Semi-Tech, a company that offers technology infrastructure to the semiconductor industry, has raised CNY500m ($72.3m) in a Series C funding round, reported DealStreetAsia.

Matrix Partners China led the round, which saw participation from the Yangtze River Delta G60 Science & Technology Innovation Fund.

Other domestic entities including Camel Equity Investment Fund and Hangzhou Lion Electronics, a semiconductor wafers and chip components producer also joined the round alongside existing investor Skyview Fund.

With the latest investment, Semi-Tech achieved a post-money valuation of more than CNY6bn ($868m).

The Minhang, Shanghai-based company has also commenced fundraising work for a Series C+ round citing strong interest from “multiple well-known investment institutions.”

In addition to the Series C financing, Semi-Tech said that its management team, the company’s controlling shareholders, and business partners had come together to establish a CNY1bn ($144.7m) fund to invest in smart manufacturing software and related hardware.

The fund is aimed at assisting Semi-Tech in boosting investments and M&A across the whole smart manufacturing industry.

It also aims to encourage the growth of a semiconductor software ecosystem.

Semi-Tech provides computer-integrated manufacturing (CIM) solutions.

The CIM solutions, which control the production process, are used by industries including semiconductors, electronics assembly & packaging, manufacturing, new energy, and automobile.

Semi-Tech chairman and CEO Li Gangjiang said: “Moving forward, Semi-Tech will accelerate the upgrade of our fully-automated CIM solutions to better serve plants producing 12-inch-wide silicon wafers.

“We look to equip our solutions with big data and AI technologies to help foundries achieve higher manufacturing efficiency, better yields, and wider production scale while reducing their operating costs. The goal is to surpass foreign equivalents by providing domestic CIM alternatives for chip making.”