INFOGRAPHIC: Top Asian Startup Funding — Week 30
These are the funding deals we tracked in the Asian region this week – including SemiDrive, Slice, Unimace Aerospace, Black Soil, Stable Money
China's SemiDrive Secures $137.7M to Expand Automotive Chip Innovation
Amid an investment surge in the Auto & Parts sector in China, with over $1.7 billion raised in Q1 alone according to DealStreetAsia, Chinese automotive chipmaker SemiDrive Technology has become the latest to benefit, securing 1 billion yuan ($137.7 million) in a strategic funding round.
This funding marks SemiDrive’s second billion-yuan investment in less than two years. In November 2022, it secured a Series B+ round led by a SAIC Motor-backed fund to accelerate its automotive chips production.
The recent round was led by the Beijing Economic-Technological Development Area, also known as Beijing E-Town, a tech hub focused on sectors like automobiles, new energy vehicles (NEVs), biotech, and robotics.
As part of this deal, SemiDrive is set to relocate its global headquarters to Beijing E-Town and enhance its research and development centres in Shanghai, Beijing and Shenzhen. The company also maintains branch offices in Changchun and Wuhan.
Founded in 2018, SemiDrive has swiftly become a key player in the automotive chip industry. With a growing clientele that includes over 260 domestic and international and local automotive firms including over 90% of local Chinese carmakers, the company boast a robust production of its entire chip lineup.
The strategic funding will enhance SemiDrive’s technological capabilities, support the automotive industry’s evolving needs, and solidify its position as a leader in the automotive chip market.
