China-based semiconductor wafer manufacturer FerroTec has received $511m in a series B round featuring communications equipment producer Yangtze Optical FC (YOFC), DealStreetAsia reported yesterday, citing a company statement.
State-owned investor Capital Operation co-led the round with Sunic Capital and it included Bocom International Holdings and CCB International, on behalf of financial services firms Bank of Communications and China Construction Bank.
SDIC Chuangyi, a subsidiary of State Development & Investment Corp (SDIC), also took part in the round, as did FTZ Fund, China SME Development Fund, Orient Securities Capital Investment and China International Capital Corporation’s CICC Capital unit.
FerroTec produces semiconductors, automotive electronics, medical devices and other industrial equipment and components. It plans to use the funding to reach a monthly production capacity of 200,000 12-inch silicon wafers by the end of 2022.
The company’s November 2020 series A round raked in $620m from investors including YOFC, FTZ Fund, CICC Capital and Orient Securities Capital Investments, as well as Yunfeng Capital and Oceanpine Capital.
The series A funding came only a few months after FerroTec agreed to buy micro-thermoelectic product manufacturer RMT in July 2020.
