Chinese chipmaker SiEngine raises another US$72 million
WUHAN automotive chipmaker SiEngine Technology this week said it had completed a CNY500 million (US$72.5 million) Series A+ funding round in the fourth quarter of last year, reports Tokyo's Nikkei Asia.
The round, whose participants included Teda Venture Capital, Haier Capital, SPDB International Holdings, Wuhan S&T Investment Company and Tongxi Capital, will help boost chip output among other uses. Existing shareholders Grandsyn Capital, Yuexiu Fund and Vision Knight Capital also took part in the funding.
Founded in 2018, SiEngine is backed by UK chip designer Arm's joint venture Arm China and ECARX Holdings, a Chinese auto tech startup backed by Geely Holding Group chairman Li Shufu. Sequoia Capital China led the company's Series A funding round, which raised close to CNY1 billion in July last year.
The SiEngine Technology is headquartered in Wuhan, with research and development centres in Beijing and Shanghai.
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