TenaFe, a R&D enterprise of solid-state drive (SSD) controllers, announced on Friday that it has obtained $58 million in a B Round of financing led by Shunwei Capital, followed by Northern Light Venture Capital, Tyche Partners, Zhangjiang Hi-Tech Investment and Source Code Capital.
According to TenaFe, the new funds will be invested in four goals. First, in the fourth quarter of 2021, its latest TC2200 SSD controller will be put into the consumer PC OEM market; Second, the firm plans to invest in the development of its next generation consumer and data center application solutions; Third, it aims to keep stable production capacity and establish a chip inventory under the background of the global chip shortage; Finally, the company will expand its team and promote market development.
TenaFe was founded in 2019 and is headquartered in Beijing. It was founded by Mike Lee Mengkun, a veteran in the storage industry, and many experienced storage industry experts. The company mainly provides overall solutions for solid-state drive controllers. At present, it has obtained pre-orders from several customers, and its chip products will enter mass production by the end of 2021.
SSDs are mainly composed of storage particles, a main control chip and a host interface. At present, TenaFe mainly provides overall solutions for main control chips. The firmware contained in the main control chip has the functions of host protocol processing, storage particle management, automatic error correction and early warning.