AkroStar nets $62m and 10 more deal updates from Greater China

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. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
WuXi DiagnosticShanghai150 millionB-Thermo Fisher Scientific, Shiyu Capital, ABC International, Sunland Capital, CCBI Tech Venture, YF CapitalHealthTech
Yisheng BiopharmaBeijing130 millionBOrbiMed, Oceanpine Capital-Biotech
TeligeneSuzhou93 millionPre-IPO- GTJA Investment GroupN/A
AkroStar Zhuhai62 millionAngel, 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 QinInfrastructure
SinotauBeijing50 millionDCICC Qide CapitalEverest VCN/A
AnchorDxGuangzhou40 millionCOrbiMed, Wuxi Huiying Investment-Biotech
ReflowerBeijing15 millionC1-Plum Ventures, 9C CapitalN/A
Medical AIBeijing15 millionB+CITIC Medical & HealthGuangzhou Zhongfu Yide Equity InvestmentN/A
LazybearTaiyuan15 millionATS CapitalGS Capital, ByteDanceN/A
Saturn TechnologyNanjing* 1.5 millionADaocin CapitalShanghai Ameba Capital, Bonshine CapitalAI and Machine Learning
RainSure ScientificSuzhou* 1.5 millionB1-Kaitai Capital, Zero2IPO Asset Management, Future Capital, Volcanics VentureN/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. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.