InventChip Completes Financing Round With Investment by XPeng
Shanghai InventChip Technology Co., Ltd., a silicon carbide (SiC) semiconductor solutions provider, announced on Wednesday the completion of a strategic financing round featuring exclusive investment from XPeng Motors. The funds will mainly be used for market development, R&D, general operations and talent recruitment.
In October last year, InventChip secured several hundred million yuan from A+ and A++ rounds of financing, jointly led by Lightspeed China Partners, CMG-SDIC Capital and Xiaomi. In just a few months, the firm has once again received investment from leading new energy vehicle firms, indicating that its independent chip products and technologies have become highly regarded in the industry.
InventChip focuses on the field of SiC semiconductors. It was established in Shanghai Lingang Special Area in 2017 and is committed to developing SiC devices, drives and control chips and modules.
After three years of in-depth R&D, the company has become the first in China to independently develop and master 6-inch SiC MOSFET products and process platforms.
On September 11, 2020, InventChip’s 1200V 80mohm SiC MOSFET product with completely independent intellectual property rights passed the JEDEC certification. It then became a major industrial-grade SiC MOSFET power device manufacturer in China.
InventChip’s products have successively entered the industrial and automotive electronics market, and are gradually shipping in larger quantities. Its SiC MOSFETs have now accumulated more than 400,000 mass production shipments.
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In addition, a series of new products have been released. The firm’s SiC production line is delivering products in a wide range of fields such as switched-mode power supply, electronic control and automotive electronics, with its silicon carbide brand awareness increasing gradually.
Amid the context of the Chinese government’s plan to achieve national carbon peak and carbon neutrality in coming decades, industries such as new energy vehicles and integrated optical storage and charging are seeing a new round of opportunities. SiC semiconductors are expected to become a key factor in the development of new energy industries with higher efficiency and performance.
According to Yole’s market forecast, the application of SiC devices will reach $10 billion in 2030, showing a rapid growth trend. The report “Digital Power 2030” released by Huawei predicts that in 2030, the penetration rate of SiC in photovoltaic inverters will increase from its current 2% to over 70%, and the penetration rate in charging infrastructure and electric vehicles will also exceed 80%. Communications and server power supply will be fully promoted and applied.
InventChip will continue to invest in SiC technology and will steadily push forward the transformation of SiC integrated device manufacturers, with the turn-key chip solution supplier strategy serving as the core.
