On October 16, 2020, X-EPIC, a leading company in intelligent industrial software and systems for EDA (electronic design automation), announced a 100 million dollar Pre-A round of funding. The round was led by V Fund, with participation from Dashuchangqing and ZhenFund. This round of financing is X-EPIC's first market-based financing, and the funds will be used for the global deployment of X-EPIC's R&D force and breakthroughs in the integration of EDA and cutting-edge technologies.
EDA is a key technology for innovation in the integrated circuit industry and an indispensable core industrial software for designing and manufacturing chips. Chip design companies use EDA software and systems to continuously improve chip R&D efficiency and innovation capabilities. The development of digital economy has created more abundant chip application scenarios and the market demand for EDA has grown rapidly, but high technical barriers have slowed down the development of the technology from automation to intelligence. "X-EPIC", which means to open an epic chapter in the chip industry, was founded in March 2020 by a founding team of ambitious global EDA elites. The company is committed to breaking through the current EDA technology barriers, starting from building a full range of verification EDA systems. By integrating cutting-edge technologies such as next-generation algorithms, machine learning, cloud computing and high-performance hardware systems, the company reconstructs the underlying computing architecture of integrated circuit verification systems, thus creating a new generation of EDA software and systems for the future, empowering and driving the development of the chip industry with new technologies.
Ms. Yan Xiong, co-founder of V Fund, said, "V Fund's mission is to boost innovation and invest in the bright future. EDA. regarded as the mother of chip design, is the most important core technology in the domestic IC industry chain that needs independent innovation and breakthrough. We are very optimistic about the technical strength and market potential of X-EPIC. X-EPIC focuses on digital chip verification, the highest technology threshold in EDA, and is expected to fill the technological gap in China, which is of great strategic importance. The company not only has a well-established R&D team led by scientists, the most scarce top R&D talents in the industry, but also has both top international cutting-edge technology strength and localized market implementation capability."
Ms. Yan Xiong further added, "At the same time, we also see the patriotic sentiment in Chairman Wang Libin and the company's team. They are dedicated to promoting the overall progress of EDA technology in China and are expected to take on the important task of EDA localization."
Mr. Libin Wang, Chairman, Founder and CEO of X-EPIC, said, "We are very pleased to share the same technology ambition and development vision with our investors in this round. We also appreciate the trust they have placed in the X-EPIC team. In the presence of market opportunities in the digital era, the development of China's semiconductor industry relies on accelerating EDA technology breakthroughs and building a complete industry chain. X-EPIC will speed up the development of EDA verification products and systems required for chip design, improve China's EDA tool industry chain, and enhance the efficiency of integrated circuit innovation. The funding in this round will be used for the global deployment of R&D forces and the integration of breakthroughs with cutting-edge technologies."
About X-EPIC
"X-EPIC" signifies the opening of an epic chapter in the chip industry. Founded in March 2020 by an ambitious global EDA elite founding team, X-EPIC is dedicated to the research and development, production, sales and technical services of new-generation EDA intelligent industrial software and systems, helping the development of integrated circuits, 5G, artificial intelligence, cloud services and supercomputing, and providing partners with self-developed, safe and reliable solutions and services.