Cmind-SEMI Completes New Round of Financing Worth Several Hundred Million Yuan
On July 20, Cmind-SEMI announced the completion of a new round of financing worth several hundred million yuan. It was led by Legend Capital.
Cmind-SEMI was established in 2021 and is registered in Zhuhai, Guangdon. It has product R&D centers in Shanghai, Hangzhou, Xi’an, Shenzhen in China and Irvine, USA. The company focuses on providing 4G and 5G advanced wireless communication chips and overall solutions, and its products cover Internet of Things (IoT), C-V2X and Smart Phone.
Sun Dian, founder, chairman and CEO of Cmind-SEMI, spoke about the company’s offerings, saying: “The global cellular network system and market structure are evolving at an increasing speed. 2G and 3G are gradually withdrawing from broader network usage while 4G base stations are improving overall coverage and 5G base stations are expanding their coverage at a decent pace. IoT will be the second wave of products that share 5G dividends besides the smartphone. It will embrace a bigger market and offer more opportunities. The chip products of Micro Semiconductor will be taped out and taped up in the second half of this year.”
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In December 2021, Cmind-SEMI completed the first round of financing which was led by Walden International and several industrial funds and institutions such as Starry Capital Management. Several other industrial resources participated in the investment at that time. The funds are marked for use in the research and development of chips and platform solutions.
In recent years, IoT and IoV (Internet of Vehicles) have rapidly developed and upgraded, and the industry chain has gradually improved and matured. In particular, the chip is the core component of IoT and IoV terminals, and the launch of high-end chips will undoubtedly empower the rapid development of the whole industry. In terms of market, the scale of China’s IoT industry should continue to see high growth, with the development of IoT information processing and application services and other industries, the scale of China’s IoT industry growing from 489.6 billion yuan in 2013 to 1.6 trillion yuan in 2020.