Suzhou-based fabless semiconductor company Senscomm Semiconductor Co., Ltd has raised an undisclosed Series A round funding from cross-border venture capital Glory Ventures and Xiaomi Yangtze River Industry Fund, a joint venture by Chinese smartphone maker Xiaomi Corporation, according to a company statement on Thursday.
Led by professionals from Silicon Valley and South Korea, Senscomm designs and makes fabless semiconductors on wireless chip systems.
Senscomm has launched more than 20 products catering to global demand in augmented reality (AR)/ virtual reality (VR), internet of things (IoT), and electric vehicle (EV).
It will use the proceeds to strengthen the engineering team and for further development of its Wi-Fi 6 technology and SoC products.
In 2017, Xiaomi and the government of Hubei province set up Xiaomi Yangtze River Industry Fund in bid to invest in Xiaomi’s industry ecosystem.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from February 19-20, 2020.