Chip Designer Smartsens Raises Nearly $225 Million From National Chip Fund, Xiaomi
SmartSens Technology Co., Ltd, which specialises in the design of CMOS image sensing (CIS) chips for smart clarity and smart pixel, has raised approximately 1.5 billion yuan ($225 million) in a funding round co-led by a clutch of marquee investors, as per a company statement on Friday.
China Integrated Circuit Industry Investment Fund (ICF) — a state-owned semiconductor-oriented fund co-launched by China Development Bank Capital, China Tobacco, and others in 2014 — Xiaomi Changing Industrial Fund, China Merchants Bank’s CMB International, and a telecom-focused fund, jointly led the current fundraising.
The other new investors who participated in the round are Sequoia Capital China, China Internet Investment Fund, semiconductor and communication service provider Wingtech Technology; smart devices, and mobile services designer Transsion Holdings; China Fortune-Tech Capital; and Haitong Kaiyuan.
Existing investors Lenovo Capital and Forebright Capital also joined the round.
SmartSens will aim to support technology and product innovation, the company said in the statement.
Headquartered in Shanghai, SmartSens is one of China’s leading CIS chip designers. Since its inception in 2011, the company has been developing high-performing image and video capturing products and solutions by leveraging machine vision and AI.
Its services have applications in a slew of industries like security and surveillance, automotive, smart home, and consumer electronics.
Apart from the Chinese, SmartSens has also set up divisions in Hong Kong, Taiwan’s Hsinchu, and San Jose, California.
SmartSens on Friday launched its new pixel CMOS sensor to further enhance performance in automotive setting. In June, it had acquired Shenzhen-based Allchip Microelectronics, a CMOS image-sensor maker for automotive applications.
Chinese global information and communication technology group Huawei’s investment arm Hubble Ventures had made an unspecified strategic investment in SmartSens in August this year.
This article was originally published by Deal Street Asia
Contact editor Yang Ge (firstname.lastname@example.org)
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