Luntek Technology Bags Hundreds of Millions of Yuan in Round-C Financing
On July 27, Hangzhou-based Luntek Technology announced its completion of round-C financing, led by Addor Capital. The funds are mainly to be used for R&D investment, production expansion and equipment procurement.
Luntek was established in May 2010. It is mainly engaged in third-party independent testing and technology development services for integrated circuits, and it provides high-end testing services including SoC, storage, sensors and RF. The company has a complete microelectronics design and application system development environment, industrial IC test center, high-tech enterprise research and R&D center, and independent R&D intelligent hardware chips and circuit test platform.
In September 2021, Luntek completed a round B of strategic financing, obtaining support from industrial strategic capital institutions such as Willsemi, Xianyun (Shanghai) Capital, Hanggao Kechuang, Base Company and Tianwen Fund.
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In 2021, Luntek’s wholly-owned CoreCloud (Hangzhou) Semiconductor invested 300 million yuan ($44.4 million) in the full-line mass production of a high-end chip testing base. In July 2021, it signed a strategic agreement on semiconductor construction with the Zhuji Municipal Government, planning to invest a total of 1 billion yuan to build a leading international high-end chip packaging and testing service platform. On November 30 of the same year, it completed the topping out of the main building construction and proceeded to the stage of comprehensive import of high-end semiconductor cleanroom decoration and advanced engineering equipment.
In addition, on July 1 this year, Luntek announced to jointly release a solution for training talent, integrating production and education of integrated circuits with Alibaba Cloud. The two parties will focus on the layout in ecological cooperation of integrated circuits. Luntek will make every effort to build a modern integrated circuit industry talent training ecosystem, and will cooperate with Alibaba Cloud, T-Head and other leading enterprises to build an ecological platform for integrated circuit industry training.
