【Member News】GAREN SEMI Successfully Completed Nearly 100 million yuan Pre-A Round of Financing and Reached Strategic Cooperation with the Bank of Hangzhou

      On the afternoon of August 6, the sun was blazing, and the lotus fragrance was flowing in Hangzhou. The bank of the Qiantang River ushered in a grand event of technology and finance interweaving - Hangzhou GAREN SEMI Co., LTD. Pre-A round financing and strategic cooperation signing ceremony. This celebration is not only an important milestone in the development of GAREN SEMI, but also fully demonstrates the broad prospects for the deep integration of scientific and technological innovation and financial capital.

      Since its establishment in September 2022, GAREN SEMI has quickly won extensive attention and praise in the industry for its in-depth cultivation in the field of ultra-wide band gap semiconductor Gallium Oxide single-crystal materials. From the successful growth of single crystal by 6-inch casting method to the breakthrough of 3-inch wafer-level (010) substrate preparation technology, GAREN SEMI has made a series of remarkable technical achievements in just over a year, not only filling the domestic gap, but also contributing to the development of the global semiconductor material field. Behind these achievements is the crystallization of the tireless efforts and wisdom of the GAREN team, and the firm belief that the company is full of confidence in the future.

      Today, the company ushered in a historic moment -- it successfully obtained nearly 100 million yuan Pre-A round of financing. This round of investment was led by JZ Capital and co-invested by Puhua Capital. The injection of this round of financing funds is not only a high recognition of the company's technical strength and market prospects, but also provides a solid financial guarantee for the company's future development. The company's angel round investment institutions Lanchi Ventures, Yuquan Capital, Yiling Capital were present to witness the financing signing ceremony.

      At the same time, with the signing of the strategic cooperation agreement with the Bank of Hangzhou, the company will further deepen the cooperation with financial institutions, jointly explore the new model and new path of the deep integration of science and technology and finance, and inject new vitality into the sustained and rapid development of the company.

      At the ceremony, many leaders and guests delivered enthusiastic speeches.

      Ye Jianhong, Chairman of Xiaoshan District CPPCC, spoke highly of the achievements made by GAREN SEMI in scientific and technological innovation, and said that Xiaoshan District will, as always, support the development of scientific and technological innovative enterprises and provide broader development space and quality services for the majority of enterprises.

      Yu Wanchang, deputy director of the Administrative Committee of Xiaoshan Economic and Technological Development Zone, emphasized the important role of scientific and technological innovation in promoting the high-quality development of regional economy, and hoped that GAREN SEMI could continue to play a leading role in the industry and make greater contributions to the scientific and technological innovation cause of the development zone and even Xiaoshan District.

      Academician Yang Deren, Academician of Chinese Academy of Sciences and chief consultant of GAREN SEMI, deeply analyzed the broad application prospect and market potential of Gallium Oxide materials, and expressed high expectations for the strategic cooperation between GAREN SEMI and Bank of Hangzhou. He believes that through close cooperation between the two sides, we will be able to jointly promote the industrialization process of Gallium Oxide materials and devices, and inject new impetus into the development of related industries.

      Chairman of JZ Capital，Han Hualong said: "GAREN SEMI is a technology-leading company in the field of key materials, and Gallium Oxide, as a fourth-generation semiconductor material, is a key" choke "material, which also provides strong support for China in the global competition in the field of science and technology. As a first-class investment company deeply engaged in the domestic high-tech industry, JZ Capital has invested in a number of high-tech enterprises, deeply engaged in Zhejiang, and attracted a large number of science and technology innovation projects for Linping District of Hangzhou, Changxing of Huzhou, Jinhua Pujiang and other places, bringing tens of billions of output value to local governments. In the process of contact with Academician Yang and Prof. Zhang Hui, we deeply understand the importance of Gallium Oxide materials in the semiconductor field, we are willing to work with GAREN SEMI, jointly carry the banner of China's scientific and technological development, we firmly believe that under the leadership of Academician Yang and Prof. Zhang Hui professional team, GAREN SEMI can definitely become a world leader in wide band gap semiconductor materials company."

      Chun Jiang, managing partner at Puhua Capital, said: "As a student of Zhejiang University, I am honored to witness the rise of another excellent enterprise founded by my Alma Mater teacher. Wide band gap semiconductor, as an important field in the global scientific and technological competition, will make important contributions to the realization of domestic substitution of key materials. Gallium Oxide, as a leader in this field of materials, has excellent performance and broad application prospects. In the communication with Academician Yang and Professor Zhang Hui some time ago, I also learned that GAREN SEMI is participating in some special research and development plans, which is of great significance in promoting the innovation and performance improvement of a new generation of electronic devices. It is a subversive innovation and cutting-edge technology. GAREN under the guidance of Academician Yang, under the leadership of Prof. Zhang Hui, the first casting method single crystal growth technology, to achieve a technological breakthrough, so we are very confident in GAREN. Puhua Capital will continue to serve the real economy and take the promotion of scientific and technological innovation as its own responsibility. We look forward to working with GAREN to promote the development of China's semiconductor cutting-edge technology and the development of local scientific and technological new quality productivity through this financing cooperation."

      Zhang Jingke, vice president of the Bank of Hangzhou, said: "The GAREN SEMI signed this cooperation is an excellent enterprise that we have come into contact with under the cooperation of the government and venture capital institutions. We understand that GAREN SEMI has completed tens of millions of angel rounds of financing and is about to complete nearly 100 million yuan of Pre-A round of financing, showing the capital market's recognition of its technology and market prospects. After deep contact, we learned that its core technology (Non-EFG Gallium Oxide growth technology) has broken through the international market monopoly on Gallium Oxide materials, and has completely independent intellectual property rights, the founding team has a strong research and development background, committed to promoting the industrialization of Gallium Oxide materials, to solve the country in the field of semiconductor materials "stuck neck" problem. We are optimistic about the long-term development potential of GAREN SEMI and will take this signing as an opportunity to provide more financial support and resource sharing. We will make good use of the existing cooperation foundation, continuously optimize the financial services of science and technology innovation, improve the service efficiency, provide high-quality financial services for the scientific and innovation enterprises represented by GAREN SEMI, accelerate the deep integration of innovation chain, industrial chain and financial chain, actively promote the cultivation and development of new quality productivity, and create a "Hangzhou Bank Model" of "science and technology innovation finance" to help new quality productivity.

      "Fighting alone, one's strength is limited; but when all wills are united, they form a fortress that is unbreakable." Every achievement we have achieved is inseparable from the care and guidance of leaders and governments at all levels, and the trust and support of the majority of enterprises. Here, I would like to express my heartfelt thanks to all the colleagues who support and care about the development of Hangzhou Bank's Kechuang Finance!"

      Zhang Hui, founder of GAREN SEMI, deeply thanked each and every GAREN people who have made hard efforts for the development of the company. He said that it is the team's wisdom, sweat and unremitting efforts to create GAREN SEMI today's brilliant achievements; It is the unity and cooperation of the team and the determination to forge ahead that make GAREN shine and move forward in the semiconductor field. He emphasized that the success of the Pre-A round of financing is not only the recognition of the strength and potential of the company, but also a strong promotion of the future development of the company. This funding will nourish the company's research and development soil like timely rain, accelerate the pace of technological innovation and capacity expansion, and help the company to ride the wind and waves in the fierce market competition and move forward steadily.

      In addition, Xia Ning, technical director of GAREN SEMI, and Jiang Jiwei, marketing director of GAREN SEMI, respectively introduced the company's R & D operation and market expansion to the guests in detail. They said that GAREN SEMI will continue to adhere to the "co-creation, leading, win-win" business philosophy, continue to increase research and development investment, expand market share, to provide customers with more quality products and services.

      We firmly believe that with the joint support and efforts of investors, partners and all sectors of society, GAREN SEMI will be able to achieve more brilliant achievements in the future development and contribute to the vigorous development of China's scientific and technological innovation!