Beijing Eswin Computing Innovation, a Chinese startup that supplies semiconductor designs and services, has actually raised$ 283 million in a new financing round at a time when the world’s most populous country is looking to cut its reliance on the U.S. and U.K. for chipsets.
The four-year-old company said the brand-new round, a Series B, was led by Legend Capital, the financial investment arm of computer vendor Lenovo, and IDG Capital. Riverhead Capital Investment Management, Lighthouse Capital and state-backed Haining City and Zhejiang Province participated in the round.
Eswin Computing develops integrated options and chips focused on display screens and videos, AI information processing and cordless connection. It also provides advanced packaging and testing services. The firm is led by Wang Dongsheng, who formerly acted as the chairman of BOE Technology Group, a Chinese giant that produces display screens for TVs and smart devices and counts Huawei among its consumers.
BOE preserves a service relationship with Eswin, according to Chinese news outlet Caixin. BOE holds 37.35% of chip-related organisation in Eswin, the publication said.
In a press declaration, Eswin said it will spend the fresh capital on research study and development, recruitment and manufacturing. That, it believes, will assist spur the domestic chip production in China, which today relies greatly on U.S. and U.K. firms. In 2015, the U.S. blacklisted Huawei over security concerns and trade disputes with China.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.