ASR Microelectronics, a China-based semiconductor producer backed by e-commerce group Alibaba, has closed a $100m series B round, China Money Network reported today.
The round was co-led by venture capital group IDG Capital and existing investor Wanrong Hongtu Fund.
Founded in 2015, ASR Microelectronics develops chips aimed at consumer electronics functionality, including mobile phone data, mobile navigation and the internet of things.
The company acquired the mobile business unit of US-based chipmaker Marvell in May 2017, and China Money Network identified integrated circuit chip designer Alphean and China-based company Smart IC as other recent acquisitions.
ASR has raised $300m to date according to China Money Network, including $100m in an April 2017 round backed by e-commerce group Alibaba, Shenzhen Capital and the Wanrong Hongtu Fund.
ASR’s website also lists Shanghai Pudong Nova Newstar Venture Capital, Shanghai Pudong Science and Technology Investment, Shanghai Yi Tai Venture Capital Partnership and Shanghai Wu Yuefeng Venture Capital Partnership as investors, though further details could not be ascertained.