ChipON Completes C1 Round of Financing
On Tuesday, Chinese chip manufacturer, ChipON, announced it had completed the C1 round of financing worth several hundred million yuan. This round of financing was jointly invested by Shanghai Sailing Capital Capital, CICC Capital, Shui Mu Wutong, Zhongke Yucheng and Xuanyuan Friendship, along with Xinwang’s long-standing shareholder, Silicon Port Capital, making an additional investment while Winsoul Capital stayed on as financial adviser.
This round of financing funds will be used to invest in the R&D and marketing of chips that comply with vehicle standards, including ASIL-D multi-core products for automobile engines and domain controllers, as well as diversified product lines centered around the automobile ecology to improve the company’s own KungFu core industrial system.
Established in January 2012, ChipON has been able to independently develop an MCU kernel and build out an industrial system. In 2021, ChipON achieved mass-production of 32-bit MCU products based on its self-developed KungFu core, an achievement that enable it to reach several successful agreements with many large Chinese automakers and international leading automobile companies. Further, the company has been able to place itself into the supply chain systems of overseas automakers such as Korean Hyundai and German Volkswagen.
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