Shanghai (ZXZC)- Chinese silicon carbide (SiC) power device developer Sichain Semi (“Sichain”) on Apr. 26 announced via its WeChat account that it has completed its Series A+ financing with hundreds of millions of yuan raised.

The fresh round was jointly led by NIO Capital, Silan and its strategic fund, as well as Walden International. It also attracted Macmic Science & Technology Co., Ltd., Hongfu Investment, and several power supply and photovoltaics companies. The returning investor GL Ventures still joined the round.

Proceeds from the round will be used to further improve the company’s supply chain layout, expand its staff team, and build a volume-production laboratory, and ramp up production capacity.

Photo credit: Sichain Semi

Since the completion of the Series A financing at the end of 2021, Sichain has made a series of significant progress in the development of SiC device technologies and products. According to the company, its 1200V SiC MOSFET platform technology has passed the AEC-Q101 automotive-grade certification and 960V-H3TRB reliability verification with multiple specifications of products mass-produced. It also launched China’s first domestically mass-produced 15V drive SiC MOSFET series products, which have accumulated shipments of nearly 1 million chips, and been supplied to many leading companies in the photovoltaics and energy storage industries.

In the future, Sichain will continue to focus on the development of main-drive chips for electric vehicles, providing high-performance, high-reliability, and cost-effective custom chips for new energy vehicle companies.