China-based electronic display technology provider Yunyinggu has closed series C and C-plus rounds featuring corporates Xiaomi and Qualcomm having raised a total of more than RMB200m ($28.3m), EqualOcean reported on Sunday.
Mobile chipmaker Qualcomm’s Qualcomm Ventures unit and consumer electronics brand Xiaomi joined venture capital firm Qiming Venture Capital, which led the round, as well as Avic Fund, Northern Light Venture Capital and Hongtai Fund, which took part in the September 2019 series C raise.
Yunyinggu produces driver chips for organic light-emitting diode (OLED) displays for use in electronic devices such as smartphones, laptops and virtual reality systems. The funding will go to research and development activities.
The company had previously received undisclosed amounts in a series A round that included Vertex Ventures and Citic Capital, and a series A-plus round backed by electronics manufacturer BOE Technology, according to China Money Network.
Investors including Qualcomm Ventures, Northern Light Venture Capital and Hongtai Fund reportedly supplied an undisclosed amount of funding for Yunyinggu’s series B round.
Yunyinggu founder Gu Jing said: “The threshold for the design and manufacture of display chips is very high, requiring cutting-edge technology and an experienced team. At the same time, the support of mainstream manufacturers in the upstream and downstream industry chains are also very important.
“I am very pleased that Yunyinggu is recognised by financial investors and upstream and downstream partners. The company will continue to work hard with customers on more and more mobile phones and wearable VR devices equipped with Yunyinggu chips.”
