Recently, Jiangsu Chaoxinxing Semiconductor Co., Ltd. (“Chaoxinxing”) completed the B round of financing of 100 million yuan. This round of financing was led by Ince Capital, followed by Zhejiang Chuangzhi New Energy, Dayou Capital, and Jiayin Fund.
Founded in April 2019 and headquartered in Nanjing, Jiangsu, Chaoxinxing is a company focusing on the industrialization of large-size silicon carbide substrates. At present, it has achieved mass production and shipment of 6-inch silicon carbide substrates.
The founding team of Chaoxinxing originated from Norstel, and has led the research and development and industrialization of 1, 2, 3, 4, and 6-inch silicon carbide substrates. In 2020, the company successfully developed HTCVD equipment. Compared with the PVT technology route, HTCVD technology can achieve higher thickness, higher purity, higher quality and lower cost of silicon carbide crystal growth.
At present, the company’s 6-inch silicon carbide substrate has entered the US device manufacturers. In order to meet the needs of the global market, the company is orderly delivering goods and actively expanding production. It is expected that the production capacity of 6-8 inch silicon carbide substrates will increase to 1.5 million pieces per year in the future.
Liu Xinyu, founder of Chaoxinxing, said: “Technical innovation is the core to meet the application needs of silicon carbide. Through continuous iterative upgrading of technology, the total defect density of 6-inch substrates has been achieved better than that of international counterparts, with a minimum of 560/cm2 , will further improve the yield rate of power devices. In the future, the company will always be driven by technological innovation to provide customers with better and better solutions.”
Talking about the logic of this investment, Gan Jianping, founding partner of Ince Capital, said: “Silicon carbide-based power semiconductors are widely used, among which the downstream market represented by electric vehicle main drive inverters not only has great potential in the future market, but also has great impact on devices. The extreme requirements of performance and reliability are also very challenging. The Supercore Star team has many years of mass production experience from leading silicon carbide substrate companies, and also masters two generations of PVT and HTCVD technology routes. The current 6-inch substrate quality and yield It has achieved a quite leading level, and is gradually introducing a number of domestic and foreign head device manufacturers. The large-scale expansion of Supercore Star is expected to accelerate the increase in the penetration rate of global silicon carbide and alleviate the serious problem of global high-quality and large-size silicon carbide substrates. The contradiction between supply and demand.”
Luan Xiaoxin, a partner of Dayou Capital, said: “Silicon carbide, as the next-generation standard device in the entire new energy industry chain, has a huge market capacity, and the substrate link is the most technically difficult and the largest in output value. As a domestic The first-class silicon carbide industrialization team at home and abroad has successfully completed the first batch of key technology reserves such as large-scale diameter expansion, high thickness, and PVT+HTCVD two crystal growth technologies in China within just over 3 years of establishment. In terms of progress, it has completed key steps such as IATF16949:2016 quality management system certification, domestic and foreign first-class device customer certification and batch shipment, and tens of thousands of production capacity construction and production. With the current acceleration of new energy vehicles and photovoltaic energy storage, etc. For the application of silicon carbide solutions, the era of Supercore Star has opened, and we are firmly optimistic about and support the company’s future development.”
Wang Tie, general manager of Jiayin Fund, said: “I am very pleased to participate in the B round of financing of Jiangsu Chaoxinxing Semiconductor Co., Ltd. Jiayin Fund has been committed to the discovery of new materials and new industry leading projects that will have global competitive advantages in China in the future. and investment. As an important part of the new energy industry, the third-generation semiconductors, especially silicon carbide power devices, we have been paying full attention to and investment layout. Through the analysis and observation of the important upstream resource silicon carbide substrate industry, we believe that Superchip Superstar has the core advantages of growing into a leading company in the industry in terms of technology foundation, R&D team and future product line development. It is believed that with the efforts of Liu Bo and the core team, Chaoxinxing can contribute to the development of China’s third-generation semiconductors and new energy industries. made a significant contribution.”
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