Shenzhen Xinqiyuan Technology Co., Ltd said on Tuesday that it has secured “tens of millions of US dollars” in a Pre-A2 round of financing jointly led by semiconductor-focused investment firm CTC Capital and SoftBank’s China arm SBCVC.
The company specialises in delivering intelligent chips to telecom companies and enterprises. The proceeds of the round will be used for technology innovations, besides business ecosystem and market expansions, the company said in a WeChat post on Tuesday.
Xinqiyuan had closed an undisclosed Pre-A round funding from Shanghai-based New Insight Capital in 2019.
Six-year-old Xinqiyuan has specialised in the fields of 5G network data centres and high-end electronic design automation (EDA). Xinqiyuan claims that it has developed China’s sole data processing unit (DPU) that can reduce the operation cost of cloud computing data centres.
The company recently set up a laboratory with China Telecom.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on February 19-23, 2021.
| Startup | Headquarter | Investment Size (USD) | Investment Stage | Lead Investor(s) | Other Investor(s) | Verticals |
|---|---|---|---|---|---|---|
| Clover Biopharmaceuticals | Chengdu | 230 million | C | GL Ventures, Temasek | Oceanpine Capital, OrbiMed, Delos Capital | Biotech |
| SPH Health Commerce | Shanghai | 160 million | B | Shanghai Biomedicine Industry Fund, JIC Group | Sinocare, Shanghai Shangguo Investment Asset Management, New Alliance Capital, Ample Harvest Finance, Shanghai Huadong Group | HealthTech |
| Wangjiahuan | Shenzhen | 123 million | B+ | CPE | Paul Run Holding, Ziming Capital | Ridesharing /Transport |
| Regor Therapeutics | Shanghai | 90 million | B | Lilly Asia Ventures (LAV) | Loyal Valley Capital, Lanting Capital, TF Capital, Vertex Ventures China | N/A |
| Black Lake Technologies | Shanghai | 77 million | C | Temasek | Growth Capital, Lightspeed China Partners, GSR Ventures, BAI Capital, GGV Capital, ZhenFund | Saas |
| Oray | Shanghai | 40 million | - | GL Ventures | Tencent, Gaocheng Capital | Saas |
| Sciwind | Hangzhou | 39 million | B | LYFE Capital | Legend Capital, Zhejiang Haibang Investment Management | N/A |
| Shenzhen Xinqiyuan Technology | Shenzhen | * 15 million | Pre-A2 | CTC Capital, SBCVC | - | Big Data |
| Cryofocus Biotech (Shanghai) | Shanghai | * 15 million | B | GL Ventures | FutureX, Ningbo Tongshang Ventures, Qingdao Guoxin, Shenzhen Furong Investment, Proxima Ventures | N/A |
| Lyvgen | Shanghai | * 15 million | C | IDG Capital | Suzhou Longmen Ventures, Chengwei Chuangban Investment, FTZ Fund | N/A |
| USTAR | Hangzhou | * 15 million | - | Oriental Fortune Capital | CD Capital, Jiangu Capital, Juxie Capital | N/A |
| Suzhou Singular Medical | Suzhou | * 15 million | B | SDIC Unity Capital, Qiming Venture Partners | Northern Light Venture Capital, SND Ventures Group,Marathon Venture Partners | N/A |
| Rigenbio | Shanghai | 15 million | A | Oriza Seed | ZhenFund, Prosperico Ventures | HealthTech |
| Baobao Chanle | Zhoushan | 15 million | A, A+ | - | Tiantu Capital | N/A |
| Captain BI | Shenzhen | 15 million | A | Eastern Bell Capital, Cowin Capital | Zongteng Group | Saas |
| Maycur.com | Hangzhou | 15 million | B+ | Vitalbridge | GP Capital | Saas |
| Beijing VirtAI Technology | Beijing | * 10 million | A+ | China Mobile and CMB International's telecommunication fund | GL Ventures | AI and Machine Learning |
| Vika | Shenzhen | 10 million | Pre-A, Pre-A+ | Pre-A: Eminence Ventures Pre-A+: GL Ventures | Pre-A: 5Y Capital PA-A+: Eminence Ventures, 5Y Capital | Cloud Computing |
| LTHPC | Beijing | * 1.5 million | A | Zero2IPO Asset Management | - | AI and Machine Learning |
| Greatway Pharm | Beijing | * 1.5 million | A | Co-win Capital | Dynamic Capital | N/A |
| CHIC Health | Shanghai | * 1.5 million | Angel | - | MatrixPartners China | HealthTech |
| Lamotech | Shanghai | 1.5 million | A | Bluerun Ventures | - | 3D Printing |
| WAT | Taipei | 1.5 million | Pre-A | BAI | - | N/A |
| Transblock | Beijing | -- | B+ | - | GGV Capital, GSR Ventures | Real Estate Tech |
| Teddy Mobile Technology | Beijing | - | D1 | - | Xiaomi, Kinzon Capital | N/A |
| Yikongzhijia | Beijing | - | A | NIO Capital, Eight Roads | - | Autonomous Driving |
∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.5 million)” in the given example.
