The fast charging market is booming.
Zhejiang GeoforceChip Technology Co., Ltd. (hereinafter referred to as "GeoforceChip") (Chinese: 浙江地芯引力科技有限公司) recently announced the completion of nearly CNY 200 million in Series B financing. This round of financing was led by CETC Fund (Chinese: 中电基金). Co-investors include Hangzhou Chengtou Fuding Investment Management (Chinese: 杭州城投富鼎) and Ever State Capital (Chinese: 恒邦资本), Huayi Ventures (Chinese: 华义创投), Huazhi Rongke (Chinese: 华智融科), Prospect Bridge Asset Management (Chinese: 远桥资产), Caitong Capital (Chinese: 财通资本), and the existing investor Qianhai Guotai Fund (Chinese: 前海国泰基金) will continue to make additional investments.
After this round of financing, GeoforceChip will continue to enhance its research and development technology reserves, make full use of its patented technology advantages, explore mid-to-high-end market opportunities, and accelerate its deployment in industrial, energy storage, new energy and other application fields.
GeoforceChip was established in 2019 and is a chip design company driven by technological innovation, focusing on consumer electronics chips, information security chips, Near-Field Communication (NFC)/Radio-Frequency (RF) chips and other semiconductor integrated circuits and 5G fields.
The company's main products include smart fast charging chips, information security chips, smart audio chips, high-precision Analog-to-Digital Converter (ADC) chips and other fields. The comprehensive market share of the company's data cable fast charging management chip products ranks among the top in the industry, and it has established stable cooperation with core major customers in many industries.
At present, as mobile phone manufacturers gradually stop giving away free charging products, the pre-installation market is gradually shifting to the after-installation market, and the market space for third-party fast charging products continues to open.
Not only that, in the pre-installation market, mobile phone manufacturers are gradually increasing their acceptance of fast charging products - the per capita usage time is prolonged, and the power consumption is increased due to enhanced mobile phone screen experience. Mobile phone manufacturers need to explore how to provide users with better charging experience and launch higher power fast charging products.
Not only is the fast charging market exploding, but the wireless charging market is also on the rise. Especially after the iPhone X launched the wireless charging function in 2017, Android manufacturers also followed up with the wireless charging function. Under the trend of electrification, new charging modes such as wireless charging and fast charging are gradually expanding from the field of consumer electronics to new fields such as household appliances, energy storage, and medical care.