Chinese automotive system-on-chip (SOC) product startup Nanjing SemiDrive Technology has raised nearly CNY1 billion in a series B round to boost its automotive cockpit chip.
The fresh financing round was co-led by China Development Bank Capital’s joint fund and smart manufacturing-focused V fund. Existing investor-CT Capital, Vertex Ventures China made follow-on-investment.
Lithium-ion-battery manufacturer CATL’s participated the round through its venture capital unit Chendao Capital.
A slew of new investor also participated the round, including BOC International, Shanghai Technology Innovation Investment Fund and Zhangjiang Group’s sub-fund.
SemiDrive will use the fresh capital to fund the research and development for advanced automotive chips.
SemiDrive was co-founded by CEO Maggie Qiu, who was previously general manager of Freescale Qiangxin, as well as R&D director for the i.MX product line at Freescale. SemiDrive is one of the few fabless semiconductor companies in China to have passed the ISO 26262 functional safety management system certification.
In September, 2020, SemiDrive has completed series A round and raised CNY500 million from investors including Matrix Partners China, CLP Walden, Lenovo Ventures, Xiangfeng Investment, Sequoia Capital China Fund and Accuracy.
SemiDrive produces high-performing and energy-efficient SoCs for automakers.
In 2020, SemiDrive launched the X9 smart cockpit chip, the V9 ADAS and autonomous driving processor and the G9 multi-domain interconnected vehicle gateway and security chip
The company has inked partnership agreement with automakers, including China FAW Group Corporation and China Automotive Innovation.