Sushi Technology received tens of millions of dollars in Series B financing led by Oriza Puhua

Sushi Technology recently announced that it has completed a multi-million-dollar Series B financing round, led by Oriza Puhua, with participation from Mirae Asset, Cathay Capital, GSR Ventures and Huayan Capital, among other old shareholders. Cathay Capital is the lead investor in the A+ round. This round of funds will be mainly used to further build Sushi Technology's next-generation application-defined cloud platform.

Founded in 2017, Sushi Technology focuses on providing enterprises with a ready-to-use massive data computing platform starting from applications, solving the efficiency, cost and complexity issues prominent in enterprise application cloud and multi-cloud use, and providing enterprises with an efficient and reliable one-stop R&D environment, enabling users to access local and multiple public cloud resources without distinction, helping users improve business efficiency by 10-20 times and speed up market response.

In 2021, Fastone Technology's product line was fully upgraded, launching the ready-to-use and quick-to-use computing cloud platform FCC (Fastone Compute Cloud), the one-stop enterprise-level computing cloud platform FCC-E (Fastone Compute Cloud-Enterprise Edition), and the one-stop multi-cloud computing power operation platform FCP (Fastone Compute Platform), forming a three-product matrix covering enterprises and university scientific research users of different sizes and different usage scenarios.

With the exponential growth of data from advanced processes below 28nm in the semiconductor industry, and the huge amount of data brought by precision medicine in life sciences, the global market size for massive data analysis has reached trillions of dollars. However, the industry still faces many pain points such as difficulty in cloud computing, poor performance and high costs. Sushi Technology targets the pain points of the industry and provides customers with an efficient, easy-to-use, reliable and lower-cost computing cloud platform.

It is reported that the products developed by Speedstone Technology have been applied in the fields of semiconductors, life sciences, advanced manufacturing, and university research. In the semiconductor field, it has cooperated with dozens of chip design and design service companies and universities, and has reached in-depth cooperation with many foundries in the field of EDA Cloud. Among them, Speedstone Technology and Samsung Foundry jointly announced in the middle of this year that Speedstone Technology became the first cloud partner in China to join the SAFE™ program. Design company customers have covered various process node products from 7nm to 130nm.

Chip products require rapid iteration, but general design companies face a shortage of R&D manpower. Cloud-based simulation and verification can effectively speed up and alleviate the tight R&D capacity to a certain extent. Sushi Technology's one-stop IC R&D and design platform solves the four major business pain points of customers in the semiconductor industry: advanced process computing power gap, hybrid cloud model, lack of IT/CAD, multi-site collaboration, cloud native adaptation for EDA applications, performance tuning, and a complete set of environments for rapid delivery for R&D designers, perfectly covering the overall process of simulation verification before and after EDA. The local plus cloud hybrid cloud model solves the current situation of chaotic local resource use and low utilization, and on the other hand, it uses cloud elastic computing resources to greatly improve chip R&D efficiency, while realizing automated collaborative management of design centers in multiple locations. In addition, Sushi also has a complete set of data security protection measures to fully protect customer privacy.

For example, after optimizing the task splitting method of 24 HSPICE tasks of a start-up IC design company through the Sushi Technology Cloud Platform, 1920 core computing resources were dispatched from the cloud, shortening the task computing cycle from the original 30 days to 17 hours, and improving efficiency by 42 times. At the same time, the platform's automated deployment also greatly saved its time and labor costs.

A large IC design company uses the fastone platform to dispatch 5,000 core computing resources on the cloud to calculate Synopsys OPC (optical proximity correction) tasks, which improves efficiency by 53 times, equivalent to shortening the time from 1 month to 13.8 hours. During peak hours, tasks are not queued, which improves R&D efficiency, helps IT personnel improve management and operation and maintenance capabilities, and strengthens communication and collaboration between R&D and IT. This is also the largest OPC cloud migration for domestic semiconductor companies to date.

The core team of Sushi Technology comes from leading cloud computing and enterprise-level IT service companies in the industry, such as EMC, AWS, Oracle, and Synopsys. The core members have experience in creating enterprise-level IT products with annual revenue of US$1 billion from scratch, and have helped public cloud giants achieve US$100 million in revenue in China.

About Speedstone Technology

Fastone Technology is committed to building an application-defined cloud, allowing any application to always run on any infrastructure in an automated, more optimized and scalable manner.

We provide a one-stop delivery platform optimized for applications, analyze and accelerate applications in different fields such as drug development CADD/AIDD, semiconductor EDA, industrial manufacturing CAE, artificial intelligence AI, etc., provide computing power operation and intelligent scheduling services for local and multiple cloud resources, and realize IT automation management and user-friendly access to local and cloud resources in complex enterprise scenarios such as multi-region + multi-cloud. Help users improve business computing efficiency by 10-20 times, reduce costs by more than 75%, and speed up market response.

About Yuanhe Puhua

Yuanhe Puhua is one of the most successful and active investment teams in the integrated circuit field in recent years. Since its establishment, it has established an investment model covering the entire industry chain, all stages, and all regions. The scale of the managed fund exceeds 10 billion yuan, and the IRR exceeds 40%. It has cultivated dozens of listed companies in the industry and has invested in more than 100 integrated circuit projects, including: Will Semiconductor (OmniVision Technologies), SiRuiPu, Tianjue Technology, Hengxuan Technology, Xinpengwei, Nanochip, Zhongke Bluexun, SMIC, Baidu Kunlun, etc.

About Cathay Capital

Cathay Capital was founded in 2006. It currently manages over US$4 billion in total and has invested in more than 190 companies on four continents, focusing on innovative and promising companies in the fields of consumption, TMT, healthcare, automotive travel, energy, financial technology, and high-end manufacturing. As a professional investment institution with deep global industrial resources, Cathay Capital has offices in Paris, Shanghai, Beijing, Shenzhen, New York, San Francisco, Munich, Tel Aviv and Singapore. More than 120 professional investment team members serve investors and invested companies with a multicultural and global perspective, through unique business models and value-added strategies and local networks and resources, and explore and accompany the growth of a new generation of world-class companies.