Chengwei Capital, Huami co-lead $50.6m Series C in Silicon Valley chip firm SiFive

Private equity firm Chengwei Capital and Huami, the largest manufacturer of wearables in the world, have co-led the $50.6-million Series C funding round in SiFive, a Silicon Valley-based fabless semiconductor firm.

The Chinese firms joined existing investors Sutter Hill Ventures, Spark Capital and Osage University Partners alongside strategic players SK Telecom and Western Digital in the latest funding round.

The round brings the startup’s total investments to $64.1 million. In a statement, SiFive said, the investment will allow it to create a new licensing model for the semiconductor industry.

SiFive provides market-ready processor core IP based on the RISC-V, a free and open instruction set architecture for modern microprocessors. RISC-V was invented by the company’s founders.

RISC-V is set to be the standard architecture in all modern computing devices, from 32-bit embedded microcontrollers to 64-bit application processors, according to the company.

SiFive shipped the industry’s first RISC-V SoC in 2016 and the industry’s first RISC-V IP with support for Linux in October 2017.

In addition to the funding announcement, SiFive also revealed that it has signed a multi-year license to its Freedom Platform with Western Digital, which has pledged to produce 1 billion RISC-V cores.

Western Digital chief technology officer Martin Fink said RISC-V delivers a platform for innovation unshackled from the proprietary interface of the past.

“This freedom allows us to bring computing closer to data to optimize special-purpose compute capabilities targeted at Big Data and Fast Data applications. The next generation of applications like Machine Learning, AI, and Analytics require this ability to focus on a specific task,” he said.

SiFive’s Series C financing comes nearly a year after its last round of funding, which allowed it to expand its executive team and move to a new, larger headquarters in Silicon Valley.

Also Read:

China’s Huishoubao raises $15m series A investment led by Chengwei Capital

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.