X-Times Design Automation Co., LTD (XTIMES-DA), a prominent player in Electronic Design Automation (EDA), announced the successful closure of its Series B financing round today. The funding was spearheaded by NRL Capital and Vertex Growth, both leaders in venture capital and investment management. This infusion of capital aims to enhance the company's research and development (R&D) capabilities and foster expansion into new markets while strengthening its workforce with top-tier EDA professionals.
Advancements and market expansion on the horizon
As industries like artificial intelligence, smart cars, 5G, and cloud computing continue to grow, so does the demand for sophisticated EDA solutions. XTIMES-DA plans to use the new funds to recruit elite talent, further its R&D efforts, enhance product development, and enter new markets. This strategic investment is expected to elevate XTIMES-DA's suite of advanced EDA products and digital chip design solutions, meeting the ever-evolving needs of the industry.
Tony Zhang, a partner at NRL Capital, highlighted the company's rapid production of competitive products and its commercial success with leading domestic chip design firms. “We recognise the importance of sustainable growth in the industrial ecosystem. Additionally, their solution has been commercially recognised by leading domestic chip design companies, highlighting the industry's potential. We believe our participation will further foster growth and innovation in this sector,” said Zhang.
Industry recognition and innovative solutions
James Lee, Managing Partner at Vertex Growth, commended XTIMES-DA for its innovative approach to research and development, which is underpinned by a highly capable team. “XTIMES-DA's EDA products, combines cloud computing and machine learning to provide quality digital chip design solutions which significantly improve the efficiency of chip design for a wide range of applications. Upon witnessing XTIMES-DA early developments, we are convinced of their immense potential to become a leading player in the industry,” Lee explained.
Shi Haiyong, the founder and CEO of XTIMES-DA, expressed pride in his team's achievements, particularly the company's progress within just three years. “Our growing customer base and recognition from top chip designers and manufacturing companies are testaments to our commitment in producing excellent solutions. With the support of NRL Capital and Vertex Growth, we are confident in accelerating innovation to achieve greater results and breakthroughs,” Haiyong stated.
Leading the way in EDA innovation
Since its inception in October 2020, XTIMES-DA has been at the forefront of addressing the challenges associated with efficient and rapid digital chip design. Their product lineup includes several innovative tools such as AmazeSys, AmazeECO, AmazeFP, AmazeFP-ME, and AmazeDRCLite, all designed to enhance the digital back-end EDA processes. The company also offers IndustrialLM, a software license management platform that integrates distributed computing and machine learning with traditional EDA tools to boost product intelligence and efficiency.
XTIMES-DA has not only made significant strides in product development but has also earned accolades for its contributions to the industry, including the ‘2023 China IC Design Awards – Breakthrough EDA Technology Company' and the ‘2024 China IC Design Awards – Innovative EDA Company'. Additionally, it was named among the top 10 EDA companies in the China IC Design Fabless 100 ranking by AspenCore Shanghai this year.
