# ASH

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ash

- Industry: Semiconductors
- Headquarters: Hefei, China
- Website: www.ashee.com.cn
- Total disclosed funding: $21M
- Latest round: Series B (Oct 17, 2025)
- Investors on record: 11

## About

Founded in 2014 and headquartered in Zhejiang, China, Zhejiang ASH Semiconductor Equipment Co.,Ltd., trading as ASH, is a national high-tech enterprise specializing in Sub-FAB auxiliary systems within the semiconductor and display sectors. Over the years, the company has developed core technologies in exhaust gas treatment and vacuum system integration, achieving large-scale delivery of domestically produced Sub-FAB equipment. Its clients include leading Chinese wafer fabrication companies such as ChangXin Memory Technologies, Hua Hong Group and Pengxin Micro. In October 2025, ASH raised USD 14.04 million in series B funding co-led by new investors Wuxi Huading Venture Capital, Wuxi Guolian Xinchuang private equity Investment Fund and HighLight Capital, with participation from other new investors GP Capital, Xinshang Investment, Jaic WuZhong Guofa Capital, Yunjin Capital and Hanli Capital. Returning investor New Access Capital also participated in the round.


The company focuses on the design and manufacturing of semiconductor products integral to various electronic applications. Their primary offerings include a range of integrated circuits (ICs) and system-on-chip (SoC) solutions tailored for industries such as consumer electronics, automotive, and telecommunications. These products enhance device performance, optimize power consumption, and support high-speed data processing, meeting the growing demand for efficient electronic components. The company serves a diverse client base, including major technology manufacturers and OEMs in regions such as North America, Europe, and Asia-Pacific, ensuring their solutions are utilized in applications such as smartphones, automotive systems and IoT devices.

The company generates revenue primarily from the sale of Sub-FAB auxiliary equipment and integrated system solutions. Additional income comes from engineering services, equipment installation and maintenance contracts with semiconductor foundries and photovoltaic manufacturers.

The company aims to enhance localization of key semiconductor equipment, accelerate large-scale manufacturing of scrubber and vacuum systems and establish new facilities to support the growing domestic demand for advanced Sub-FAB equipment.

## Funding rounds

- Series B, Oct 17, 2025, $14M — GP Capital, New Access Capital, Wuxi Huading Venture Capital, HighLight Capital, Yunjin Capital, Hanli Capital, Jaic WuZhong Guofa Capital, Xinshang Investment, Wuxi Guolian Xinchuang private equity Investment Fund
- Series A, Nov 4, 2024, $7M — New Access Capital, Yuanhe Puhua Suzhou Management
- Angel, Mar 29, 2023 — TEDA Venture Capital

## Investors

- TEDA Venture Capital (https://capitalatlas.ai/funds/teda-venture-capital) — Angel
- New Access Capital (https://capitalatlas.ai/funds/new-access-capital) — Series A, Series B
- Yuanhe Puhua Suzhou Management (https://capitalatlas.ai/funds/yuanhe-puhua-suzhou-management) — Series A
- GP Capital (https://capitalatlas.ai/funds/gp-capital) — Series B
- Wuxi Huading Venture Capital (https://capitalatlas.ai/funds/wuxi-huading-venture-capital) — Series B
- HighLight Capital (https://capitalatlas.ai/funds/highlight-capital) — Series B
- Yunjin Capital (https://capitalatlas.ai/funds/yunjin-capital) — Series B
- Hanli Capital (https://capitalatlas.ai/funds/hanli-capital) — Series B
- Jaic WuZhong Guofa Capital (https://capitalatlas.ai/funds/jaic-wuzhong-guofa-capital) — Series B
- Xinshang Investment (https://capitalatlas.ai/funds/xinshang-investment) — Series B
- Wuxi Guolian Xinchuang private equity Investment Fund (https://capitalatlas.ai/funds/wuxi-guolian-xinchuang-private-equity-investment-fund) — Series B