Chinese industrial-grade drone developer i-KINGTECH and integrated circuits (IC) maker Silicon Integrated have raised $25 million each in their respective Series B funding rounds.
Industrial grade drone developer i-KINGTECH raises $25m Series B round
Beijing-based industrial-grade drone developer i-KINGTECH has raised 180 million yuan ($25 million) in a Series B round of financing led by Zhongyi Mingyuan Venture Capital Management, a venture capital firm located in eastern China’s Suzhou city, it announced in a WeChat post.
Other investors in the Series B round include the Shenzhen arm of China’s National Fund for SME Development, and existing backers including early-stage venture capital firm BlueRun Ventures, and Hongtai Aplus, an investment platform co-launched by New York-listed New Oriental’s founder Michael Yu Minhong.
Founded in March 2017, i-KINGTECH uses artificial intelligence (AI) to develop industrial-grade drones, fully automated airport solutions, and intelligent control platforms powered by the cloud. Its products and services are adopted in the fields of smart grid management, smart city projects, petroleum and petrochemical production, as well as emergency management.
Proceeds will be used to promote the mass production and commercialisation of its AI-based offerings across different sectors. The startup aims to become a provider of full-stack low-altitude airspace management solutions in China.
The startup raised tens of millions of yuan in a Series A round from Hongtai Aplus and BlueRun Ventures in August 2019.
In September 2017, it completed a pre-Series A round led by China’s Bokan Industrial Development Fund for New Economy, with participation from Beijing-based Trustino Capital and Geekhouse Capital.
Mixed-signal ICs developer Silicon Integrated gets $25m in Series B round
Silicon Integrated, a Chinese startup that offers high-performance mixed-signal integrated circuits (ICs), has secured a total of 180 million yuan ($25 million) in a Series B round of financing.
The round comprises two tranches of capital injections, including a more recent investment of 120 million yuan ($17 million) led by Chinese semiconductor equity investment fund CTC Capital with participation from Source Code Capital.
The first tranche was an investment of 60 million yuan ($8 million) by Chinese venture capital firm Allin Capital, Beijing-based investment firm Jiangmen, and an undisclosed smartphone industry fund, according to a statement.
Silicon Integrated, founded in January 2016, focuses on high-performance mixed-signal IC design and algorithm integration. The startup mainly produces smart audio amplifiers that are used in smartphones and 3D image sensors, which can be used for facial recognition, self-driving vehicles, 3D modelling, fast movement capture, and machine vision in the mobile, surveillance and automotive industries.
Silicon Integrated is “investing heavily” in the development of 3D sensors’ core technologies, said its co-founder and CEO Liu Deheng.