Kaiyuan Communications Technology (Xiamen, China), an RF chip startup that trades as EpicMEMS, has raised hundreds of millions of yuan in a Series B of equity financing.
One hundred million yuan is worth approximately US$14 million. In March 2021 EpicMEMS completed its Series A round of financing at 300 million yuan (at the time worth about about US$45 million). This was followed by a Series A-plus round in May 2022 (see EpicMEMS raises funds for 5G RF filters). This means that EpicMEMS has raised at least US$100 million in the last three years.
The Series B round is worth at least US$28 million and is intended to accelerate the domestic replacement of RF front-end chips in China. The round was led by Xienuo Investment, with participation from Hongshi Capital, Innovation Capital, and Paradise Silicon Valley. The company said that it would use the funds to broaden its filter product range and increase shipments.
Founded in Xiamen City in 2018, EpicMEMS currently has an R&D and operational center in Zhangjiang, Shanghai, and sales and customer support centers in locations including Beijing, Shenzhen, Xi’an and Taiwan. The company claims it has become the provider of bulk acoustic wave (BAW) filters in China. Its products are used in mobile phones, tablets, Internet of Things, China Netcom and other fields.
As well as producing the Silicon Leopard range of bulk acoustic wave filters it sells the Hummingbird range of surface acoustic wave receiving modules and the Phoenix series of transmitting module products.
Since its formation in 2018 and up to December 2023, the company has shipped more than 900 million chips, of which more than 150 million filter duplexers have been shipped to Samsung. EpicMEMS’ SiliBAW Silicon Leopard BAW filters have been used by Samsung, Motorola, Transsion, TCL, Xiaomi, Oppo, Vivo, Realme and ZTE, the company said.