XTIMES-DA Raises Series B Round

May 28, 2024 - X-Times Design Automation Co., LTD (“XTIMES-DA”), a leading provider of advanced digital implementation Electronic Design Automation (EDA) products, today announced that it has closed a Series B funding round. The round was led by NRL Capital, an investment and fund management platform, and Vertex Growth, a leading growth-stage venture capital fund.

With rapid advancements in artificial intelligence (AI), smart cars, 5G and cloud computing, growing demands for EDA are on the rise. The strategic investment aims to propel XTIMES-DA’s advanced EDA products and high-end digital chip design solutions to the next level to fulfil the evolving industry demands. XTIMES-DA will use this funding to strengthen their organisational capabilities by hiring more elite EDA talents, expand its R&D capabilities, enhance product development, and fuel new market entries.

Mr Tony Zhang, Partner of NRL Capital, said, “We recognise the importance of sustainable growth in the industrial ecosystem. As an emerging leader in the industry, XTIMES-DA has successfully produced competitive and outstanding products that rival their international peers within a short period of time. 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.”

Mr James Lee, Managing Partner of Vertex Growth, said: “Technology is only as good as the people behind it. What deeply impressed us was XTIMES-DA’s progressive research and development concepts driven by a team with excellent capabilities to turn concepts into tangible results. 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's early developments, we are convinced of their immense potential to become a leading player in the industry.”

Regarding their latest fundraise, Mr Shi Haiyong, Founder and CEO of XTIMES-DA, said, “For a tech company to achieve this level of success in 3 years is no easy feat. I am immensely proud of my team’s focus and dedication in developing products that meet the needs of our customers. 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.”

XTIMES-DA’s industry-leading products

Founded in October 2020, XTIMES-DA seeks to solve the challenges of efficient and rapid digital chip design by providing cutting-edge digital back-end EDA products and digital implementation solutions. Driven by the increasing need for complex functions of smart devices and the rapid development of advanced manufacturing processes, sophisticated EDA platforms are starting to play a crucial role in technological advancement and innovation. XTIMES-DA’s focus on independent R&D of EDA products and high-end digital chip design solutions significantly enhances chip design efficiency, enabling one-time rapid mass production of chips.

XTIMES-DA’s current product lineup includes AmazeSys, a digital placement and routing tool; AmazeECO, a one-stop Engineering Change Order (ECO) tool; AmazeFP, an automated floorplan tool; AmazeFP-ME, an AI-enhanced automated floorplan tool; AmazeDRCLite, a fast closure tool for Design Rule Check (DRC); and other digital back-end EDA products. Additionally, the company offers IndustrialLM, an industrial software license management platform. By combining distributed computing and machine learning technologies with EDA tools, their solutions place a strong emphasis on technical innovation. At the fundamental architectural level, XTIMES-DA seeks to improve product intelligence, efficiency, reliability and ease of use.

XTIMES-DA has also earned industry recognition for its excellence by receiving prestigious awards such as the '2023 China IC Design Awards - Breakthrough EDA Technology Company ' in March 2023.

This year, the company further solidified its reputation by winning the '2024 China IC Design Awards—Innovative EDA Company' and being listed as a top 10 EDA company on the China IC Design Fabless 100 ranking released by AspenCore Shanghai.

About XTIMES-DA

X-Times Design Automation Co., LTD has world-class EDA technical support and R&D talents, and focuses on research and development of the digital implementation EDA platform including a new generation P&R technology in line with the 3S concept (smart, speedy and simple). XTIMES-DA has the capability to deliver high-quality design service for digital SOC chips by the experienced engineer team. The products and services provided can greatly improve the efficiency of chip implementation and help to achieve one-time mass production of chips. The company wishes to build strong partnerships with customers and contribute to their continuous success of innovation on IC chips such as artificial intelligence, smart cars, 5G, cloud computing, etc.

Learn more at www.xtimes-da.com

About Vertex Growth

Vertex Growth is dedicated to partnering with exceptional entrepreneurs and promising companies on the cusp of growth. The firm provides expansion capital to realise the companies’ vision of creating a category champion that is enduring and transformational. Part of the Vertex global network of venture capital funds, Vertex Growth can leverage on a broad view of innovation across the world and capture significant value arising from the Vertex eco-system of portfolio companies, partners and investors.

For more information about Vertex Growth, please visit https://vertexgrowth.com

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Media Enquiries

Marketing Dept., XTIMES-DA
marketing@xtimes-da.com

Bernice Ong, Vertex Holdings
communications@vertexholdings.com

H/Advisors Klareco on behalf of Vertex Holdings
klareco-vertex@h-advisors.global

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