Intel Capital, the corporate venture capital subsidiary of semiconductor technology provider Intel, has co-led a $136m series A round for China-based consumer electronics producer Huaqin Telecom.
The round was co-led with semiconductor-focused investment firm Hua Capital and included Northern Light Venture Capital, Tsinghua Sinoking Capital, SummitView Capital, Walden International and Wise Road Capital.
Founded in 2005, Huaqin is an original design manufacturer (ODM) of smartphones, tablets, notebook laptops and internet-of-things technology.
The company began working with Intel in 2016 and introduced a server called Eden in September 2017 that was based on Intel’s Xeon chip.
The cash will support the enhancement of Huaqin’s notebook and data centre technology offering as well as the increased automation of its production.
Vincent Qiu, president of Huaqin Telecom, said in a statement that it intends to continue utilising Intel’s microprocessors it looks to expand into areas such as in-vehicle electronics, smart point-of-sale technology, and virtual and augmented reality.
Anthony Lin, Intel Capital’s managing director of Greater Asia, said: “We welcome Huaqin to our portfolio and will work with the company to further develop its multi-platform ODM capabilities by sharing our global perspective, large customer and partnership network and advanced technology resources.
“Intel Capital continues to support Intel’s transition into a data company by investing in companies like Huaqin that are powering the data explosion with connected devices.”