Chinese semiconductor firm Moore Threads secures $313m Series A

Moore Threads, a Chinese semiconductor player which provides graphics processing units (GPUs), announced on Thursday that it has raked in 2 billion yuan ($313 million) in a Series A funding round.

The financing was jointly led by long-term backer Source Code Capital, state-backed Shanghai Guosheng Group, and BOC International’s Bohai Sheng (Hubei) Industrial Fund Management. The round also attracted nine investors including China Construction Bank’s CCB International, Qianhai FOF, and China Merchants Securities.

Moore Threads will invest the fresh capital in GPU chip development, and its mass production.

In February this year, Moore Threads had pocketed ‘billions of yuan’ in two rounds of financing from a portfolio of marquee investors including Sequoia Capital China, GGV Capital, Source Code Capital, and Shenzhen Capital Group. The round had pushed it into the unicorn club.

Late last year, the company had raised an undisclosed sum in an angel round from Source Code Capital, Sequoia Capital China, Wen Ming Investment, and home appliances player HeT.

According to global market intelligence firm IDC, China’s GPU market size will hit $6.4 billion by 2024, and it will clock a  27% compound annual growth rate (CAGR) in the next five years.

Within a year after its inception in 2020, Moore Threads rolled out its first-generation GPU product. GPUs are used to enhance graphic rendering in computing devices.

Moore Threads claims that it plans to apply its GPU technology to fields including robotics, autonomous driving, biocomputing, smart energy, and healthcare. 

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.