Xiaomi-backed fund invests in chip developer Pride Silicon

Shanghai (Gasgoo)- Chinese chip developer Pride Silicon recently completed its Pre-A round of financing, which was exclusively invested by Beijing Xiaomi Intelligent Manufacturing Equity Investment Fund Partnership (L.P.), one of Xiaomi Group's industrial investment arms, according to the corporate information platform Tianyancha.

Photo credit: Xiaomi Group

The fresh round raised tens of millions of yuan for Pride Silicon. The proceeds will be used in R&D of the chips under the CAN/Ethernet PHY series.

Founded in March 2021, Pride Silicon focuses on the design of highly reliable digital-analog hybrid automotive chips. The company is permitted to operate such businesses as design, manufacturing, and sales of IC chips, software development, as well as auto parts R&D, according to Tianyancha.

As of today, it has completed two rounds of financing. Its angel round was closed in Dec. 2021, attracting such investors as Walden international, Sunic Capital, Innoangel Fund, and OFUND Angel.

Xiaomi Group has so far invested in over 100 chip, semiconductor, and electronics companies over the past five years, whose operations involve photoelectric chip, automotive chip, semiconductor manufacturing equipment, and other fields.