Consumer electronics manufacturer Xiaomi’s Changing Industrial Fund has co-led a RMB1.5bn ($225m) funding round for China-headquartered image sensor chip producer SmartSens, DealStreetAsia has reported.
The round was co-led by China Merchants Bank’s CMB International subsidiary, an undisclosed telecoms-focused fund and the state-owned China Integrated Circuit Industry Investment Fund.
Lenovo Capital, the investment arm of electronics manufacturer Lenovo, also took part, as did chipmaker Wingtech Technology, smartphone producer Transsion Holdings, Sequoia Capital China, China Internet Investment Fund, China Fortune-Tech Capital, Haitong Kaiyuan and Forebright Capital.
SmartSens’ technology utilises machine learning and artificial intelligence to help capture high-definition images and video footage. It is used in consumer electronics such as drones and smart home or car products, as well as in security and surveillance systems.
Lenovo Capital had reportedly joined technology investment vehicle Beijing Singularity Power Investment Fund in a round for the company sized at about $20m, in August 2018.
Hubble Ventures, a subsidiary of electronics producer Huawei, added an undisclosed amount in August 2020, according to DealStreetAsia.
The latest funding will go to product development and technology innovation, and it comes as SmartSens releases its latest product, a complementary metal-oxide-semiconductor (CMOS) image sensor for use in the automotive industry.
SmartSens, which was founded in 2011, had closed the purchase of a domestic CMOS sensor provider, Allchip Microelectronics, in June this year.
