China's top semiconductor packaging high-end supplier secures tens of millions in financing from Zhejiang | Exclusive from Hardcore Krypton

Text by | Hu Yiting

Edited by | Yuan Silai

Hard Kr has learned that recently, Coreal Technology (hereinafter referred to as "Coreal"), a semiconductor packaging equipment manufacturer, announced the completion of a tens of millions of yuan Series A+ financing round. The investor is Zhejiang Venture Capital, and the funds will be used for product R & D and working capital replenishment. In the same year, it also received strategic financing from CRRC Capital.

Founded in 2014, Coreal focuses on medium - and high - power IGBT/SiC module packaging equipment and provides turnkey solutions. It has more than ten core products such as high - precision pick - and - place machines, fully automatic micron - level pin - inserting machines, and SiC flip - chip bonding equipment, all of which are developed through in - house R & D, with independently controllable core technologies.

IGBT/SiC modules are fully controlled voltage - driven power semiconductor devices with excellent low - energy consumption and high - power characteristics. They are widely used in industries such as 5G communication, aerospace, new energy vehicles, and smart grids.

The global market for power semiconductor module packaging and testing is also growing continuously. According to Yole data, it is estimated that the global packaging and testing market will reach $89.9 billion in 2024, a year - on - year increase of 5%. By 2026, the global packaging and testing market is expected to reach $96.1 billion, and the advanced packaging market will reach $52.2 billion, accounting for 54%.

In 2021, Coreal developed domestic energy - storage - grade and automotive - grade IGBT module packaging equipment, which can package IGBT/SiC chips into modules with specific functions and performance to meet the flexible needs of different customers in different scenarios. The company has multiple core products. Among them, the TP - 3000 - HG series high - speed pick - and - place machine is designed for high - speed placement of SiC module chips. It adopts a modular design as a whole, achieving a placement accuracy of less than 3 microns and supporting the placement of 6 - inch, 8 - inch, and 12 - inch chips.

High - speed pick - and - place machine, image source: the enterprise

The pin - inserting machine is designed for high - speed pin insertion of silicon - based and SiC modules. It uses high - precision 3D vision inspection, achieving a pin - insertion accuracy of 1 micron and being compatible with straight pins, fisheye pins, and special - shaped pins.

Pin - inserting machine, image source: the enterprise

Many of Coreal's products are widely used in emerging industries such as smart consumer electronics, wind power, energy storage, electric vehicles, and high - speed railways. Currently, it has served nearly a hundred high - quality domestic and international customers in the industry, successfully delivering more than 30 intelligent packaging lines with a yield rate of over 99%. Among them, the coverage rate of the company's top customers is 50%, and its current market share reaches 10%, ranking first among domestic turnkey suppliers.

Coreal's revenue has doubled in the past three years. In the next three years, while continuing to expand in the semiconductor packaging industry, the company will also strengthen cooperation with well - known manufacturers, integrate advanced technologies such as large AI models and digital twins, enrich its product line, and enter high - end markets such as advanced packaging, intelligent medical, and automotive electronics.

Investor's view:

Hu Yongxiang, General Manager of Zhejiang Venture Capital, said: "The founding team of Coreal has been deeply involved in the semiconductor packaging field for more than 10 years. With excellent technical strength, keen market insight, and high - quality customer service capabilities, they have successfully developed core process equipment and turnkey solutions for power devices and modules such as IGBT and SiC. Coreal has shown great potential and made important contributions to the localization and full - line automation of semiconductor packaging equipment. We are honored to participate in this financing round of Coreal and will continue to support it. By deepening industrial ecosystem cooperation, we will inject more resources into the enterprise and jointly contribute to the realization of the goal of domesticating China's semiconductor equipment."