Domestic First Advanced Semiconductor Composite Substrate Production Line Operational; iSABers Secures Investments from Renowned Institutions

Group News2023-05-26: Domestic First Advanced Semiconductor Composite Substrate Production Line Operational; iSABers Secures Investments from Renowned Institutions

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"Currently, the domestic market demand for advanced semiconductor composite substrate materials, particularly silicon carbide (SiC), far exceeds supply. Major application sectors include new energy vehicles, photovoltaics, and power transmission," according to industry insights. The first-phase production capacity of this line is 30,000 wafers, with plans to expand to 150,000 wafers in the future. Substrate sizes primarily focus on 6 inches, with a roadmap to transition to 8 inches.

Reporter | Chen Mei

Recently, China's first advanced semiconductor composite substrate production line officially commenced operation. Concurrently, iSABers (Tianjin Zhongke Jinghe Electronic Technology Co., Ltd.), a leading enterprise specializing in semiconductor material bonding integration technology, announced the completion of a RMB 220 million A++ round of financing. Investors include the Beijing IC Advanced Chip Fund, Sungrow, Zhike Capital, CCB Investment, Wofu Capital, Zhengwei Capital, Hainan Ruilai, Jucheng Investment, and Tianjin Tianchuang.

Dr. Mu Fengwen, Founder and Chairman of iSABers, stated in an interview with Sci-Tech Innovation Board Daily that the production line's operation fills a domestic gap and effectively addresses critical technology bottlenecks in advanced semiconductor composite substrate materials. The production line is located in Tianjin.

▌Nearly Six Rounds of Financing in Three Years: Resolving Bottlenecks in Advanced Semiconductor Composite Substrate Materials

Prior to the production line's official launch, iSABers maintained a low profile and did not disclose financing news. In fact, before the RMB 220 million A++ round, the company had secured investments from institutions such as Innovalue Partners, CStone Capital, Heqin Capital, Huiyou Capital, Yunqi Partners, Yunhui Capital, SoftBank China, WeHao Capital, XinDongNeng, and Zhengwei Capital, totaling nearly RMB 600 million.

The support from numerous institutions reflects confidence in iSABers' technological breakthroughs and the vast market potential of advanced semiconductor materials. Dr. Mu Fengwen noted that she has dedicated over a decade to researching advanced semiconductor composite substrates, from her doctoral studies to the present.

Similar to many expert-led entrepreneurial teams, Dr. Mu obtained her Ph.D. in Japan and worked in academia before founding iSABers. "Through frequent interactions with industry players, I was deeply influenced by Japanese companies' pursuit of technology and innovation, which ultimately inspired me to return to China and start my own business," she recalled.

Dr. Mu explained that due to her expertise in composite substrate materials, she quickly assembled a team of familiar technical talents. With a clear technological roadmap, iSABers secured financing from Innovalue Partners within six months of its establishment, followed by successive rounds of capital support.

These six rounds of financing over three years underscore investors' confidence in iSABers. Dr. Mu emphasized that with technological breakthroughs and rapid capacity expansion, the company is poised for accelerated growth. "The domestic market demand for advanced semiconductor composite substrate materials, particularly silicon carbide (SiC), far exceeds supply, with significant applications in new energy vehicles, photovoltaics, and power transmission," she concluded.

▌Phase I Capacity: 30,000 Wafers, Future Focus on 8-inch Substrates

Facing the commissioning of this first advanced semiconductor composite substrate production line, Mu Fengwen expressed full confidence, stating that the initial production capacity is 30,000 wafers, with plans to expand to 150,000 wafers in the future. Currently, the substrate size is mainly 6 inches, but the company will transition to 8 inches in the future. "We predict that 8-inch substrates will explode in 3-5 years and become the market mainstream," she said.

Dr. Mu's confidence stems from technological maturity and cost reduction. "Take silicon carbide as an example. The main method to obtain materials domestically is still the 'crystal growth' method. However, this method is highly energy-intensive and requires temperatures as high as 2,000°C to 'grow' the material. More importantly, the 'crystal growth' process has poor stability and low yield, resulting in scarce high-quality silicon carbide materials and high prices."

The core reason for iSABers' rapid production is technological innovation. "The company uses the 'composite' principle to bond high-quality and low-quality substrate materials, fully utilizing both high-quality and low-quality materials. This method effectively reduces material costs and ensures the supply of high-performance, low-cost substrate materials," Dr. Mu explained.

By independently manufacturing each layer of material and final adjustment, iSABers has overcome the challenge of material acquisition. From the perspective of final products, composite substrates can achieve better performance, lower costs, and higher yield rates. Regarding the transition from 6-inch to 8-inch substrates, Dr. Mu is very confident: "If using the 'crystal growth' method, the difficulty of 8-inch is geometric. However, using the 'composite' method, the process from 6-inch to 8-inch is the same, only requiring adjustments to the equipment. Moreover, it does not involve temperature effects, and many processes are completed at room temperature."

▌Post-Mass Production Cost Reduction and Future IPO Plans

The mass production of the first line is just the first step. According to Mu Fengwen's roadmap, the next phase will focus on optimizing every 环节，including supply chain processes, to further reduce overall costs. As product scale expands, the company aims to offer more competitive pricing to customers.

Given the explosive growth potential of the industry, Mu Fengwen has harbored ambitions to take the company public since its founding. "Technological innovation is the cornerstone of the composite substrate materials industry. Once technical barriers are overcome, establishing production lines and scaling capacity becomes a natural progression. With robust downstream demand, capacity expansion will accelerate rapidly, and the company's strategic direction is clear," she stated.

Mu plans to meet the SSE STAR Market listing criteria by 2026 and submit IPO applications thereafter. "Our current priority is to rapidly commercialize products and gain broad market acceptance," she emphasized.

Industrial capital investors, including WeHao Capital (Will Semiconductor's affiliated fund), Sungrow, and XinDongNeng, have actively participated in financing rounds, drawn to the company's growth potential and market applications. To date, iSABers' first advanced semiconductor composite substrate production line ranks among the most advanced in China's startup landscape.

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