Advanced packaging substrate supplier **XinAi Technology** (芯爱科技) has raised over **500 million yuan** in its Series A1 funding round.

Xin'ai Technology (Nanjing) Co., Ltd. (hereinafter referred to as "Xin'ai Technology"), a leading domestic supplier of high-end IC packaging substrates, recently announced the completion of its Series A1 funding round exceeding RMB 500 million. The round was led by Huali Capital, with participation from Junhai Innovation Capital, Xiamen Lianhe Capital, Jiangbei New Area Development Fund, TEDA Venture Capital, and Xingrui Capital. Existing shareholders including Kunqiao Capital, WY Capital, and Gaorong Ventures also continued to increase their investments. Gaorong Ventures had previously invested in Xin'ai Technology's Pre-A round in 2021 and participated again in this round. The proceeds will be used for production line construction and R&D investment.

Building on Independent R&D to Provide Comprehensive Packaging Substrate Services

Packaging substrates are a critical carrier in the chip manufacturing and testing process, providing support, heat dissipation, and protection for chips while enabling electrical connections between chips and PCBs. Currently, packaging substrates have become the largest raw material by sales value in packaging materials, accounting for over 50% of the total, with the global market exceeding $15 billion in 2022. With the rapid growth of 5G, automotive electronics, AI, HPC, and data centers, demand for high-end packaging substrates has surged. However, domestic Chinese packaging substrate companies currently lack competitive advantages in technology and cost, with localization rates remaining below 5% for years.

Founded in May 2021, Xin'ai Technology focuses on comprehensive packaging substrate services spanning R&D, design, production, testing, and sales, covering both BT and ABF substrates. Its product portfolio includes Coreless ETS, FCCSP, FCBGA(BT), and FCBGA(ABF). The company boasts a rare, fully-formed team of high-end substrate experts and is committed to independent R&D, breakthroughs in core technologies, and achieving domestic substitution and supply chain autonomy in the high-end substrate sector, with the goal of becoming a leading innovator in domestic high-end substrate development.

Assembling a Multi-Disciplinary Expert Team to Accelerate High-End Packaging Substrate Production

The company's manufacturing facility is located in Nanjing's Pukou Economic Development Zone, where it has built a high-precision, high-cleanliness, highly automated, and highly intelligent packaging substrate production park. Phases I and II cover a combined area of 415 mu (approximately 276,667 square meters), with initial total investment exceeding RMB 4.5 billion and an annual production capacity of up to 1.45 million high-end substrates. The products will be widely used in consumer electronics, data centers, artificial intelligence, automotive electronics, and other fields.

The company is accelerating its production line construction. Its first plant was topped out in just 59 days, with equipment installation beginning four months later. Currently, equipment installation and calibration have been completed, and the facility has smoothly entered the trial production phase.

Xin'ai Technology stated: "Xin'ai Technology has assembled a multi-disciplinary expert team spanning IC design, substrate R&D, and manufacturing, with deep understanding of the pain points in the substrate market and future industry demands. We are committed to becoming the substrate solution provider that best understands IC design companies. This funding round has once again received strong support from multiple well-known semiconductor industry funds and financial investment institutions. We will work hand in hand with both new and existing shareholders to continue investing in the R&D and manufacturing of high-end packaging substrates, providing our customers with trustworthy high-quality products and technical services."