Biren Technology Nabs Pre-Series B Financing in Two Months after Series A

Technology Author: Dixuan Lu Editor: Luke Sheehan Aug 18, 2020 11:23 AM (GMT+8)

In less than a year since its establishment, Biren Technology has raised nearly CNY 2 billion in total.

Image credit: Luan Gjokaj/Unsplash

After completing Qiming-led series A financing of CNY 1.1 billion, GPU designer Biren Technology announced a pre-series B investment led by GL Ventures, which is Hillhouse Capital's independent VC, and followed by institutions including Sky 9 Capital, Gaorong Capital and current investors like IDG Capital.

This round of funds will be used for accelerating R&D of products and technologies and strengthening market expansion.

Supported by those investors, the chairman and founder of Biren indicated the company will speed up forming industry ecology.

Under the wave of chip localization, semiconductor companies emerged and poured into the capital market especially the Star Market, and at the same time, VC companies started to accelerate the layout of related industries.