China's Hongxin Gas raises hundreds of millions of yuan in Pre-B round

What's the deal? Hongxin Gas (Shanghai)Dealroom has a profile for this one. Try Dealroom → has closed a Pre-B round worth several hundred million yuan. Jian'an No.1 FundDealroom has a profile for this one. Try Dealroom → — set up by Jiantou Investment and the Anhui New Materials Industry Theme Investment Fund — led the round. Wuhan Optics Valley Financial Holding, Yankuang Capital, GoertekDealroom has a profile for this one. Try Dealroom →'s Tongge Venture CapitalDealroom has a profile for this one. Try Dealroom →, and Zhongwu Investment joined as co-investors.

What does the company do? Founded in 2019, Hongxin supplies electronic bulk gases to China's chip industry. It offers PPB-grade high-purity gas station solutions for semiconductor wafer fabs and their supply chains.

What's the money for? Proceeds will go to core technology research, key project development, and building out a semiconductor electronic-gas industry ecosystem.

The signal: Electronic gases are a critical input for chipmaking, and China is pushing to localise its semiconductor supply chain. Backing from state-linked and industrial investors points to continued domestic support for firms filling gaps left by foreign suppliers.

Read more: sohu.com

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