Beijing (ZXZC)- Chinese SiC semiconductor supplier InventChip Technology announced on December 21 the completion of its Pre-B series financing, which raised for the company several hundred million yuan. 

Photo credit: InventChip Technology

The fresh round was jointly led by two SAIC Motor-backed funds, namely, SAIC Motor Strategic Direct Investment Fund and Shangqi Capital, and attracted multiple other investors. 

According to InventChip Technology, proceeds from the Pre-B round will help the company expand the production capacity at its SiC wafer factory in Yiwu, Zhejiang Province. Moreover, the funds will also be put towards the company’s operations and technological R&D. 

Founded in July 2017 in Shanghai’s Lin-gang Special Area, InventChip Technology focuses on silicon carbide (SiC) power device and driver/control IC products. The company has attracted investments from various well-known entities, including Xiaomi, CATL, GAC Group, and GF Xinde Investment in its A+ and A++ rounds, which also raised for the company hundreds of millions of yuan. 

In February 2022, InventChip closed a strategic investment round exclusively funded by XPeng. 

According to the company, its 6-inch SiC wafer plant has been put into operation. InventChip Technology will continue to ensure the stable production and high-quality delivery of its products to clients, making advancements in SiC processes and product iterations. Up to now, the cumulative output of the company’s SiC MOSFET has reached over 2 million units.