Semiconductor packaging firm raises bundle in financing round

NanoStep Semiconductor Technology Ltd, a Chinese semiconductor packaging firm, announced on Thursday it has raised tens of millions of yuan in its A-round of fundraising by Sinovation Ventures.

The new round of financing will be used to expand its production capacity and accelerate the research and development of other core equipment in packaging, and furthermore contribute to the homegrown semiconductor industry.

"With the widespread application of technologies like artificial intelligence, big data, 5G, internet of things and automotive electronics, the semiconductor industry has become the basic supporting sector of the national economy," said Wang Zhenxiang, investment director of Sinovation Ventures.

China has also become the largest country in chip consumption. "Semiconductor equipment is the key support for semiconductor production, packaging and testing," Wang said.

According to Li Huanran, founder and CEO of NanoStep, the company's production base in Changshu, Jiangsu province the company is able to realize mass production.

Once all production lines were completed, the capacity of its IC ball bonding machines is expected to hit between 1,500 and 2,000 units a year, Li said.

"We aim to develop the firm into a hidden champion in the field of IC ball bonding, and furthermore a global leader in semiconductor packaging equipment," he said.