China's ASR Microelectronics snags $119m at over $1.6b valuation

A person using computer keyboard near green circuit board. Source: Zan/Unsplash

Chinese consumer electronics chips developer ASR Microelectronics has garnered $119 million in a Series D+ round of financing to reach a valuation of over $1.6 billion.

The Series D+ round was led by China Internet Investment Fund (CIIF), a Chinese state-owned fund that plans to raise 100 billion yuan ($14.16 billion) for the Internet sector, ASR announced in a recent statement.

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