Garen Semiconductor raises Series A for gallium oxide push

What's the deal? Hangzhou-based Garen Semiconductor has raised several hundred million yuan in a Series A round co-led by Fangyuan CapitalDealroom has a profile for this one. Try Dealroom → and Shenzhen Capital Group. The round drew a wide investor list, including CRRCDealroom has a profile for this one. Try Dealroom →, Zhuzhou Gaoke Industrial Investment, and Huarui InvestmentDealroom has a profile for this one. Try Dealroom →, while existing backers Jiuzhi CapitalDealroom has a profile for this one. Try Dealroom → and Yiling CapitalDealroom has a profile for this one. Try Dealroom → added oversized follow-on commitments.

What's the endgame? Garen develops gallium oxide, a next-generation semiconductor material, and plans to use the money to advance its commercialisation. It aims to help downstream chip customers complete device validation and connect the full chain from substrate and epitaxy to chip devices and end applications.

Why now? The company will also expand mass-production capacity for 6- and 8-inch substrates and epitaxy. It cited rising customer orders and the need for higher yields and faster delivery.

The signal: The broad syndicate — spanning state-linked investors, industrial players like CRRC, and dedicated funds — points to growing appetite for advanced materials in China's semiconductor sector.

Read more: Jiemian

Image credit: IBM Research