China’s auto chip developer ChipON bags hundreds of million RMB in C1 round

Beijing (Gasgoo)- China’s auto-grade chip developer, ChipON has completed its C1 round of financing, raising hundreds of millions of RMB.

Photo credit: ChipON

According to the company, the funds will be mainly put towards the R&D and market promotion of its auto-grade chips, including ASIL-D level multi-core products applied to engines and domain controllers.

The company also plans to enrich its product lineup for the entire automotive ecosystem layout and perfect its KungFu core ecosystem.

ChipON strives to be a frontrunner in the automotive semiconductor field, ensuring the sturdiness of the supply chain under the chip production crunch.

Records show that ChipON has bagged nearly one hundred million RMB in its Series-A round of financing on September 25th, 2020. Later in March this year, the company landed another RMB300 million investment in its Series-B round of financing. One of the lead investors in this round is SAIC Motor-backed Hengxu Capital.

In 2021, ChipON’s auto-grade 32-bit MCU, based on its self-developed KungFu core, has realized mass production. The company has reached strategic cooperation with multiple domestic automakers and global Tier1 suppliers thanks to the MCU products.

Moreover, the company is now included in Hyundai and Volkswagen’s supply chains, with business ranging from the car body, chassis wire-control, BMS, OBC, instrument, and multimedia.