On June, the 7th, 2021, X-Times, an EDA digital implementation solution provider, announced the completion of hundreds of millions of dollars in Pre-A round of financing. The financing was led by V-Fund, Sequoia, Gaorong Capital and Green Pine Capital, with participation from ZhenFund. The company will recruit more highly talented specialized personnel and new-tech experts to strengthen its existing team which is already armed with world-class R&D capability. X-Times will keep up its innovative R&D and accelerate the productionalization of the new generation digital implementing EDA technologies.
The transformation of the digital economy society requires strong technical as its base. Integrated circuit are fundamental to achieve technology-led development. And Electronic Design Automation is the upstream of the integrated circuit industry chain. It is necessary throughout the entire process of the chip formation, playing a key role in the production of chips. EDA innovation will produce for integrated-circuit-relate fields that are in need of mass amounts of chips, such as artificial intelligence, intelligent cars, 5G, cloud computing and intelligent cities. The process would help the design and production of more powerful chips.
Chairman and CEO of X-Times, Mr. Haiyong Shi, said, “Technology innovation is the spiritual core and driving force of X-Times. We are steadily advancing our technical implementation and we will keep an open mind to new elements that we’ve tested out and integrate them with our newest EDA products aiming to improve it in terms of performance and automation. There is a high barrier to digital implementation of EDA which makes the persistent efforts from our teams as well as the joint assistance of partner forces necessary. X-Times will gather the efforts of various parties, recruit highly talented specialized personnel, keep up our effort and strive to surpass the present industry limit.”
Ms. Xiong Yanpin, co-founder of V-Fund, said, “The mission for V-Fund is to assist innovation and invest in the future. We introduce new technology into the traditional EDA technology and improve it from the very basis. This is a huge innovation extension based on top of a high-difficulty technology. Only in this way, can we produce products with ever higher vitality. We are more than impressed by the way of X-Times's new technological integration and we believe that innovative products will definitely lead the future."
Prior to this round of financing, X-Times has completed angel financing invested by Nanjing Jiuyuanchuxin VCFund, Dashu Changqing, Evergreen, Hefei Huazhi Future Technology and Zhuhai Pengheng Technology. The angel investors have a very thorough understanding of the EDA business with full recognition of its importance to the industry. They are very optimistic about its future development.
X-Times Design Automation Co., LTD gathers the world's first-class EDA technology and R&D elites and focuses on the innovation of a new generation of digital chips with EDA technology and providing design solutions for high-end digital chip, which can significantly improve the efficiency of chip design, and help to achieve efficient mass production of chips in one take. These chips will be applied in many rapid developing integrated circuit industries, such as artificial intelligence, intelligent cars, 5G, cloud computing, etc., and escorting their process of development.