China-based semiconductor producer Brite Semiconductor raised $8m in a series C round featuring semiconductor foundry SMIC yesterday.
Norwest Venture Partners, the venture capital firm managing funds on behalf of financial services provider Wells Fargo, also participated alongside VC firm Gobi Partners.
Brite manufactures a range of application-specific integrated circuit design services, from initial design specification to tested and packaged integrated circuits.The chips are used in a wide range of applications including desktop computers, smartphones, surveillance systems and mobile phone towers.
The company secured $15.9m in a 2010 series B round featuring SMIC, Norwest, Gobi and IPV Capital, having received $6.7m in series A funding from Norwest and Gobi in 2009.
Brite is currently expanding into the US and other international markets. It will specifically use the fresh funding to expand its research and development capabilities.