Chinese EDA hopeful raises $30 million

January 11, 2021 // By Peter Clarke
Chinese EDA hopeful raises $30 million
EDA startup X-Epic Co. Ltd. (Nanjing, China) has raised CNY200 million (about US$30.9 million) in it Series Pre-A and Pre-A+ round of financing.

Investors include V Fund, Great Numbers, ZhenFund, GL Ventures, the venture capital arm of Hillhouse Capital, China Fortune-Tech Capital and Green Pine Capital.

The money will be used to support expansion of R&D and development of EDA tools, X-Epic said.

The company was founded in March 2020 with plans to enter the high-level digital verification and differentiate itself with novel algorithms, machine learning, cloud computing and high-performance hardware systems. This will include logic simulation, FPGA prototyping of circuits, hardware emulation, so-called intelligent verification and formal verification.

The company will reportedly start with a product called EpicElf, an FPGA verification tool, and by providing verification consulting services.

"We are very pleased to share the same technological consensus and development vision with these investors. We are also very grateful to them for their trusts with our team of X-Epic," said Li-Bing Wang, founder and CEO of X-Epic, in a statement. "It is time to breakthrough of EDA technologies and build a complete industrial chain, while facing the market opportunity of the digital era. X-Epic will accelerate the development of EDA verification products and systems demands for chip design," he added.

Related links and articles:

www.x-epic.com

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