurity. Founded in 2018, it is based in Rosh Haayin, Israel.
Utarn, also known as Youzhi Chuangxin, raised “tens of millions” of yuan (CNY 10.0M is ~$1.6M) in angel financing. The company is developing a brain-inspired chip along with brain-like algorithms using spiking neural networks and an open-source causal learning framework. Funds will be used for hiring, tape out, and commercialization. Founded in 2021, it is based in Shenzhen, China.
Unim Innovation Technology raised over CNY 100.0M (~$15.8M) in angel funding. Unim develops flash memory chips, including SLC NAND and MLC NAND for consumer electronics, IoT, surveillance, and other applications. Funds will be used for R&D, equipment, and taping out two key products. Based in Wuxi, China, it was founded in 2021.
TaoCloud drew CNY 100.0M (~$15.8M) in Series C financing from Kaitai Capital, LH Ventures, and others. TaoCloud provides software-defined storage systems, including a distributed unified storage system, security-focused system, and distributed all-flash storage system. Founded in 2015, it is based in Beijing, China.
ChangXin Memory Technologies (CXMT) received an investment from Alibaba, YF Capital, Sunshine Insurance Group, TCL Capital, PICC, Qianhai Fund of Funds, Tencent Investment, Greater Bay Area Homeland Investments, Shenzhen Investment Holdings, Walden International, Jianxin Capital, and China Post, and others. CXMT designs and manufactures DRAM. The company currently offers DDR4, LPDDR4X, and DDR4 modules. Its first 12-inch fab is produced 60,000 wafers per month in 2021, and it is targeting 120,000 wpm for 2022, eventually increasing to 300,000 wpm. Founded in 2016, it is based in Hefei, China.
Phlexing raised over CNY 100.0M (~$15.8M) in Series B funding led by China Fortune-Tech Capital and joined by Hua Capital. Phlexing provides EDA tools for physical design signoff and verification, including parasitic extraction, power integrity, electromigration, IR drop, reliability, and chip-package-board system power and thermal coupling analysis. Founded in 2018, it is based in Hangzhou, China.
Cenos drew €1.0 (~$1.1M) in seed funding led by Startup Wise Guys and Capitalia, joined by Baltic Business Angels and several individual investors. Cenos develops engineering simulation software. The startup currently offers products for microstrip antenna design and placement as well as induction heating. It plans to release two more applications this year. “Engineering simulation software today is still stuck in version 1.0. It’s big, bloated, and surprisingly bad at guiding engineers to solutions rapidly. Cenos addresses this challenge with a platform that provides advanced open source engineering software algorithms in vertical-focused apps with a usable interface that doesn’t take 10 years to learn,” said Mihails Scepanskis, CEO and founder of Cenos. Based in Riga, Latvia, it was founded in 2017.
Instrumental closed a $50.0M Series C round led by BAM Elevate, with Canaan, Root Ventures, and Eclipse Ventures as return investors. Instrumental provides a cloud-based platform for optimization of electronics manufacturing, using AI to detect defects, identify root causes, and provide insights. It supports both consumer electronics and mission-critical industrial electronics. “When I was working as an engineer, I was surprised by the amount of waste and inefficiencies that electronics brands are accustomed to as the cost of doing business,” said Anna-Katrina Shedletsky, CEO and founder of Instrumental. “We believe in a different future — where software leverages data about every individual unit built to make rapid changes to process and design, eliminating waste.” Funding will be used for R&D on new products and hiring. Founded in 2015, it is based in Palo Alto, California, USA.
Lumi Laser drew “hundreds of millions” of yuan (CNY 100.0M is ~$15.8M) in a Series C round from GP Capital, Legend Capital, and others. Lumi Laser produces precision laser equipment including laser slotting, laser cutting, and laser debonding machines for semiconductor manufacturing, packaging, and testing. It also offers a centrifugal cleaning machine. Founded in 2012, it is based in Suzhou, China.
3D printing startup Scrona raised $9.6M in Series A and grant funding. The $6.7M Series A was led by AM Ventures, joined by TRUMPF Venture, Verve Ventures, and Manz GmbH Management Consulting and Investment, while the $2.9M grant was by Swiss Secretariat for Education, Research and Innovation. Scrona has developed a multi-nozzle electrostatic printhead for mass manufacturing with printing resolution in the sub-micrometer range. Suitable for semiconductor and display manufacturing, the startup’s MEMS printhead technology can handle printing on any material and “has the ability to reduce manufacturing steps 10-fold, while also significantly reducing material, energy and water usage,” said Patrick Galliker, co-founder and CEO of Scrona. Funding will be used to accelerate industrialization and commercialization, as well as developing new applications for industries including semiconductor manufacturing, high-end displays, electronics, and PCB. Founded in 2014 as a spin out from ETH Zurich, it is based in Zurich, Switzerland.
Acroview Technology raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in funding from Shenzhen High-tech Investment. Acroview develops automated programming systems for a wide range of programmable devices, including MCU, EPROM, EEPROM, NAND flash, NOR flash, eMMC, CPLD, CMOS PLD, FPGA, and anti-fuse. Based in Shenzhen, China, it was founded in 2013.
Cowin Laser Technology raised “tens of millions” of yuan (CNY 10.0M is ~1.6M) in a Series A+ round from TCL Capital and others. Cowin offers laser repair, laser cutting, laser direct imaging, and laser stripping equipment for display panels and LEDs, as well as for PCB and semiconductor applications such as laser debonding and wafer dicing. Based in Suzhou, China, it was founded in 2018.
Jingji Semiconductor Technology, also referred to as Jingji Microelectronics, drew CNY 300.0M (~$47.5M) in strategic investment from Spinnotec, Haiwang Capital, and others. The company provides brightfield wafer defect inspection equipment. Founded in 2021, it is based in Shanghai, China.
Zhongan Semiconductor raised CNY 200.0M (~$31.6M) in a Series A round from Oriza Holdings, China Fortune-Tech Capital, Sequoia Capital China, Walden International, and others. The company develops equipment to inspect semiconductor wafer flatness and three-dimensional topography for 200mm and 300mm wafers. Founded in 2020, it is based in Nanjing, China.
Sincevision Technology, also known as SSZN, raised “several hundred million yuan” (CNY 100.0 is ~$15.8M) in Series B+ funding led by Matrix Partners and GL Ventures, joined by Industry Capital. Sincevision offers 3D laser profile measurement equipment for inspection of circuit boards, chip pins, smartphone assembly, lithium batteries, and other applications. Its product lines include line lasers, point lasers, and point spectrum. The funding will be used for R&D, hiring, and the advancement of product lines. Based in Shenzhen, China, it was founded in 2014.
Dongsheng Intelligent Technology raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in Series A+ funding from investors including Oriza Holdings, Green River Capital, and Sharetek. Dongsheng provides AI-powered visual inspection software that combines 2D and 3D cameras with sound sensors for industrial applications including PCB, semiconductor, consumer electronics assembly, displays, and solar panels. Founded in 2019, it is based in Suzhou, China.
Chipinfos Electronic Technology, also known as Xinxinan Electronic Technology, raised “tens of millions” of yuan (CNY 10.0M is ~$1.6M) in angel funding from Walden International. The company provides chip testing services. Based in Suzhou, China, it was founded in 2017.
Weichong Semiconductor, also known as Micro Chong Semiconductor, raised “tens of millions” of yuan (CNY 10.0M is ~$1.6M) in Series pre-A funding from Yunqi Partners. The startup is developing semiconductor test equipment. Based in Beijing, China, it was founded in 2021.
Akhan Semiconductor raised $20.0M in venture funding for its diamond nanocarbon material fabrication technologies. Akhan develops several diamond nanocarbon-based products, including a diamond glass for smartphones, thin-film diamond for protecting optical components, and diamond for wide bandgap power electronics. It plans to use the funding to bring its diamond glass to market. Based in Gurnee, Illinois, USA, it was founded in 2013.
Goetsu Semiconductor raised “hundreds of millions” of yuan (CNY 100.0M is ~$15.8M) in a Series A+ round from Fortune Capital, Wuxi New District Investment Group, and others. Goetsu Semiconductor produces gallium nitride (GaN) self-supporting substrates based on its own seed crystal and crystal processing technologies. It also offers GaN-On-GaN power chips and RF chips. Founded in 2019, it is based in Wuxi, China.
Hongzhiwei Technology raised “hundreds of millions” of yuan (CNY 100.0M is ~$15.8M) in venture financing that included PHCapital and Shenzhen Guozhong Venture Capital Management. Hongzhiwei offers material design and process simulation software for semiconductor and electronics materials, lithium-ion batteries, metal alloys, and other applications. It develops much of its software in cooperation with several Chinese universities and research institutes. Based in Shanghai, China, it was founded in 2014.
Morion NanoTech raised over CNY 100.0M (~$15.8M) in a Series B round from Chendao Capital and Yuexiu Industrial Investment Fund. Morion produces graphene materials for electronics and new energy applications, including thermal management products and micro- and nano-cavity superconducting films. It is planning to expand to aerospace and biomedical applications. The funds will be used for production line construction, product development, and business expansion. Based in Dongguan, China, it was founded in 2015.
Bonotec Adhesives, also known as Benno Electronic Materials, raised “tens of millions” of yuan (CNY 10.0M is ~$1.6M) in Series B+ funding from Xinchao Group and Sumin Investment. Bonotec Adhesives offers electronic-grade adhesives for electronic assembly and semiconductor packaging, particularly optoelectronics, high-power LEDs and ICs. Founded in 2009, it is based in Shanghai, China.
Bright Semiconductor Technology, also known as Bolante Semiconductor Technology, raised a strategic investment. The company manufactures sapphire wafers, patterned sapphire substrates, and conductive and semi-insulating silicon carbide substrates. It plans to set up a subsidiary and establish a GaN/SiC R&D center and MEMS packaging line. Founded in 2012, it is based in Jinhua, China.
Jinray Electronic Technology received Series A funding from CDF Capital. Jinray manufactures 8-inch and 12-inch silicon, silicon-based gallium nitride (GaN), and silicon carbide (SiC) epitaxial wafers. It has a planned capacity of 300,00 8-inch wafers per month and 100,000 12-inch wpm. Lishui, China, it was founded in 2020.
Niron Magnetics received a strategic investment from Western Digital Capital for its high-performance permanent magnet based on iron nitride and free of rare earths. High-performance magnets have applications in hard drives as well as EV drive trains, consumer appliances, audio speakers, and industrial and commercial spaces such as wind turbines, elevators, and HVAC. Niron says its magnets are less expensive and have inherently higher magnetization than rare earth alternatives. “As demand in the data storage market continues to grow, innovation is essential to find an alternative for the magnets used in the actuators of disk read- and-write heads and spindle drive motors while avoiding environmentally damaging rare earth mining and mitigating the risk of supply disruptions,” said Andy Blackburn, CEO of Niron Magnetics. Founded in 2015 as a spinoff from the University of Minnesota, it is based in Minneapolis, Minnesota, USA.
Innoscience Technology drew nearly CNY 3000.0M (~$473.6M) in Series D funding. Innoscience is an IDM focused on GaN power devices for a range of consumer, industrial, and automotive applications, with voltages from 30V to 650V. The company currently has two 8-inch gallium nitride-on-silicon (GaN-on-Si) fabs with a capacity of 10,000 wafers per month, which it plans to ramp to 14,000 wpm later this year and 70,000 wpm by 2025. It recently released a GaN HEMT for mobile phones. Founded in 2015, it is based in Zhuhai, China.
Guangxin Microelectronics, also known as GX Micron, raised CNY 150.0M (~$23.7M) in strategic financing from Minde Electronics. The startup is establishing a manufacturing facility for power devices. Eventually, it plans to construct a fab for power semiconductor wafers. Founded in Lishui, China, it was founded in 2021.
Huayi Microelectronics received “hundreds of millions of yuan” (CNY 100.0M is ~$15.8M) in Series A financing. The company designs, assembles, and tests power devices, primarily MOSFET and IGBT. Huayi says it has an annual production capacity of 4.8 billion pieces. Founded in 2012, it is based in Xi’an, China.
GL Microelectronics Technology (GLW, also known as Zhongke Gree Micro Technology) raised over CNY 100.0M (~$15.8M) in a Series A+ round from Cowin Capital and Shenzhen Capital Group. The startup has developed a digital magnetic isolator technology based on integrated MEMS and CMOS and offers products based on it, including isolated bus, digital isolator with integrated isolated power supply, isolated op amp, and isolated gate driver. Founded in 2017, it is based in Beijing, China.
ChipNext Semiconductor drew “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in Series A funding. ChipNext offers a range of power and analog chips, including video filter ICs, motor driver ICs, power management ICs, and linear ICs. Founded in 2015, it is based in Nanjing, China.
InventChip Technology received strategic financing from XPeng Motors. InventChip specializes in power devices based on silicon carbide, including SiC SBD, SiC MOSFET, modules, drivers, and controllers for switched-mode power supply, electronic control, and automotive electronics markets. Funds will be used for market development, R&D, general operations, and hiring. It is based in Shanghai, China, and was founded in 2017.
Cygnus Semi raised over $100.0M in pre-Series A+ and Series A rounds led by Matrix Partners China and Wofo Capital, joined by BAI Capital, Walden International, Huajin Capital, Shanghai Henglu Asset Management, Hengtong Optoelectronics, Haiyan Xinan Investment, and existing investors CDH Venture and Growth Capital, GGV Capital, and Green Pine Capital Partners. Cygnus Semi develops 5G chips for IoT devices targeting smart manufacturing, smart city, and smart transportation markets. Funds will be used for commercialization of its first product. Founded in 2020, it is based in Shanghai, China.
ZiFiSense Technology drew “several hundred million yuan” (CNY 100.0M is ~$15.8M) in a Series B+ round led by Lenovo Venture Capital and Guangyue Investment, joined by Sinochem and Thailand Siam Cement Group. ZiFiSense developed the ZETA low-power wide-area network technology for IoT communications. Managed by the ZETA Alliance, the specification deploys multiple Ultra-Narrow Band (UNB) channels for wide area coverage and deep signal penetration, incorporates distributed access to sensors through a low power multi-hop topology, and support of Edge-AI through a special algorithm-upgrade framework over-the-air. ZiFiSense licenses the ZETA IP to members to build modules and gateways and has developed its own modules for private LPWAN networks based on the technology. It also offers a wide-area sensing label powered on button or low-cost disposable paper batteries for tracking the movement of goods. Founded in 2013, it is based in Shanghai, China, and Cambridge, UK.
Comero Technology raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in seed funding that included Keytone Ventures. The startup is developing dual-frequency GNSS (global navigation satellite systems) chips with ultra-low power consumption, multi-source fusion, and continuous signal tracking capability for consumer and IoT markets. It expects to enter mass production with its first chip by the end of 2022. Based in Shanghai, China, it was founded in 2021.
Classiq drew $33.0M in Series B funding from Hewlett Packard Pathfinder, Phoenix Holdings, Spike Ventures, Samsung NEXT, and individual investors Lip-Bu Tan and Harvey Jones, along with existing investors Wing VC, Team8, Entrée Capital, Sumitomo Corp, and OurCrowd. Classiq offers automation and synthesis software to aid in the development of quantum algorithms, aiming to make knowledge of the underlying gate level details unnecessary by turning high-level functional models into optimized quantum circuits for a range of hardware and cloud providers. “This new funding comes at a pivotal time. The quantum industry is now moving from consulting services to quantum products and from prototyping to production. With this funding, we will expand upon our work to become the platform on which forward-thinking organizations develop game-changing quantum software that makes the impossible possible,” said Nir Minerbi, co-founder and CEO at Classiq. The startup plans to use the funds for hiring, opening new offices, and development. Based in Tel Aviv, Israel, and founded in 2020, it has raised $48M to date.
Nord Quantique raised CAD $9.5M (~$7.5M) in seed funding led by BDC Venture Capital and Quantonation, joined by Real Ventures. Nord Quantique is designing fault-tolerant quantum processors based on superconducting qubits. The startup uses bosonic codes implemented with superconducting circuits. It says that bosonic systems provide a larger encoding space and makes it easier to prevent the noisy interactions that produce errors, enabling circuits that are capable of mitigating errors on every individual qubit. Founded in 2020 as a spin off from the Institut Quantique, it is based in Sherbrooke, Canada.
Algorithmiq raised $4.0M in seed funding from Tiger Global, Thames Trust, K5 Global, and individual investors Jorma Ollila, Haakon Overli, David Helgason, Feroz Dewan, Keenan Rice, and others. Algorithmiq offers noise-resilient quantum algorithms for life sciences applications such as drug discovery. It can be used for quantum chemistry simulations on all major quantum cloud platforms. Founded in 2020, it is based in Helsinki, Finland.
QuantrolOx raised £1.4M (~$1.9M) in seed funding led by Nielsen Ventures and Hoxton Ventures, joined by Voima Ventures, Remus Capital, and individual investors Hermann Hauser and Laurent Caraffa. QuantrolOx is building automated, machine learning-based control software to tune, stabilize, and optimize qubits. The company is initially targeting solid-state qubits, but says it is applicable to all types of quantum technologies. Based in Oxford, UK, it was founded in 2021 as a spinoff from the University of Oxford.
Super.tech received a $1.7M grant from the U.S. Department of Energy. Super.tech offers a hardware-agnostic software platform for writing quantum programs in any source language that target any quantum computer. It also recently debuted a suite of benchmarks that measure a machine’s performance on various applications, which mirror real-world domains such as finance, chemistry, energy, and encryption. It assesses how well a device can complete optimization, simulation, or error correction tasks, among others. “We hope to drive a new way of thinking about quantum evaluation, one that’s based on capabilities, as quantum begins to be integrated into real-world workflows,” said Fred Chong, Super.tech co-founder and chief scientist. Based in Chicago, Illinois, USA, it was founded in 2020.
Quantagonia emerged from stealth with an undisclosed amount in pre-seed funding from Fraunhofer Technology Transfer Fund, Voima Ventures, and a family office. Quantagonia develops quantum algorithms for various business applications. The algorithms work across both classical and quantum computers without requiring users to reformulate models as quantum hardware develops. Founded in 2021, it is based in Bad Homburg, Germany.
Kunteng Photonics Technologies, also known as Q Infrared, raised CNY 200.0M (~$31.6M) in a Series B round. The company produces optical gas imaging sensors and VCSEL lasers for 5G communications, 3D sensing, and lidar. Founded in 2017, it is based in Jiaxing, China.
Tianyihexin Electronics raised “several hundred million yuan” (CNY 100.0M is ~$15.8M) in Series C financing led by CDH Investment Management Company and joined by CITIC, SL Capital, Nanjing Gaoke, Everest Venture Capital, and existing shareholders Xiaomi Changjiang Industrial Investment Fund and Juntong Capital. The company develops a range of analog ICs. Its products include Wi-Fi, Bluetooth, power management, data converters, and sensors, including heart rate, ECG, capacitive touch, temperature, ambient light, and sensor front ends. Applications include TWS headsets, wearables, and mobile devices. Based in Nanjing, China, it was founded in 2014.
TacSense Technology raised over CNY 100.0M (~$15.8M) in funding led by ICDF-Capital, joined by Ferry Venture Capital, Beijing Yuanhui Investment Management, and individual investor Wang Xiaochuan. TacSense develops flexible tactile sensing technology using ionic materials to form an ion-electronic interface in response to mechanical excitation that can provide real-time, high-sensitivity, low-noise tactile and pressure signals. The company has incorporated the technology into several products, including pressure distribution measurement systems for lithium battery manufacturing, TWS headphone modules, health monitoring shoes, and robot vacuum collision avoidance. Founded in 2018, it is based in Shenzhen, China.
SmartNanotubes Technologies received €2.4M (~$2.7M) in Series A financing led by Cottonwood Technology Fund and Duotec, joined by Mittelständische Beteiligungsgesellschaft Sachsen. SmartNanotubes offers a multi-channel gas detector chip for mass market applications. Based on carbon nanotubes, the startup’s chip can measure multiple gases while being highly sensitive, energy efficient, compact, and low cost. Alongside chips, it also offers boards and standalone devices. “As of now, our target markets include product quality in materials, food, and medical applications,” said Viktor Bezugly, co-founder and CEO/CTO of SmartNanotubes. “Other areas include safety and security in transport, consumer goods, and manufacturing through the early detection and identification of volatile organic compounds (VOCs) and hazardous gases. Moreover, SmartNanotubes can control air quality, for example in industrial environments such as cleanrooms.” Based in Freital, Germany, it was founded in 2020.
Istaric, also known as Xincan Technology, raised “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in Series pre-A financing. The startup develops full-size capacitive touch and OLED display driver chips. Based in Shenzhen, China, it was founded in 2020.
Levelek Technologies raised “tens of millions” of yuan (CNY 10.0M is ~$1.6M) in Series B funding from Xiaomi Private Equity Fund Management and China Fortune-Tech Capital. Levelek develops optical sensors including ambient light sensors, proximity sensors, integrated proximity and ambient light sensors, RGB sensors, and heart rate and SPO2 sensors for a range of applications including consumer electronics, IoT, and automotive. Based in Suzhou, China, it was founded in 2020.
Shuwei Intelligent, also known as Surertech, raised “tens of millions” of yuan (CNY 10.0M is ~$1.6M) in a Series pre-A round. The startup develops low-, mid-, and high-end lidar, 2D lidar, and MEMS-based lidar systems for applications such as robot positioning. Based in Nanjing, China, it was founded in 2020.
BeLead Sensor raised nearly CNY 10.0M (~$1.6M) in Series A funding from TFTR Investment. BeLead Sensor produces MEMS infrared sensors and modules for flame detection, gas analysis, and non-contact thermometers. Based in Wuhan, China, it was founded in 2015.
Aito received a €1.0M (~$1.1M) investment from Rabobank. Aito has developed an integrated finger sensing and haptic feedback solution capable of providing ultra-local feedback only where pressed. Applications include edge-to-edge touchpads for laptops, accessories, display screens, gaming devices, and AR/VR. The company says its technology is ready to be included in commercial products. Based in Amsterdam, the Netherlands, it was founded in 2012.
Porotech raised $20.0M in Series A financing led by Ameba Capital, joined by Speedinvest and others. Porotech developed a new class of porous gallium nitride (GaN) semiconductor material, which has holes tens of nanometers in diameter and can fit within existing industry processes. The material is used in its micro-LED products to deliver monochrome and full-color displays on a single indium gallium nitride (InGaN) material system. The startup says that using a single material system enables brightness, efficiency, and resolution required for high-quality image projection against bright backgrounds and outdoors in daylight. “We have delivered the world’s first InGaN-based red micro-LEDs and displays and have set up production of our first products,” said Porotech CEO and co-founder Dr Tongtong Zhu. “This latest funding will accelerate our work to ensure that PoroGaN drives the commercialization of XR glasses and the new wave of user interface innovation.” Based in Cambridge, UK, it was founded in 2020 as a spin out from the University of Cambridge.
Sheng Microelectronics, also known as SD Micro, raised over CNY 100.0M (~$15.8M) in Series B financing from China Merchants Securities, Gimpo Fund, Guochuang Zhongding, Zhengqi Financial, and others. The startup designs AMOLED display driver chips for applications such as smartphones, wearables, tablets, and notebooks. Based in Suzhou, China, it was founded in 2018.
FlexEnable drew $11.0M in Series B funding, with an option for an additional $14.0M, from LCD backlight module manufacturer Coretronic and others. FlexEnable offers an organic electronics platform comprising a set of manufacturing processes and organic semiconductor materials that can be used to manufacture glass-free, flexible organic LCD displays (OLCD) and liquid crystal optical films in existing display fabs. The company says the technology allows almost any surface to display information or steer, modulate, and focus light. Funds will be used for mass production ramp up of flexible displays and liquid crystal optical modules at Asian display manufacturing partners and to scale up the company’s organic materials production capacity. Founded in 2015 as a spin out from Cambridge University, it is based in Cambridge, UK.
Planck Innovation, also known as Pulang Innovation, raised CNY 50.0M (~$7.9M) in angel financing that included Casstars and Topping Capital. Planck Innovation produces quantum dot fluorescent materials, optical films, and quantum dot LED display modules for semiconductor display applications. Founded in 2016, it is based in Shenzhen, China.
Afalight drew “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in Series B financing led by Shenzhen Venture Capital. Afalight develops optoelectronic modules including standardized and customizable HDMI, USB, DisplayPort, and DVI modules and Source Optical Cables. It targets consumer products, including TVs and displays, mobile phones, video projectors, and VR, as well as for industrial cameras, medical equipment signal transmission, and automotive. Funds will be used for equipment, R&D, and hiring. Founded in 2016, it is based in Shenzhen, China.
Xvisio Technology received “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in Series A funding from Ruihe Investment, Unicom Venture Capital, and others. Xvisio Technology provides core technologies and integrated SLAM solutions (simultaneous location and mapping) for AR/VR/MR glasses. Its flagship product is an integrated edge platform that combines VSLAM engine, depth engine, AI engine, and hand gesture and eye tracking engine into one system. Based in Shanghai, China, it was founded in 2016.
TTTech Auto raised $285.0M in corporate funding from Aptiv and Audi. TTTech Auto offers a safety software platform for automated driving that provides integration and real-time orchestration of applications, global scheduling logic, and tools within a vehicle architecture. It can be used to integrate, test, validate, and schedule multiple components and applications while encapsulating them from their peers. The three companies previously worked together on Audi’s central driver assistance controller for automated driving. “The next few years will be critical for the entire industry in the transition from automation to semi-autonomous driving and the software-defined vehicle,” said Georg Kopetz, CEO, TTTech Auto. “This funding will strengthen our position as a leader in automotive safety software and significantly increase our global footprint.” Funding will also be used to expand its product portfolio and for M&A and product investments. An independent company operating under the umbrella of the TTTech Group, it was formed in 2018 from TTTech Group’s automotive business. It is based in Vienna, Austria.
Inceptio Technology raised $188.0M in Series B+ financing led by Sequoia Capital China and Legend Capital, joined by Chow Tai Fook Enterprises Limited, Cedarlake Capital, Wuchan Zhongda Group, existing investors Meituan, NIO Capital, Eight Roads, Broad Vision Funds, and others. Inceptio is developing a full-stack autonomous driving platform for heavy-duty trucks. It is partnering with a Chinese OEM on mass producing L3 trucks for line-haul freight routes across China. Based in Shanghai, China, it was founded in 2018.
LeddarTech raised $140.0M in Series D and debt facility. The $116.0M Series D was led by FS Investors and joined by Investissement Québec, BDC Capital, Go Capital, Fidelity Investments Canada ULC, Fonds de solidarité FTQ, Export Development Canada, ams OSRAM, Desjardins Capital, UI Investissement, Cowen Investment II, and other LeddarTech management. The $24.0M debt facility was secured with Desjardins Group. LeddarTech provides ADAS and autonomous driving sensing software, including a raw-data sensor fusion and perception platform that generates a comprehensive 3D environmental model with multi-sensor configurations to support Level 2+ to Level 5 full autonomy. It also supports lidar with a digital beam steering device and development solutions. Funds will be used to accelerate development and commercialization as well as expand engineering resources. Founded in 2007, it is based in Quebec, Canada.
Annotell raised $24.0M in Series A funding led by Metaplanet and NordicNinja, joined by Stena Sessan AB and Ernström & Co. Annotell provides a software platform for training, testing, measuring, and arguing the safety of perception systems for autonomous driving and ADAS. The company plans to add products to cover things such as assessing datasets and calculating perception performance KPIs. Founded in 2018 and based in Gothenburg, Sweden, it has raised over $31M so far.
Morai drew $20.0M in a Series B round from new investors Korea Investment Partners, KB Investment, and Korea Development Bank, as well as from existing investors Naver D2 Startup Factory, Hyundai Motor Group, Kakao Ventures, and Atinum Investment. Morai provides full-stack autonomous vehicle simulation solutions, including environments, sensor models, and vehicle models. Its offerings include the ability to automatically convert HD map data into digital twins for large-scale simulation environments and a cloud-based platform that builds a variety of simulation environments. Funds will be used for hiring, global expansion, and to expand into other markets such as urban air mobility simulation. Founded in 2018 and based in Seoul, South Korea, it has so far raised $25M.
Minieye raised “several hundred million yuan” (CNY 100.0M is ~$15.8M) in Series D2 funding from CDB Manufacturing Transformation Fund, Unicom CICC, CICC Capital, Chongqing Kexing Kechuang Equity Investment, and Oriental Fortune Capital. The company offers pre-installed and aftermarket L1 and L2 assisted driving and parking systems to automakers and has plans to enter the low-speed fully autonomous driving market. Minieye also offers in-cabin sensing. Its latest product is a L2+/L2++ driver assistance system that utilizes cameras, mmWave radar, and lidar. Founded in 2013, Minieye is based in Shenzhen, China.
Yunji Zhihang Intelligent Technology, also known as Pegasus, raised “hundreds of millions” of yuan (CNY 100.0M is ~$15.8M) in angel financing led by Hillhouse Capital and joined by Country Garden Venture Capital, Green Pine Capital Partners, Walden International, and others. The startup is working on a L4 autonomous driving platform targeting logistics and large passenger vehicles. Based in Shanghai, China, it was founded in 2021.
Hong Jing Drive, also known as Hyperview, raised $15.0M from Aramco’s Prosperity 7 Ventures. The startup provides full-stack autonomous driving and ADAS solutions for heavy trucks and passenger vehicles. Based in Hangzhou, China, it was founded in 2018.
Helm.ai brought an additional $4.0M into its Series B financing announced in November 2021, with Honda and Tier 1 auto supplier Mando joining the now $30.0B round. Helm.ai develops AI software for ADAS and L4 autonomous driving in both commercial and consumer vehicles. Its software covers perception, intent modeling, path planning, and vehicle control and uses an unsupervised learning method using mathematical modeling that the company says allows it to train on large scale datasets quickly and cost-effectively with little to no human intervention. Founded in 2016, it is based in Menlo Park, California, USA.
PilotD Automotive drew “tens of millions of yuan” (CNY 10.0M is ~$1.6M) in pre-Series A funding. PilotD Automotive provides simulation software for testing and verifying the performance of automotive sensors, perception systems, and automated driving solutions. Founded in 2017, it is based in Shanghai, China.
Beijing Trunk Technology (TrunkTech) closed its Series B round led by BAIC Capital and joined by SDIC and Advantage Capital. TrunkTech produces L4 autonomous heavy trucks for both port and highway operations. It is currently operating vehicles in Tianjin Port and Ningbo Port. Based in Beijing, China, it was founded in 2017.
ADAS company Geometrical Pal (G-PAL) received strategic investment from Bosch’s Boyuan Capital. The startup provides an L3 autonomous driving system, jointly developed with SAIC Motors, that uses 4D millimeter-wave imaging radar complemented by long-wave infrared and visual cameras with spatial analysis and decision software. “G-PAL has been committed to building the industry’s leading automotive-grade 4D MMW Imaging radar since its inception. With multi-sensor fusion decision algorithms and software and hardware integration capabilities, low-cost mature products are commercially landed and highly recognized by leading OEMs,” said Zhu Lin, Managing Partner and CEO of Boyuan Capital. Founded in 2018, it is based in Shanghai, China.
Mingshang Technology received strategic investment from Horizon Robotics and PATEO Group. Mingshang Technology develops in-vehicle entertainment, driver monitoring systems, ADAS, blind spot detection, surround view, and camera systems for large vehicles such as buses, motorhomes, trucks and semi-trailers, and industrial and construction equipment. Founded in 2003, it is based in Huizhou, China.
CelLink raised $250.0M in Series D financing led by Whale Rock Capital, joined by D1 Capital Partners, T. Rowe Price Associates, Fidelity Management and Research Company, Park West, Standard Investments, and Atreides Management, as well as existing investors 3M Ventures, BMW iVentures, Fontinalis Partners, Franklin Templeton Investments, Lear Corporation, Robert Bosch Venture Capital, and Tinicum Venture Partners. CelLink manufactures electrically and thermally conductive flexible circuits for automotive electrical distribution systems. It says its flexible wire harness products can reduce traditional wire harness weight by more than 70% and spatial volume by more than 90% and can be pre-integrated with other vehicle electronics such as ECUs, sensors, and modules. The company’s products have been in mass production since 2019, and it plans to expand beyond passenger automotive to commercial vehicles, aerospace, off-highway, agriculture, military vehicles, marine, and industrial applications. Funds will be used for the construction of a new manufacturing facility in Georgetown, Texas, set to open in mid-2022, as well as hiring. Based in San Carlos, California, USA, it was founded in 2012.
Shanghai Thinktech raised over CNY 100.0M (~$15.8M) in strategic financing that included F&G Venture and SAIC Venture Capital. Thinktech offers automotive security SoCs and software with a focus on connected vehicles and applications such as vehicle-cloud encryption certification, security on-board communication encryption certification, and V2X message authentication. Its chips have been used in cars from a number of Chinese automakers. Funds will be used in developing high-end automotive MCUs. Founded in 2017, it is based in Shanghai, China.
Lingxin Electronics, also known as Len Technology, raised “tens of millions of dollars” in a Series B round from Sequoia Capital China and Hua Partners. The startup develops analog automotive chips including power management chips, car lamp LED driver chips, gate-level driver chips, and motor driver chips. Based in Wuxi, China, it was founded in 2017.
Ion Storage Systems drew $30.0M in Series A funding led by Clear Creek Investments, VoLo Earth Ventures, and Alsop Louie Partners. Ion Storage Systems is developing high energy density, solid state lithium metal batteries using nonflammable, low-cost materials with a dense ceramic electrolyte as a separator. The company says that the cathode-agnostic architecture is safer and lighter than typical lithium-ion batteries. Funds will be used in commissioning and qualifying a battery cell manufacturing line capable of producing 10MWh per year of its solid state batteries, with an initial focus on qualifying commercial cells for aerospace and defense customers. It is also working with EV and consumer electronics companies. Founded in 2015, it is based in Beltsville, Maryland, USA.
Zeta Energy closed a $23.0M Series A round led by Moore Strategic Ventures. Zeta Energy has developed a lithium sulfur battery using both a proprietary cathode and anode. The company says its cathodes based on a sulfurized carbon material have high stability, capacity, and are inexpensive without using cobalt, nickel, or manganese. Its lithium metal anodes have higher energy density without dendrite issues. Funding will be used to expand laboratory facilities and for commercialization. Founded in 2014, it is based in Houston, Texas, USA.
Nth Cycle raised $12.5M in a Series A round led by VoLo Earth and Frankstahl, joined by Mercuria, Clean Energy Ventures, and MassMutual. Nth Cycle’s electro-extraction process recovers critical minerals such as cobalt and nickel from discarded lithium-ion batteries, low-grade ores, and mine site waste using only electricity and carbon filters. It plans a full commercial demonstration in April. Founded in 2017, it is based in Beverly, Massachusetts, USA.
Soelect completed a $11.0M Series A round from Lotte Ventures, GM Ventures, and KTB Network. Soelect has developed a lithium-based metal foil that is used in its dendrite-resistant lithium metal anode technology, as well as a polymer-based solid-state electrolyte membrane. The components can be used individually or together for applications including electric vehicles, portable electronics, power tools, and drones. The company says the technology enables batteries to reach 100% charge in 15 minutes and have 80% capacity retention over 400 use cycles. Founded in 2018, it is based in Greensboro, North Carolina, USA.
Wireless charging startup Resonant Link raised a $9.3M seed round led by The Engine, joined by new investor Volta Energy Technologies and previous investors including Emerson Collective, Scout Ventures, Urban Us, and FreshTracks Capital. Resonant Link develops wireless charging technology for medical devices, electric industrial equipment, and electric vehicle fleets based on the company’s multilayer self-resonant structure (MSRS) wireless charging coil. “Our technology isn’t just an evolution in wireless charging; by fundamentally changing the wireless coil geometry from two to three dimensions, we enable charging speeds equal to and faster than wired, longer ranges, smaller chargers, and radically reduced on-board battery sizes. This smaller battery footprint and longer operating life results in less obtrusive medical implants and less stops and more miles for industrial fleets,” said Grayson Zulauf, co-founder and CEO of Resonant Link. Funding will be used for hiring and to support product development and customer deployment. Founded in 2017, it is based in Shelburne, Vermont, USA.
Bold Valuable Tech drew €2.3M (~$2.6M) in seed funding led by individual investors David Vilanova and Josep Maria Tarragó. Bold develops battery technology targeting applications where weight and safety are critical, such as automotive and aviation. Its current product development pipeline includes a solution capable of achieving gravimetric specific energy of 350 Wh/kg at battery pack level while complying with aviation standards such as DO-311A and DO-160G. “The funds will be used to accelerate technology development by means of investment in CAPEX and to recruit talented engineers from a diversity of countries,” said Bold CEO Bernat Carreras. Based in Montmeló, Spain, it was founded in 2019.
Battery material startup HeXalayer received a grant from the Kentucky Innovation Network. The company is developing graphene anodes for lithium-ion batteries. Based in Louisville, Kentucky, USA, it was founded in 2017.
Sienza Energy received an undisclosed amount as part of its Series A from individual investor Patrick Soon-Shiong. Sienza Energy is developing a battery electrode architecture based on based on billions of individual 3D nanostructures that form the electrode and provide about 100 times the surface area for chemical reaction compared to conventional lithium-ion batteries. The approach can be applied to different battery chemistries. “Not only will we enable EV batteries to be built at half the current cost and provide twice the range for the same size batteries, but our process will be environmentally sustainable,” said Isabelle Darolles, Sienza Energy’s CTO. Founded in 2017 as a spin out from Caltech, it is based in Pasadena, California, USA.
EV maker Hozon Auto raised over CNY 2000.0M (~$316.6M) in Series D funding from CRRC Corp, Shenzhen Capital Group, and others. The company has released three electric vehicle models under the Nezha brand, with the most recent being a small-size SUV with a 400km (~250 mile) range. Hozon is based in Jiaxing, China, and was founded in 2014.
Volta Trucks raised €230.0M (~$258.1M) in Series C funding led by Luxor Capital Group and joined by Byggmästare Anders J Ahlström, Agility, and B-FLEXION. Volta Trucks makes fully electric trucks for urban logistics with a range of 95 to 125 miles. The company says it has received 5,000 pre-orders for its 16-tonne Volta Zero truck. Production is expected to begin by the end of 2022 and the company has plans for 7.5- and 12-tonne derivatives. Based in Sigtuna, Sweden, it was founded in 2019.
DeepDrive raised €4.3M (~$4.8M) in seed funding from UVC Partners, Wachstumsfonds Bayern, and individual investors Peter Mertens and Jonas Rieke. DeepDrive is developing powertrains for electric vehicles based on a gearless in-wheel motor. The startup says its powertrain is 20% more efficient compared to current systems, leading to better range and space efficiency. Funding will be used to meet the demand for prototypes. In the future, it plans to offer complete plug & play vehicle platforms that are modular and flexibly scalable. Founded in 2021, it is based in Munich, Germany.
Table: Selected companies that received investment in February 2022.

Intel launched a $1000.0M fund to support early-stage startups and established companies in the foundry ecosystem. A collaboration between Intel Capital and Intel Foundry Services, the fund will prioritize investments in companies that accelerate foundry customers’ time to market, including intellectual property (IP), software tools, chip architectures, and advanced packaging technologies.
Hua Capital Oriza Management, an investment platform of Oriza Holdings, closed its third RMB-denominated fund at over CNY 4200.0M (~$659.5M). Oriza Hua focuses on investing in companies in the semiconductor industry, including IC design, equipment, materials, new processing technologies, key IP, R&D technical services, tool chain development, and distribution.
NGP Capital, an independent VC backed solely by Nokia, closed its new $400.0M Fund V that will focus on companies in the edge cloud, cybersecurity, digital industry, and digital transformation sectors, particularly those using AI/ML, low code, and blockchain and with strategic relevance to Nokia. U.S., Europe, and China are target areas.
Fosun RZ Capital closed its third RMB-denominated fund at over $300.0M. The fund will invest in early and growth stage startups in technology and new consumer goods industries, with a focus on semiconductor chip, autonomous driving, SaaS, new energy, robotics, cross-border business, and cybersecurity.
NextFlex launched a $11.5 million funding round for proposals in the flexible hybrid electronics (FHE) space. Areas of emphasis include FHE-enabled manufacturing for automotive applications, additive manufacturing for FHE devices, advanced packaging applications, and sustainable electronics manufacturing. NextFlex is a U.S. Department of Defense-sponsored Manufacturing Innovation Institute funded by the Air Force Research Laboratory.
Companies using AI to power up customer service and advertising drew big money from investors last month. General Motors’ self-driving car unit Cruise also received a massive $1,350.0M investment from SoftBank as it rolls out robotaxi service in San Francisco. Here are some of the month’s largest rounds for companies using AI in products and services.

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Upcoming versions of high-bandwidth memory are thermally challenging, but help may be on the way.
Wireless technology is getting faster and more reliable, but it’s also becoming more challenging to support all of the necessary protocols.
A growing number of standards and regulations within the automotive ecosystem promises to save developments costs by fending off cyberattacks.
First systems built, with production planned for 2025; hyper-NA to follow next decade.
Technology and business issues mean it won’t replace EUV, but photonics, biotech and other markets provide plenty of room for growth.
Sensor technologies are still evolving, and capabilities are being debated.
Upcoming versions of high-bandwidth memory are thermally challenging, but help may be on the way.
But gaps in tools make it difficult to address warpage, structural issues, and new materials in multi-die/multi-chiplet designs.
Wireless technology is getting faster and more reliable, but it’s also becoming more challenging to support all of the necessary protocols.
Gate-all-around is set to replace finFET, but it brings its own set of challenges and unknowns.
Academia, industry partnerships ramp to entice undergrads into hardware engineering.


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