(Yicai Global) Dec. 9 -- X-EPIC, a less than a year-old Chinese chip design software developer, has completed its over CNY200 million (USD30.7 million) Series A round of funding, led by Gaorong Capital.

New investors such as 5Y Capital, formerly known as Morningside Venture Capital, and Shanghai Yuhan participated in this round, the Paper reported today, citing the Nanjing-based maker of electronic design automation software.

Existing shareholders such as Yunhui Capital, Gaoling Tianjin Venture Capital, Zhen Fund, Dashu Evergreen, and Huazhuo Investment also chipped in.

Gaorong Capital expects X-EPIC to achieve breakthroughs in EDA 2.0 as it has developed advanced products in just a few months, said Yue Bin, founding partner of the venture capital firm. X-EPIC was established in March 2020.

EDA 2.0 can make the chip innovation process easier, said Chief Executive Wang Libin. The firm debuted its adaptation solution EpicElf and a new simulation technology in November and the latter pioneers in supporting domestic computer frameworks.

The proceeds of the latest funding will be used to attract global talent, and to support the company's research and product development, the startup added.

Editor: Emmi Laine