Chinese DPU chip firm gains funds, unicorn status

Chinese DPU chip firm gains funds, unicorn status

Business news |
By Peter Clarke

Data processing unit (DPU) chip company Jaguar Microsystems (Shanghai, China), founded in 2020 by former Broadcom executive Sunny Siu, has raised a round of financing worth hundreds of millions of yuan (100 million yuan is about US$15 million).

The funding round was led by Tencent Holdings Ltd. and included Temasek, Shenzhen Venture Capital and Yicun Capital. The post-funding valuation of Jaguar was put at 9 billion yuan (about US$1.34 billion).

Prior to founding Jaguar Microsystems, Siu was general manager of Broadcom’s pre-processor and wireless infrastructure business unit in Greater China. In 2002 he helped co-found Raza Microelectronics Inc. which was acquired by NetLogic in 2009. Netlogic was in turn was acquired by Broadcom in 2011.

400 staff

Jaguar Microsystems’ has nearly 400 staff with many drawn from such companies as Broadcom, Intel, HiSilicon, Arm and Alibaba.

Jaguar released an FPGA version of its initial DPU at the end of 2021 and the system-chip version is in development and is planned for mass production in 2023.

The main customers for DPU chips are the cloud computing and Internet companies. Tencent has invested several times in Jaguar and is likely to be among the first customers. Tencent is reportedly testing chip functions.

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