SemiDrive, an automotive-grade chip products and technical solutions provider, completed a series B+ financing round of approximately CNY 1 billion. This investment will primarily be used for continuous core tech upgrading, iterative updates for chip products and enabling mass production.
On November 28, Nanjing SemiDrive Technology Ltd. (Chinese: 芯驰科技) (hereinafter referred to as SemiDrive) completed a series B+ financing round of CNY 1 billion (USD 138 million) approximately, led by SAIC Goldstone Innovative Manufacturing Industry Fund (Chinese: 上汽金石创新产业基金) and followed by CITIC Securities (Chinese: 中信证券), Anhui Transportation Goldstone Private Fund Management (Chinese: 安徽交控金石投资), Shenzhen Guozhong Venture Capital Management (Chinese: 国中资本), Huatai Insurance (Chinese: 华泰保险) and Shenzhen Qianhai W&W Fund Management (Chinese: 前海赛睿) and more. The funds raised will be used for continuous core tech upgrading, iterative updates for chip products and enabling mass production for the company.
Up until now, SemiDrive has accomplished 7 rounds of financing, with its capital from investors such as Walden International (Chinese: 华登国际), Matrix Partners China (Chinese: 经纬中国), Sequoia Capital China (Chinese: 红杉中国), Lenovo Capital (Chinese: 联想创投), and CATL (Chinese: 宁德时代).
Founded in 2018, SemiDrive has been focusing on providing high-performance and high-reliability automotive-grade chips. The company has launched four series of products including the X9, V9, G9 and MCU E3 series, covering the key chip categories for future vehicle E/E architectures to meet customized consumer needs, ultimately boosting revenue and increasing customer stickiness. Currently, the four series of products have all realized mass production, having secured over 260 clients.
"SemiDrive has made the fastest progress in automotive-grade chips mass production domestically." Ji Feng, managing partner of Shangqi Capital (Chinese: 尚颀资本), commented on SemiDrive's financing event. CITIC securities holds a firm belief that SemiDrive possesses huge potential under the changes that have been taking place in the automobile industry and supply chain configurations.