Nanjing Baishi Electronic Technology Co., Ltd., or Best Compound, recently announced that it had garnered more than 100 million yuan from the completed Pre-A round of financing, led by CTC Capital.
This round of financing will be used for factories construction and equipment procurement.
Best Compound is a third-generation semiconductor epitaxial foundry service provider that was founded in August 2019. The company specializes in the production of silicon carbide and gallium nitride related epitaxial wafers, including GaN on Silicon, GaN on SiC, and SiC on SiC.
Since December 2019, after the company had raised 50 million yuan from its angel round of financing led by CTC Capital, Best Compound has been speeding up the constructions of various projects. Its dust-free plant construction project, which started on August 15, 2020, is expected to start operations by the end of this year.
Best Compound set a goal of completing the sampling of 6-inch SiC epitaxial wafers in the first quarter of 2021, and of completing GaN epitaxial development in the first half of 2021.
The core team of Best Compound comes from a major supplier with more than ten years of experience in the development of wide bandgap (silicon carbide, gallium nitride) materials and devices.
They have abundant experience in the industry and are familiar with the market and customer needs, which facilitates the company in both the supply chain and customer-side channels.