China-based fabless semiconductor producer Brite Semiconductor has raised RMB350m ($50.2m) in series D funding from investors including consumer electronics manufacaturer Xiaomi, China Money Network reported on Friday.
Steel manufacturing and logistics conglomerate Teda Investment Holding also took part in the round, which was co-led by securities firm Haitong Securities and industrial investment platform Sunic Capital.
The round was filled out by Oriza Hua, an integrated circuits-focused fund for investment holding group Oriza Holdings, as well as Volcanics Venture, GP Capital and unnamed existing backers. Xiaomi participated through its Hubei Xiaomi Changjiang Industrial Fund Partnership.
Founded in 2008, Brite develops application-specific integrated circuits: microchips that are customised for specific uses rather than serving as general-purpose processors. The funding has been allocated to technology development and marketing activities.
Semiconductor foundry SMIC injected $8m in series C financing into the company in 2015 alongside Norwest Venture Partners and Gobi Partners. The same three backers had joined IPV Capital for Brite’s $15.9m series B round in 2010.
Norwest Venture Partners and Gobi Partners had already provided $6.7m in series A funding for Brite the previous year.
