MEMSIC Semiconductor, a China-based firm that develops semiconductor sensors for clients like Google and Samsung, announced on Monday the completion of a Series A funding round at over 1 billion yuan ($154.3 million).
The Series A round was led by Hangzhou-based investment firm Fortuna Capital. An unnamed sovereign wealth fund in Asia; Alibaba co-founder Jack Ma-backed Yunfeng Capital; pan-Asia private equity (PE) firm Olympus Capital’s Asia Environmental Partners (AEP); Chinese state-backed Yangtze River Delta Collaborative Advantage Industry Fund and other investors participated.
