Nanjing SemiDrive Technology Ltd. (Nanjing, China) has completed a Series B+ round of financing valued at nearly 1 billion yuan (about US$140 million).
The round was led by SAIC Goldstone Innovation Industry Fund, CITIC Securities Investment, Jiangsu Goldstone Transportation Technology Industry Fund, Anhui Traffic Control Goldstone Investment, Guozhong Capital, Huatai Insurance and Qianhai Sirui.
The money will be used to update chip products and ramp large-scale chip production.
In July 2021 SemiDrive completed a Series B round of nearly 1 billion yuan and in September 2020 the 2018 startup raised 500 million yuan (about US$70 million) in Series A finance.
SemiDrive has launched four series of products, including the smart cockpit chip X9, the smart driving chip V9, central gateway chip G9 and high-performance MCU E3. The company has reportedly shipped more than 1 million chips and serves greater than 90 percent of China’s car manufacturers and some international car companies.