Engitist Nabs CNY Tens of Millions Series A Financing
COVID-19 and China
Image credit: Liam Briese/Unsplash

Engitist (匠岭半导体) announced that it has completed a Series A financing worth CNY tens of millions, invested by Shenzhen High-tech Investment, Shenzhen Zhengxuan Investment and Pengrui Group. 

This round of financing will be mainly used for new product development, mass production and new market expansion.

According to data released (in Chinese) by SEMI in 2018, 75% of the global process control and measurement equipment market is occupied by the top three companies, including KLA (52%, KLAC:NASDAQ), Applied Materials (12%, AMAT:NASDAQ) and Hitachi High-Technologies Corporation (11%, 6501:JP).

By now, the firm's main products have won orders from domestic and international customers. As a semiconductor testing equipment supplier in China, Engitist is likely to benefit from the localization of the semiconductor industry.

Editor: Luke Sheehan
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