Geely Founder-Backed Auto Chip Startup SiEngine Raises $148 Million

SiEngine Technology received hundreds of millions of yuan in a strategic investment in March from FAW Group.

Wuhan-based car chip designer SiEngine Technology Co. Ltd. raised nearly 1 billion yuan ($148 million) in its round A financing from investors led by Sequoia Capital, the company said Tuesday.

Backed by Zhejiang Geely Holding Group Co. Ltd. founder Li Shufu, SiEngine didn’t disclose its valuation after the fundraising.

Other investors include Chinese software company Neusoft, Bosch’s Boyuan Capital, SMIC’s China Fortune-Tech Capital, Vision Knight Capital, Guosheng Capital, Hundreds Capital, Cedarlake Capital, Yuexiu Industrial Fund and ICBC International.

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