The company produced a business plan in 2022 and is looking for investment of around $100 million.

It has, reportedly, got an investment arm of SMIC called China Fortune-Tech Capital (CFTC) to invest in the company plus four Chinese VC companies. 

The leader of the group is Liguo Zhang who worked for Mentor in the US before it was bought by Siemens, and he is joined by three other former Siemens EDA execs including Peilun Chang who is COO of Seida.