Chip Technology Firm Sandtek Secures 100M Yuan in Fresh Capital
Sandtek Corporation, a developer of semiconductor equipment and accessories, has recently completed financing of 100 million yuan ($14.7 million). Investors were Hillhouse Capital, FWI Capital and Guangdong Hengyitai Fund.
Sandtek was established in 2016. It is an equipment provider focusing on the R&D, production and sales of special equipment in the field of packaging and testing for the semiconductor industry.
Its products meet the needs of semiconductor packaging and testing manufacturers both in China and abroad for integrated circuit packaging and testing and other mechanical automation production. Sandtek aims to improve the production efficiency of semiconductor packaging and testing links, and guarantee the product quality and application effect of semiconductors.
The market size of the global SOC test system is huge, and it is still dominated by several enterprises such as Teradyne Inc., Advantest Corporation and Chroma ATE Inc. Leveraging import replacement windows and policy support for the semiconductor industry chain, Sandtek has grown rapidly over the past few years and has been certified as a supplier to well-known semiconductor manufacturers.
With demand from industries such as new energy vehicles and photovoltaics, the semiconductor field is also likely to continue its upward trend. According to Omdia, the global power semiconductor market size in 2021 was about $46.2 billion, as the market size of the world’s largest power semiconductor consumer, China, reached $18.2 billion.
SEE ALSO: Tencent Invests in Optical Waveguide Chip Firm OptiArk Semiconductor
In terms of policies, a document issued by the Chinese government in March 2021 proposed that the “14th Five-Year Plan” should lay a solid foundation for key core technologies, improve the overall efficiency of innovation chain, focus on core chips, semiconductor equipment, third-generation semiconductors and other aspects, promoting the optimization and upgrading of the manufacturing industry.
