X-EPIC Funding, Investors & Competitors

X-EPIC has raised $108M across 3 funding rounds, most recently a $62M Series A in May 2021.

Last X-EPIC funding round

$62M

Series A · May 2021

Cumulative funding X-EPIC raised

$108M

across 3 funding rounds

Key investors in X-EPIC

  • ZhenFund
  • Gaorong Capital
  • GL Ventures
  • V Fund Management
  • Dashu Evergreen
  • Matrix Partners China
  • 5Y Capital
  • Green Pine Capital Partners

X-EPIC Overview

About X-EPIC

X-EPIC is a Nanjing-based company building electronic design automation (EDA) software for the semiconductor industry. Its platform covers hardware emulation, FPGA-based prototyping, formal verification, logic simulation, and system debug and verification in the cloud, applying AI-driven intelligent debugging and compilation to speed up chip verification workflows. The company was named to the Hurun Global Unicorn Index in 2023.


Founded

2020

HQ

ChinaChina

Website

x-epic.cn

Status

Privately held

Customer focus

B2B

Revenue model

Licensing, Subscription

X-EPIC Funding History

X-EPIC has raised a total of $108M across 3 funding rounds.

X-EPIC's first fundraising round was a $15M seed round in October 2020. The most recent completed round was a $62M Series A in May 2021.

X-EPIC funding rounds

X-EPIC funding rounds
DateStageInvestorsRaisedDeal Summary
May 2021Series AYF Capital (lead); Matrix Partners China; Gaorong Capital; GL Ventures; Puluo Capital$62MX-EPIC, a Chinese electronic design automation software and systems company, announced in May 2021 that it had completed a Pre-B financing round of more than RMB 400 million. The round was led by Yunfeng Capital, with Matrix Partners China and Puluo Capital, the investment arm of the China Development Bank equipment fund, taking part alongside existing shareholders including Gaorong Capital. The financing came within months of the company's Series A and A+ rounds, which brought its cumulative funding to more than RMB 1.2 billion. X-EPIC develops EDA tools and intelligent verification systems for chip design, aiming to supply domestic alternatives in a market long dominated by foreign vendors. The company is based in Nanjing and Shanghai and serves chip design houses and system vendors in China. The proceeds were earmarked for product development and talent recruitment.
Dec 2020Series AGaorong Capital (lead); GL Ventures (lead); V Fund Management (lead); ZhenFund; Shanghai Yuhan; Huazhuo Touzi; China Fortune-Tech Capital; Dashu Evergreen; 5Y Capital; Tianjin Venture Capital; Green Pine Capital Partners$31MX-EPIC, a Nanjing-based developer of electronic design automation software for chip design, closed a Series A round of more than CNY 200 million (about $30.7 million) in December 2020. The round was led by Gaorong Capital, with V Fund and GL Ventures also reported among the leads. 5Y Capital, formerly Morningside Venture Capital, and Shanghai Yuhan joined as new investors, and existing shareholders including ZhenFund and Dashu Evergreen took part, alongside China Fortune-Tech Capital and Green Pine Capital. The company was founded in March 2020. It said it would use the proceeds to attract global talent and to support research and product development of its chip design software.
Oct 2020SeedV Fund Management (lead); ZhenFund; Dashu Evergreen$15M-

Who has invested in X-EPIC?

14 investors have backed X-EPIC across its funding rounds, including ZhenFund, Gaorong Capital, GL Ventures, V Fund Management, Dashu Evergreen and Matrix Partners China.

Lead investors include YF Capital, Gaorong Capital, GL Ventures and V Fund Management.


X-EPIC Investors

Investors in X-EPIC by funding rounds participated
InvestorHQRoundsRoleFirst check
ZhenFundChinaBeijing2ParticipantOct 2020
Gaorong CapitalChinaBeijing2LeadDec 2020
Dashu Evergreen--2ParticipantOct 2020
GL VenturesChinaBeijing2LeadDec 2020
V Fund ManagementChinaBeijing2LeadOct 2020
Matrix Partners ChinaChinaBeijing1ParticipantMay 2021
YF CapitalChinaShanghai1LeadMay 2021
Shanghai YuhanChinaChina1ParticipantDec 2020
Huazhuo TouziChinaBeijing1ParticipantDec 2020
China Fortune-Tech CapitalChinaShanghai1ParticipantDec 2020
5Y CapitalChinaChina1ParticipantDec 2020
Tianjin Venture CapitalChinaTianjin1ParticipantDec 2020

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X-EPIC Competitors

X-EPIC competitors include listed companies like Cadence Design Systems, Autodesk, Dassault Systemes and PTC, and private ones like Vinci and Vention.

Public and private companies comparable to X-EPIC
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
VinciUnited StatesSan Francisco, CAPrivate--$1.5B-
VentionCanadaMontrealPrivate$73M-$1.2B16.4x
Cadence Design SystemsUnited StatesUnited StatesPublicly listed$5.3B$1.8B$88B14.3x
AutodeskUnited StatesUnited StatesPublicly listed$7.2B$1.8B$55B6.7x
Dassault SystemesFranceFrancePublicly listed$7B$2.1B$38B5.1x
PTCUnited StatesUnited StatesPublicly listed$2.7B$1.1B$21B8.3x

X-EPIC Public Comps

X-EPIC is still privately-owned, but its public comps include Adobe, Cadence Design Systems, Synopsys, Autodesk, Constellation Software, Dassault Systemes, Hexagon, Unity, PTC and Snap-on.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Adobe$24B$9.3B4.0x3.6x10.2x7.4x
Cadence Design Systems$5.3B$1.8B16.8x14.3x50.3x29.3x
Synopsys$7.1B$2.2B13.3x9.6x42.1x23.0x
Autodesk$7.2B$1.8B7.5x6.7x30.7x16.5x
Constellation Software$12B$2.5B4.9x4.2x22.6x15.5x
Dassault Systemes$7B$2.1B5.3x5.1x17.4x14.5x
Hexagon$6.1B$1.7B4.9x6.0x17.7x16.9x
Unity$1.8B($18M)12.3x10.1x(1254.9x)31.3x

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Common questions about X-EPIC

When was X-EPIC founded?X-EPIC was founded in 2020.
Where is X-EPIC headquartered?X-EPIC is headquartered in China.
Is X-EPIC publicly listed?No, X-EPIC is a private, VC-backed company.
How much funding has X-EPIC raised?X-EPIC has raised $108M across 3 funding rounds.
What was X-EPIC's last funding round?X-EPIC's last funding round was a $62M Series A in May 2021, led by YF Capital.
Who are X-EPIC's investors?X-EPIC's investors include ZhenFund, Gaorong Capital, Dashu Evergreen, GL Ventures, V Fund Management, Matrix Partners China, YF Capital, Shanghai Yuhan, Huazhuo Touzi, China Fortune-Tech Capital and 4 others.
Which companies are comparable to X-EPIC?Companies comparable to X-EPIC include Vinci, Vention, Cadence Design Systems, Autodesk, Dassault Systemes and PTC.

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