Chinese EDA Startup UniVista Raises $164.3 Million

What’s new: A Chinese industrial software startup raised 1.1 billion yuan ($164.3 million) in a series pre-A round as the Chinese government pushes its “Made in China 2025” strategy to make the country dominant in global high-tech manufacturing.

Shanghai UniVista Industrial Software Group, an electronic design automation (EDA) and industrial software solutions provider, disclosed the fundraising Wednesday from investors including IDG Capital, CAS Investment Management, China Automotive Chips Alliance and Feixiang Capital.

The startup, founded in March 2021, previously raised 1.7 billion yuan from investors such as Sequoia Capital China, Shenzhen Capital Group and China IC Fund II, a 200 billion yuan national fund that focuses on China’s integrated circuit industry.

UniVista’s EDA products and solutions assist chipmakers in prototyping, debugging, testing and functional verification. The company hasn’t disclosed any revenue or profit.

The background: The global EDA market is expected to reach $15 billion this year from $10 billion in 2021, according to industrial alliance Electronic System Design. BOC International estimates that the China’s EDA industry is expected to maintain an annual growth rate of more than 20% over the next three years.

Global giants dominate China’s EDA market. California-based Synopsys and Cadence and German-based Siemens EDA had a combined market share of more than 77% by revenue in China in 2020, according to CCID, a market research firm.

Quick Takes are condensed versions of China-related stories for fast news you can use. To read the full story in Chinese, click here.

Contact reporter Denise Jia (huijuanjia@caixin.com) and editor Bob Simison (bob.simison@caixin.com)

Download our app to receive breaking news alerts and read the news on the go.

Get our weekly free Must-Read newsletter.