
SiCarrier, a Chinese chip equipment manufacturer with reported close ties to Huawei, is seeking $2.8bn in its first fundraising round, reported Reuters citing two individuals familiar with the matter.
The Shenzhen city government-owned startup, founded in 2021, aims to expand its client base and establish a more prominent presence within the industry.
SiCarrier is also looking to become China’s key provider of chipmaking equipment, surpassing competitors like Naura and Advanced Micro-Fabrication Equipment China (AMEC), according to four sources with knowledge of its plans.
One source noted that Shenzhen government is aiming to sell around 25% of a SiCarrier unit at an estimated valuation of 80bn yuan ($11bn).
The unit reportedly excludes the company’s lithography-related assets. The name of the unit has not been disclosed.
The fundraising is expected to conclude in the coming weeks, with proceeds largely allocated for research, the report said.

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By GlobalDataAccording to two sources, the funds raised will be directed primarily towards research and development.
State-owned enterprises, state funds, and domestic venture capital and private equity funds have shown interest in this potential investment.
SiCarrier did not comment on the fundraising plans, and neither did the Shenzhen government.
At the Semicon China trade show in March 2025, the company showcased 30 chipmaking machines named after Chinese mountains.
According to two sources, most of the company’s equipment is still in development and not yet ready for mass production.
SiCarrier is also investing in AI-based technology for wafer defect detection, a method aimed at improving chip production yields.
Industry insiders suggest SiCarrier originated from a Huawei unit focused on semiconductor tools.
Although some Chinese foundries have acquired SiCarrier products in support of the domestic initiative, three sources indicated concerns remain about potential risks to trade secrets, particularly involving Huawei.
Late in 2024, SiCarrier was added to the US export control list due to its alleged links to Huawei.