China-based semiconductor technology developer Leuven Instruments has secured RMB100m ($14.1m) in a series B round that included furniture retailer Red Star Macalline, China Money Network reported on Wednesday.
The round was led by CAS Star on behalf of the Chinese Academy of Sciences, and it also featured investment manager C.Domain Capital, investment firm Xianghui Capital and Zhongji Investment, a joint investment group that focuses on China’s Hebei province.
Leuven provides equipment that facilitates the production of memory and sensor products, including metal-etchers, anti-contaminating systems for metal, and a porosimeter which can analyse an object for levels of porosity.
The company was founded in 2015 as a joint venture between the Chinese Academy of Sciences’ Institute of Microelectronics and an entity known as Belgian Leuven Instruments which is likely connected to university KU Leuven.
The series B financing has been allocated to increasing headcount, further development of Leuven’s equipment and the expansion of its market presence. Leuven, which maintains a sales office and research and development laboratory in Belgium, has not revealed details of earlier funding.
Image courtesy of Leuven Instruments.
