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SiEngine closes Series B funding, targets million-unit shipments for SE 1000 chip in 2024

Gabriella From Gasgoo| March 28 , 2024 18:28 BJT

Beijing (Gasgoo)- SiEngine, a Chinese provider of high-performance automotive-grade processor solutions, officially announced on March 28, that it successfully completed a Series B financing round worth hundreds of millions of yuan.

SiEngine closes Series B funding, targets million-unit shipments for SE 1000 chip in 2024

Photo credit: SiEngine

The financing round was led by the second phase of the China State-owned Enterprise Structural Adjustment Fund, with participating investments from CoStone Capital and others. The proceeds from this financing will be allocated towards further production and supply of the mass-produced 7nm automotive-grade chip SE1000, the market promotion of high-end intelligent cockpits and cockpit-drive-park integrated solutions based on the SE1000, as well as the testing, validation, and market introduction of the new premium intelligent driving product AD1000 for all-scenario high-level intelligent driving.

As of the end of 2023, shipments of the SE 1000 have exceeded 200,000 units, said SiEngine. With the strong sales of the popular Lynk & Co 08 model, SiEngine's innovative strength and leading position in the domestic high-end automotive-grade chip field have been further confirmed, breaking the monopoly of foreign brands in the high-performance intelligent cockpit SoC domain and providing Chinese automakers with new options.

Additionally, the architectural advantages of the SE 1000 have enabled rapid porting of different operating systems, powering over 20 key vehicle models from various mainstream automakers. SiEngine's multiple cooperation projects with first-tier suppliers domestically and internationally are progressing smoothly, with shipments of the SE 1000 expected to reach the million-unit level in 2024.

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