Primarius Technologies Raises Hundreds of Millions of Yuan in Series A Funding Led by Intel Capital and Xingcheng Capital
2020-04-02
Primarius Technologies, EDA company that provides advanced device modeling and fast circuit simulation today announced it has completed hundreds-of-millions-of-Yuan Series A round of financing. Intel Capital and Xingcheng Capital led the investment round. The investment will help the company aggressively accelerate product and solution development aimed at in-depth linkage of IC design and manufacturing as well as expand sales and marketing efforts worldwide.
Intel Capital and Xingcheng Capital invest in early stage technology startups that possess strong technical strength and good market prospect, with many notable investments such as AMEC, which last year completed its IPO on the Shanghai Stock Exchange, STAR Market.
The Series A financing builds on an exceptional year for Primarius Technologies which saw rapidly growing of revenue three consecutive years and market momentum in the white-hot field of EDA. Primarius Technologies’ customer roster includes many foundries and design companies such as TSMC, GlobalFoundries, Samsung, and Micron among many others.
“Primarius Technologies is promising company and also anticipated company to Xingcheng Capital in the semiconductor industry.” said Xiaofei Chen, Chairman of Xingcheng Capital, “We believe that this investment can accelerate the application and expansion of Primarius Technologies’ world-renowned products and solutions to the booming Chinese market. We are excited to collaborate with and support Primarius Technologies as it gives impetus to more and more chip companies.”
“With the continuous improvement of semiconductor technology, the function and architecture of chips are becoming increasingly complicated. We hope that Primarius Technologies’ high-end EDA tools can play a key role in accelerating chip design and improving fabrication yield, thus allow the semiconductor industry to continue pushing forward Moore's law and create more powerful and diverse products. " said Wang Tianlin, Intel Capital Managing Director & China Country Manager.
“We are very honored to be recognized by Xingcheng Capital, Intel Capital and other investors. It is a new milestone of Primarius Technologies.” said Primarius Technologies CEO Zhihong Liu. “As the support of chip design process, EDA needs innovation and breakthrough in conception. We will emphasize on the industrial pain points, accelerate the in-depth collaboration between the development of advanced technology and the design of high-end chips, especially all kinds of memory, complement with the existing mainstream EDA process, and launch innovative EDA products and solutions. At the same time, we will focus on talent introduction and strengthen resource integration, cooperate with our strategic partners and customers, promote domestic EDA innovations, and boost the vigorous development of IC industry.”
About Intel Capital
Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, data center and cloud, 5G, next-generation compute and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US$12.9 billion in more than 1,582 companies worldwide, and 692 portfolio companies have gone public or participated in a merger. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000.
About Xingcheng Capital
Xingcheng Capital focuses on the semiconductor industry investment. It has made extensive and in-depth investments to wafer factories, EDA and IP, design companies, high-end core equipment and materials in China. It is not only an important investor of many leading enterprises in the industry, but also helps many start-ups thrive. Xingcheng Capital takes root in the industry, actively integrates various resources to empower companies, and commits to promote the innovation and progress of China's semiconductor industry.
