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Shanghai Zhanxin Electronics Technology Co., Ltd. has recently secured the initial tranche of Series C funding amounting to nearly one billion yuan. This round of financing is spearheaded by the China Development Bank Manufacturing Transformation and Upgrading Fund, with additional support from CICC Capital, Jinshi Investment, and Xinxin. Zhanxin Electronics intends to allocate these funds towards product and process research and development, the expansion of its silicon carbide wafer fabs, and general company operations. The objective is to bolster market competitiveness, fortify the supply capacity of its wafer fabs, and effectively address market demands.
Since its inception in 2017, the company has successfully raised a cumulative total of over two billion yuan in funding.
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