Wuxi Leapers Semiconductor Co., Ltd., a Chinese manufacturer of high-performance silicon carbide (SiC) modules, has announced its securing of tens of millions of yuan in an A+ round of financing from New Alliance Capital and SoftBank China Venture Capital, 36Kr reported on Friday. These funds are to be used for R&D capability and promotion in the electric vehicle market.
Since its establishment in 2019, Leapers Semiconductor has specialized in the development, production and sales of high performance SiC and IGBT power modules, and has provided complete solutions for miniature, lightweight and highly efficient controllers, mainly based on innovative packaging materials and technologies. These solutions are applied in new energy vehicles, hydrogen vehicles, photovoltaics and other industries.
The firm has released core products in SiC and IGBT. Ding Xuanming, co-founder and COO of the company, said the company has successfully mass produced IGBT modules for charging piles, industrial inverters and commercial vehicles, as well as SiC modules for electric heavy trucks, hydrogen fuel cell commercial vehicles and photovoltaics in 2021.
Regarding production, the company’s packaging foundry in Japan was operational this year, mainly working to satisfy overseas demand for higher quality products.
Market demand for power semiconductors has been growing rapidly in recent years, driven by the growth of new energy vehicles, photovoltaics, power grids, industrial control, wind power, aerospace and other industries. Especially in the high-end application market, third generation power semiconductor SiCs are increasingly favored by industries and capital markets by virtue of its high efficiency, high reliability, small size and lightweight quality.
Market research firm TrendForce forecasts that from 2020 to 2025, the market for SiC will grow from $680 million to $3.39 billion, a compound annual growth rate of 38%.