ASIC Designer Brite Semiconductor Receives CNY 350 Mn from Xiaomi, Others
...amid the ongoing chipmaking craze in China's mainland.
Brite Semiconductor announced on August 6 that it has raised CNY 350 million in its Series D round of funding. The funds will be used to further promote the company's ASIC one-stop design scheme and SoC platform technology R&D.
Founded in 2008, Brite Semiconductor is a customized application-specific integrated circuit (ASIC) design solution provider and IP supplier. Its products are based on SMIC's (00981:HK, 688981:SH) advanced process techniques.
"With the increasingly fierce competition, ASIC has become one of the important means for downstream manufacturers to achieve product differentiation and improve supply chain security," said Xiaomi Industry Fund's partner Jiutang Pan (潘九堂). "ASIC has a huge prospect for the future."
Xiaomi Industry Fund was among the investors participating in this event.
Since 2010, the company has been a strategic partner with SMIC. To cope with SMIC's 14nm process node, Brite needs to design more advanced integrated circuits.
SMIC is the largest integrated device manufacturer (IDM) in the Chinese semiconductor market and is continuously improving its position as its partners, like packaging and testing company JCET (600584:SH) and Brite, are growing stronger.