GAC Group-backed chip supplier CanSemi bags RMB4.5 billion

Beijing (Gasgoo)- Guangzhou CanSemi Technology (CanSemi), a semiconductor supplier backed by GAC Group, officially completed its latest financing round, raising RMB4.5 billion ($671.87 million). 

Photo credit: CanSemi

Co-leading investors of the round are GAC Capital and a semiconductor-dedicated fund from the Guangdong provincial government. Notably, aside from a slew of well-known venture capitals, there were also several automakers in the mix of investors, including SAIC Motor and BAIC Group.

CanSemi said that the funds will be put towards the construction of the newest phase of its semiconductor manufacturing base project. 

As the only 12”-chip developer that realized mass production in the Guangdong-Hong Kong- Macau Greater Bay Area, CanSemi is dedicated to analog chip manufacturing. Starting from consumer-level chips, CanSemi is now branching out to the industrial and automotive fields.

Currently, the first two phases of its manufacturing project have been constructed and started production. The project positioned CanSemi as the only Guangdong-incubated integrated circuit manufacturer. The company houses a professional team of over a thousand employees, with a comprehensive technological reserve and intellectual property system.