Respective endowments for University of Macau and Macau University of Science and Technology have contributed to a series A round.
Xin Yaohui Technology, a China-based semiconductor technology producer also known as AkroStar, has raised RMB500m ($78m) in a series A round backed by University of Macau Development Foundation and Macau University of Science and Technology Foundation.
Gaorang Capital led the round, which also attracted construction conglomerate Da Heng Qin Group, 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 systems-on-chips (SoC) manufacturers.
The series A financing has been allocated to hiring additional staff, technology development and research and development activities.
AkroStar has now raised $155m altogether, it said.
AkroStar disclosed $62m in angel and pre-series A funding in February 2021, although a breakdown of the two figures could not be ascertained. The pre-series A round was co-led by GL Ventures, Sequoia China Capital, V Fund, 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 angel round investors Zhenfund and Da Shu Changqing.
