Chinese SoC supplier ORITEK closes A2 funding round

Beijing (Gasgoo)- ORITEK, the Chinese supplier of system-level automotive SoC chips and solutions, recently announced the successful completion of its A2 round of financing, which brought ORITEK’s cumulative fund-raising to several hundreds of millions of yuan. 

Photo credit: ORITEK

Leading the investment in this round is CMS Capital, with participation from prominent investors and key players in the automotive industry, including GSR United Capital, and such existing shareholders as Xingyu Co., Ltd., Joyson Electronics, Beijing Taiji Huaqing Peicheng Software Technology, and Joinhands Capital.

ORITEK, a collaboration between its founding team and CMG-SDIC Capital (Advanced Manufacturing Industry Investment Fund II), is the first Chinese company to focus on the third-generation E/E architecture for smart cars (Zonal Architecture) by providing system-level SoC chips and solutions. 

The company's Longquan (Chinese pinyin) series of chip products cater to the chip requirements of intelligent automotive peripherals, intelligent area processors, and the central computing unit for pilot and parking. With cutting-edge intelligent algorithms and flexible layered delivery of software and solutions, ORITEK significantly reduces development costs for customers' new products and features while shortening time to market.

In June 2023, ORITEK introduced the world's first professional chip for electronic rearview mirrors (CMS Camera Monitor System) – the Longquan 560. This versatile chip platform simultaneously meets the application demands of passenger cars and commercial vehicles, supporting features like defogging, BSD (Blind Spot Detection) alert, and automatic switching for temporary views. 

Notably, among the investors in this funding round, Xingyu Co., Ltd. ("Xingyu") is a prominent domestic manufacturer of complete vehicle lamp assemblies and design solutions. In June of this year, Xingyu strategically partnered with ORITEK to jointly develop intelligent vehicle lighting and autonomous driving product solutions based on ORITEK's Longquan series chip platform.