SemiDrive bags roughly 1 billion yuan in B+ financing round

Beijing (Gasgoo)- Chinese automotive chip supplier SemiDrive announced on November 28 that it has raised nearly 1 billion yuan ($139 million) in its B+ financing round. 

Photo credit: SemiDrive

This round of financing is led by an industrial fund backed by SAIC Motor. Other investors in the round include CITIC Securities, Jiangsu Jinshi Transportation Technology Industry Fund, Anhui Transportation Holding Jinshi Investment, Guozhong Venture Capital, Huatai Insurance, and other institutions. SemiDrive’s existing shareholders such as Shanghai Technology Innovation Center, Zhangjiang Hi-Tech, V Fund, and Vinno Capital continue to invest in the company. 

According to SemiDrive, the proceeds will be used to continuously improve its core technologies, iterate auto-grade chip products, strengthen its mass production and service capabilities, and accelerate the applications of the company’s products in vehicles.

Notably, this marked SemiDrive’s second near 1-billion-yuan round of financing after a year. In July 2021, the company closed its B financing round which also raised roughly 1 billion yuan, with investors including Walden International, Matrix Partners China, Sequoia Capital China, Lenovo Capital, as well as the industrial capital of CATL.

As a supplier for high-performance and highly reliable auto-grade chips for intelligent mobility development, SemiDrive’s chip products and solutions cover four major business segments, namely smart cockpit, intelligent driving, central gateway, and high-performance MCU, targeting essential application scenarios of future intelligent vehicles.

Currently, SemiDrive has served more than 260 customers, which include Great Wall Motor, Changan Auto, FAW Group, SAIC Motor, Dongfeng Motor, BMW, and Volkswagen.