Yaohui Technology, the China-based semiconductor technology producer also known as AkroStar, has raised RMB500m ($78m) in a series A round backed by construction group Da Heng Qin.
Gaorang Capital led the round, which also featured University of Macau Development Foundation and Macau University of Science and Technology Foundation as well as Matrix Partners China, Lanpu Ventures, Sequoia Capital China, GL Ventures, V Fund and Panorama Capital.
Founded in June 2020, AkroStar provides intellectual property (IP) tools to chipmakers. IP blocks, in the semiconductor industry, refer to a reusable unit of logic, cell or integrated circuit layout design that is licensed to integrated system-on-chip manufacturers.
The series A financing has been allocated to hiring additional staff, technology development and research and development activities. The company said it has now raised $155m altogether.
AkroStar had previously disclosed a total of $62m in angel and pre-series A funding in February this year, the pre-series A round being co-led by GL Ventures, Sequoia China Capital, V Fund and Gaorong Capital.
Da Heng Qin Group, Green Pine Capital Partners, 5Y Capital and Panorama Capital also took part in the pre-series A round, as did existing investors ZhenFund and Da Shu Changqing.
The original version of this article appeared on our sister site, Global University Venturing.