Crystalline Material Supplier Boya Advanced Materials Bags CNY 400 Million in Series D

Technology Author: Yanbing Gao Aug 31, 2022 03:52 PM (GMT+8)

Meishan Boya Advanced Materials, an advanced crystal material supplier, harvests more than CNY 400 million (USD 58 million) in a Series D financing round, led by Fujian Venture Investment Management.


Meishan Boya Advanced Materials Co., Ltd.(Chinese:博雅新材), an advanced crystal material supplier, announced the closing of a Series D financing round worth more than CNY 400 million (USD 58 million), led by Fujian Venture Investment Management and followed by Changjiang Securities, Sichuan Development Holdings, Shenzhen Investment Holdings and Ocean Capital, news portal reported.

The fund from this financing round will be used for the production of third-generation semiconductor materials such as silicon carbide, high-end optical processing business and high-performance lithium tantalate crystal materials. The company will make full use of its core technology advantage in the whole process chain, its cost advantage and scale effect to accelerate its development and build itself into a global leading unicorn enterprise in the crystal new material industry.

Boya Advanced Materials, founded in 2016, is professional in R&D, growing, processing and marketing artificially synthetic crystal materials high technology company. It has abundant product categories in scintillation crystal & laser crystal and Single crystal fiber materials and offers professional solutions for scintillation crystal growth, treatment and array assembly. The company has a full production capacity of producing and manufacturing all the scintillation crystals/materials and providing customers with plates, columns and arrays. Its products are widely used in industry, medical, beauty, detection, high energy physics, safety inspection and other fields.

Lutetium yttrium silicate is one of the first sub-strategic materials of the national new materials. Boya New Material now accounts for more than 60% of the market share of lutetium yttrium silicate crystals required for PET-CT equipment in China and more than 90% of the demand for non-clinical PET-CT equipment crystals abroad.

Other players in the crystalline material include Shin-Etsu, Soitec, Castech (Chinese: 福晶科技), JSG(Chinese: 晶盛机电) and Sinocera (Chinese: 国瓷材料).