ChipON Micro closes RMB300 million round B fundraising
The financing was led by China Fortune-Tech Capital (under SMIC), Hengxu Capital (under SAIC Capital), and Wanxiang Qianchao
On March 10, Shanghai ChipON Micro-Electronic announced the completion of Series B financing.
The financing was led by China Fortune-Tech Capital (under SMIC), Hengxu Capital (under SAIC Capital), and Wanxiang Qianchao, with participation from Shanghai Chaoyue Moer Equity Investment Fund, Hangzhou Sanhua Hongdao Investment Management Partnership, Silicon Harbour, and Winsoul Capital.
The transaction amount was 300 million yuan, with Winsoul Capital serving as the financial advisor.
ChipON Micro said that the proceeds will be mainly used for ramping up the research and development of auto-grade chips, including multi-core microcontrollers (MCU) that meet ASIL-D levels used in auto engines and domain controllers, as well as products related to radio frequency, ethernet and vehicle bus systems.
ChipON Micro was established in 2012, and the legal representative is Ding Xiaobing.
The company is a high-tech enterprise specializing in the design of automotive and industrial grade mixed-signal 8-bit MCU and 32-bit MCU & DSP chips. The company also developed independent MCU cores with a fully-integrated system.
ChipON Micro’s two automotive-grade chips, KF8A and KF32A, have achieved wide coverage from 8-bit to 32-bit in automotive electronics, and have passed AEC-Q100 automotive quality certification.
Its chips are used in scenarios such as body control, automotive power and safety, and intelligent cockpit systems. Also, these chips have accomplished mass commercialization in the automotive front-end market.