Vital Thin Film Materials Valuation, Funding & Investors

Vital Thin Film Materials is valued at $3.3B as of September 2022.

Last Vital Thin Film Materials valuation

$3.3B

Series B · Sep 2022

Last Vital Thin Film Materials funding round

$641M

Series B · Sep 2022

Cumulative funding Vital Thin Film Materials raised

$830M

across 2 funding rounds

Key investors in Vital Thin Film Materials

Vital Thin Film Materials Overview

About Vital Thin Film Materials

Vital Thin Film Materials is a subsidiary of Pioneer Group based in Nantong, China, specializing in sputtering targets and evaporation materials for vacuum coating applications. It produces high-purity metal, alloy, precious metal, and ceramic forms including discs, granules, and powders for displays, photovoltaics, semiconductors, and optics industries worldwide.


Founded

2017

HQ

ChinaGuangzhou

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$3.3B (Sep 2022)

Vital Thin Film Materials Valuation

Vital Thin Film Materials is currently valued at $3.3B, based on its Series B in September 2022.

The $641M round was led by CICC, with participation from Haier Capital, Greater Bay Area Homeland Development Fund, Minmetals Capital Co, SDIC Unity Capital, Cinda Securities and 6 other investors.

Vital Thin Film Materials' valuation has grown 1.7x from $1.9B at its Series A in January 2022 to $3.3B in September 2022, across 2 priced rounds.

Vital Thin Film Materials valuation by funding round

Vital Thin Film Materials valuation by funding round
DateStageValuation
Sep 2022Series B$3.3B
Jan 2022Series A$1.9B

Vital Thin Film Materials Funding History

Vital Thin Film Materials has raised a total of $830M across 2 funding rounds.

Vital Thin Film Materials' first fundraising round was a $189M Series A in January 2022. The most recent completed round was a $641M Series B in September 2022.

Vital Thin Film Materials funding rounds

Vital Thin Film Materials funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2022Series BCICC (lead); Haier Capital; Greater Bay Area Homeland Development Fund; Minmetals Capital Co; SDIC Unity Capital; Cinda Securities; SK China; Gree Global; Morgan Stanley; Industrial Bank China; CLP fund; China Merchants Securities$641M$3.3BVital Thin Film Materials (VTFM), based in Guangzhou, China, is a researcher, developer, and producer of sputtering targets and evaporation materials for vacuum coatings, serving applications in display, photovoltaic, semiconductor, LED, data storage, and optics. Originally started in 2015 as a joint venture between Vital Materials and Unicore, it became a wholly owned subsidiary of Vital Materials in 2017. The company specializes in high-purity metals, alloys, and ceramics produced and recycled for physical vapor deposition processes, positioning it as a key supplier in high-tech industries including semiconductors, solar energy, and displays. VTFM operates in the advanced materials market, enhancing efficiency in solar cells and semiconductor chips through specialized components. In September 2022, VTFM raised CNY 4.5 billion (approximately $633.9M to $641.1M) in a Series B financing round led by CICC Capital, with participation from China Merchants Securities, SDIC Unity Capital (SDIC), Minmetals Capital (Minmetals Development), Greater Bay Area Homeland Development Fund (Greater Bay Area Homeland Investment), Gree Global (Gree Electric), Industrial Bank (Industrial Bank Group), Morgan Stanley (Morgan Stanley China Equity Investment), and others including China Electronics Technology Fund Management and Huafa Group.
Jan 2022Series ABYD (lead); CICC (lead); China Ming Yang Wind Power Group; TBEA; Sinopec Capital$189M$1.9BVital Thin Film Materials (VTFM), a subsidiary of Vital Materials based in Guangzhou, China, specializes in the research, development, production, sales, and recycling of sputtering targets and evaporation materials for physical vapor deposition (PVD). Its products include high-purity metals, alloys, and ceramics used in applications such as display, photovoltaic, semiconductor, LED, data storage, and optics. Founded in 2015 as a joint venture between Vital Materials and Unicore, it became a wholly owned subsidiary in 2017. In January 2022, VTFM raised over CNY 1,200 million (approximately $188.3 million) in a Series A financing round led by CICC Capital and BYD, with participation from Sinopec Capital, TBEA, and matching the queried investors including China Ming Yang Wind Power Group. The funds were intended for R&D, particularly further investment in sputtering targets. VTFM operates in the thin film materials market, providing advanced materials for deposition in semiconductor, display, and energy sectors. The company continues to innovate, delivering products like Chinese-made G4.5 Ln-IZO targets.

Who has invested in Vital Thin Film Materials?

16 investors have backed Vital Thin Film Materials across its funding rounds, including CICC, Morgan Stanley, Haier Capital, China Merchants Securities, Greater Bay Area Homeland Development Fund and SDIC Unity Capital.

Lead investors include CICC and BYD.


Vital Thin Film Materials Investors

Investors in Vital Thin Film Materials by funding rounds participated
InvestorHQRoundsRoleFirst check
CICCChinaBeijing2LeadJan 2022
Haier CapitalChinaChina1ParticipantSep 2022
Greater Bay Area Homeland Development FundHong KongHong Kong1ParticipantSep 2022
China Ming Yang Wind Power GroupChinaZhongshan1ParticipantJan 2022
TBEAChinaChangji1ParticipantJan 2022
Sinopec CapitalChinaBaoding1ParticipantJan 2022
Minmetals Capital CoChinaBeijing1ParticipantSep 2022
SDIC Unity CapitalChinaBeijing1ParticipantSep 2022
Cinda SecuritiesChinaBeijing1ParticipantSep 2022
SK ChinaChinaBeijing1ParticipantSep 2022
Gree GlobalChinaHefei1ParticipantSep 2022
Morgan StanleyUnited StatesNew York City, NY1ParticipantSep 2022
BYDChinaShenzhen1LeadJan 2022

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Vital Thin Film Materials Competitors

Vital Thin Film Materials competitors include listed companies like Bestechnic, Wingtech, Asmedia Technology and StarPower Semiconductor, and private ones like Silicon Box and Beiyi Semiconductor.

Public and private companies comparable to Vital Thin Film Materials
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BestechnicChinaChinaPublicly listed$526M$93M$3.4B5.1x
WingtechChinaChinaPublicly listed$4.7B($932M)$3.1B2.3x
Asmedia TechnologyTaiwanTaiwanPublicly listed$421M$203M$3.4B8.6x
StarPower SemiconductorChinaChinaPublicly listed$598M$131M$3.1B5.0x
Silicon BoxSingaporeSingaporePrivate--$1B-
Beiyi SemiconductorChinaShenzhenPrivate--$363M-

Vital Thin Film Materials Public Comps

Vital Thin Film Materials is still privately-owned, but its public comps include IPG Photonics, Axcelis, Fangda Carbon New Materials, Fortior Technology, Dexerials, QuantumScape, Carel Industries, OSI Systems, China Zhenhua and Bel Fuse.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
IPG Photonics$1B$82M2.4x2.2x29.0x15.7x
Axcelis$839M$140M3.4x3.3x20.6x19.6x
Fangda Carbon New Materials$526M$54M5.3x5.4x51.5x-
Fortior Technology$115M$36M25.9x18.9x83.7x54.3x
Dexerials$732M$296M4.4x4.3x10.8x10.5x
QuantumScape-($397M)--(6.1x)(9.3x)
Carel Industries$730M$165M4.6x4.1x20.1x19.2x
OSI Systems$1.8B$262M2.1x2.1x14.7x12.5x

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Common questions about Vital Thin Film Materials

When was Vital Thin Film Materials founded?Vital Thin Film Materials was founded in 2017.
Where is Vital Thin Film Materials headquartered?Vital Thin Film Materials is headquartered in Guangzhou, China.
Is Vital Thin Film Materials publicly listed?No, Vital Thin Film Materials is a private, VC-backed company.
What is Vital Thin Film Materials' valuation?Vital Thin Film Materials was last valued at $3.3B in its Series B in September 2022.
How much funding has Vital Thin Film Materials raised?Vital Thin Film Materials has raised $830M across 2 funding rounds.
What was Vital Thin Film Materials' last funding round?Vital Thin Film Materials' last funding round was a $641M Series B in September 2022, led by CICC.
Who are Vital Thin Film Materials' investors?Vital Thin Film Materials' investors include CICC, Haier Capital, Greater Bay Area Homeland Development Fund, China Ming Yang Wind Power Group, TBEA, Sinopec Capital, Minmetals Capital Co, SDIC Unity Capital, Cinda Securities, SK China and 6 others.
Which companies are comparable to Vital Thin Film Materials?Companies comparable to Vital Thin Film Materials include Bestechnic, Wingtech, Asmedia Technology, StarPower Semiconductor, Silicon Box and Beiyi Semiconductor.

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