Chinese semiconductor company SJ Semiconductor Corporation, also known as SJSemi, has announced that it has signed a $340 million financing deal with investors such as Legend Capital and Goldstone Investment in a Series C-II funding round.

The semiconductor company has completed the funding round in U.S. dollars, while the RMB (Yuan) funding is expected to be completed later after the necessary ODI (outbound direct investment) approval procedures.

During that time, the company noted that the Series C+ financing will remain open for more U.S. dollar funding to join. Upon the completion of the round, the company would have raised a total capital raised of over $1 billion and hit a valuation close to $2 billion. It says the oversubscribed Series C+ initial signing will further enhance the company's comprehensive technical strength in the field of high-performance advanced packaging.

The round also witnessed other participating investors including Jade Stone Venture, Shang Qi Capital, Leafoison Capital, TCL Capital, China Fortune-innovation Capital and GLP-C&D Capital, etc. Existing shareholders who added more include Oriza Rivertown and Oriza Hua Capital.

Established in August 2014 and based in China, SJ Semiconductor Corporation is the pioneer of the 12-inch MEOL (Middle-End-Of-Line) foundry in China. It offers 12-inch bumping and wafer testing services and focuses on the development of the 3D multi-die integration packaging business.

Serving leading IC companies overseas and domestically, the chip maker says it is committed to providing a convenient one-stop service to supply high-quality and efficient chips for local and international customers, as well as help strengthen its global competitiveness.