Lightspeed Invests In Chinese Semiconductor Startup PrecisioNext

Semiconductor startup PrecisioNext has closed its Series B round, raising 100 million yuan ($15 million) led by Oriza
Holdings’ sub-fund Oriza Rivertown, according to a company statement on Friday.

The round was joined by existing investors including internet-focused Lightspeed China Partners, Yunqi Partners,
and Beijing Fellow Partners Investment Management. PrecisioNext will invest most of the proceeds to further
develop its advanced semiconductor equipment.

Lightspeed had initially backed PrecisioNext’s angel round in 2018, while Yunqi as a long-term investor in
PrecisioNext, had participated in its Series A round in 2018 and Pre-B round in 2020.

With headquarters in Southeast China’s Dongguan and divisions in Shenzhen and Hong Kong, PrecisioNext takes
efforts to help achieve smart manufacturing transformation by producing intelligent devices comprising motion
controllers, servo drives, die bonders, and packaging test equipment, among others.

China’s market size for IC packaging test equipment is expected to reach over 353 billion yuan ($55 billion) by the
end of 2021, the company said.

South Africa Today

Read more at VolaNews

Source link