Semiconductor startup AkroStar has closed its angel and pre-Series A rounds of financing raising more than 400 million yuan ($62 million), per a company statement on Wednesday.
The pre-Series A round was backed by a slew of investors including Asia-focused PE firm Hillhouse Capital, Sequoia Capital China, V Fund, early-stage focused firm Gaorong Capital, Green Pine Capital Partners, and 5Y Capital and others.
ZhenFund and Beijing Dashu Changqing, who invested in AkroStar’s Angel round, also re-upped in the latest round.
AkroStar will use the corpus raised for talent recruitment, product manufacturing and innovations, and service supports.
Located at Southeast China’s Zhuhai city, AkroStar’s offerings are widely used across sectors such as data centre, smart vehicle, 5G network, IoT, AI, and consumer electronics, among others.
China’s IC chip design industry is expected to reach nearly 900 billion yuan ($140 billion) by the end of 2025.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on February 24, 2021.
| Startup | Headquarter | Investment Size (USD) | Investment Stage | Lead Investor(s) | Other Investor(s) | Verticals |
|---|---|---|---|---|---|---|
| WuXi Diagnostic | Shanghai | 150 million | B | - | Thermo Fisher Scientific, Shiyu Capital, ABC International, Sunland Capital, CCBI Tech Venture, YF Capital | HealthTech |
| Yisheng Biopharma | Beijing | 130 million | B | OrbiMed, Oceanpine Capital | - | Biotech |
| Teligene | Suzhou | 93 million | Pre-IPO | - | GTJA Investment Group | N/A |
| AkroStar | Zhuhai | 62 million | Angel, Pre-A | - | Hillhouse Capital, Sequoia Capital China, V Fund, Gaorong Capital, Green Pine Capital Partners, 5Y Capital, ZhenFund, Beijing Dashu Changqing Investment, Panorama Capital, Zhuhai Da Heng Qin | Infrastructure |
| Sinotau | Beijing | 50 million | D | CICC Qide Capital | Everest VC | N/A |
| AnchorDx | Guangzhou | 40 million | C | OrbiMed, Wuxi Huiying Investment | - | Biotech |
| Reflower | Beijing | 15 million | C1 | - | Plum Ventures, 9C Capital | N/A |
| Medical AI | Beijing | 15 million | B+ | CITIC Medical & Health | Guangzhou Zhongfu Yide Equity Investment | N/A |
| Lazybear | Taiyuan | 15 million | A | TS Capital | GS Capital, ByteDance | N/A |
| Saturn Technology | Nanjing | * 1.5 million | A | Daocin Capital | Shanghai Ameba Capital, Bonshine Capital | AI and Machine Learning |
| RainSure Scientific | Suzhou | * 1.5 million | B1 | - | Kaitai Capital, Zero2IPO Asset Management, Future Capital, Volcanics Venture | N/A |
∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopted the smallest number in the range, which is “10 million yuan ($1.5 million)” in the given example.
