Chinese chip supplier Flagchip announces completion of two funding rounds

Shanghai (Gasgoo)- Suzhou Flagchip Semiconductor Co., Ltd. ("Flagchip"), a Chinese automotive chip supplier, announced today it had closed its Series B financing and a new strategic funding round.

The B round was led by Intel Capital and also drew the existing investor Glory Ventures, while the strategic round attracted such investors as GAC Capital and Kington Capital.

Photo credit: Flagchip

The company said the proceeds raised from the aforesaid rounds would be mainly used in the R&D and volume production of the new-generation chassis domain controllers for intelligent-connected vehicles ("ICV").

The new successful financing represents the growing market recognition of Flagchip’s improved technologies. The company added it provides chip products in compliance with the ISO26262 ASIL-B to ASIL-D standards for functional safety of road vehicles. Products from its FC4150 chip series have been applied to automotive BCM (body control modules), BCM+, BMS (battery management system), lighting system, electric motor controller, HVAC (heating, ventilation, and air conditioning) system, TPMS (tire-pressure monitoring system), and T-BOX. The company will soon launch the second high-performance automotive-grade chip of the FC4150 series.

In December 2021, Flagchip announced the completion of another strategic round, which was supported by the investment platforms of SAIC Motor and Xiaomi Group.