Beijing (Gasgoo)- On February 1, Chinese SoC chip supplier ORITEK announced the completion of its Series A1 financing round, which raised for the company hundreds of millions of yuan.
Photo credit: ORITEK
The fresh round was led by CMG-SDIC Capital, and also attracted such investors as a SAIC-backed fund, Sunic Capital, SND Ventures Group, Forebright Capital.
According to ORITEK, it has successfully sailed through two financing rounds in the past year, both of which raised for the company multi-hundred-millions of yuan. Upon completion of the new round, the company’s list of investors has grown to include such named companies in the automotive industry as SAIC Motor, Joyson Electronics, Shanghai Baolong Automotive Corporation, and ArcSoft.
ORITEK is the first Chinese system-level SoC chip supplier focusing on the third-generation E/E architecture for smart vehicles. It was jointly established by its founding team and the China’s Advanced Manufacturing Industry Investment Fund. The company’s R&D team includes talents from leading chip design companies worldwide with an average experience of over 15 years.
Building on the third-generation E/E architecture (Zonal architecture), ORITEK provides serialized chips and solutions for intelligent vehicles. The company’s Longquan 560 product series meets the requirements of the smart components on intelligent vehicles (CMS mirrors/smart headlights, etc.), smart domain controllers (ZCU), and the central computing unit for integrated drive/park chips.
In addition, its intelligent algorithms and flexible tiered delivery of software and solutions can greatly reduce the development cost and time for clients when developing new products.
