China-based semiconductor technology developer Eswin Computing Technology raised more than RMB2bn ($282m) yesterday in a series B round co-led by Legend Capital, the venture capital firm formed by conglomerate Legend Holdings.
VC group IDG Capital co-led the round, which also featured Beijing Xindongneng Investment Fund, a vehicle backed by electronic components producer BOE Technology.
Riverhead Capital, Lighthouse Capital, Triniti Capital, Broad Vision Funds and undisclosed additional investors filled out the round.
Founded in 2016, Eswin is working on integrated chips for use in applications such as artificial intelligence-powered data processing, wireless connectivity, displays and video. It also offers packaging and testing services.
The funding will go toward research and development activities, supporting intellectual property development, covering video streaming expenses, increasing headcount, enhancing the company’s product offering and strengthen its market position.
Eswin had previously closed a series A round of undisclosed size in January 2019. The round was led by IDG Capital, with participation from Beijing Singularity Power Investment Fund, Triniti Capital and Broad Vision Funds.