Semiconductor Company IC Bench Completes Pre-A Round of Financing

IC Bench, a semiconductor technology company, announced on August 19 that it had completed the pre-A round financing, led by Intel Capital, and followed by Primarius and Lenovo Capital and Incubator Group.

Founded in October 2020, IC Bench is committed to the independent innovation of EDA software and chips. Previously, it was funded by Sequoia China Seed Fund and Lenovo Capital and Incubator Group.

IC Bench’s team consists of experienced semiconductor and electronic design automation (EDA) experts. Within one year of its establishment, IC Bench was able to design and manufacture several SoCs based on RISC-V, demonstrating the superiority of its methods and tools.

IC Bench’s goal is to enable customers to progress from new product ideas to working products faster than currently possible. It achieves this by bridging the divide between chip concept and chip volume production. When its customers need customized chips to advance their products and control their supply chain, it has developed new methodologies to enable this transformation.

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According to Gartner‘s latest forecast, global semiconductor revenue is expected to increase by 7.4% in 2022, which is lower than the forecast of 13.6% in the previous quarter. Richard Gordon, Practice Vice President of Gartner, said that although the chip shortage is being alleviated, the global semiconductor market is entering a weak period which will last until the end of 2023 when revenue is expected to drop by 2.5%. However, Gordon believed that, with the growth of electric vehicles and automated driving, the semiconductor content in each car will increase, so the automotive electronics field will continue to achieve double-digit growth over the next few years.