China-based semiconductor technology developer Beijing Eswin Technology Group has secured $392m in a series C round backed by automotive manufacturer SAIC Motor’s Shang Qi Capital subsidiary, DealStreetAsia reported yesterday.
The round was co-led by investment bank Citic Securities’ private investment arm, Goldstone Investment, with China Internet Investment Fund, and included Legend Capital, the venture capital firm spun off by conglomerate Legend Holdings.
Financial services firm China Development Bank, China InnoVision Capital, IDG Capital and private investor Liu Yiquan filled out the round.
Founded in 2016, Eswin provides chips for use in artificial intelligence-powered applications like data processing, wireless connectivity and video. In addition to integrated circuits, it provides silicon materials and advanced packaging products.
Legend Capital led the company’s $282m series B round in June 2020, investing with IDG Capital, electronic component manufacturer BOE Technology’s Beijing Xindongneng Investment Fund, Riverhead Capital, Lighthouse Capital, Broad Vision Funds, Triniti Capital and undisclosed other investors.
IDG Capital had previously led a series A round of undisclosed size for Eswin, in January 2019, which also featured Triniti Capital, Broad Vision Funds and Beijing Singularity Power Investment Fund.
