ByteDance invests in China’s ReRAM startup
ByteDance Ltd. (Beijing, China), the owner of video-sharing app provider TikTok, has invested in InnoStar Semiconductor (Shanghai, China), a Chinese startup developing resistive RAM technology.
The deal was conducted by Picoheart, an affiliate of ByteDance based in Singapore that specializes in virtual reality (VR) headets. Reportedly filings show Picoheart purchased a 9.5 per cent shareholding in InnoStar with the prospect of using memory chips produced by InnoStar in Picoheart VR headsets.
InnoStar, formally as Xinyuan Semiconductor (Shanghai) Co. Ltd., was founded in 2019 and includes former employees of Intel, SMIC and Spreadtrum Communications. It has said it raised hundreds of millions of dollars and to build China’s first 28nm/22nm ReRAM pilot wafer fab.
The company has not been explicit about the technology behind its ReRAM but offers licensable IP for use embedded in SoCs and for use as storage memory and for AI acceleration in datacenters.
Although the amount invested was not disclosed the deal is said to make ByteDance the third-largest shareholder of InnoStar, behind Memris Asia Pacific (28.8 percent) and Shanghai Alliance Investment (26.3 percent).
The investment is thought to be part of ByteDance’s strategy to compete with Oculus and Apple in the VR headset.
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