Xiaomi-backed fund invests in chip developer Pride Silicon
Shanghai (Gasgoo)- Chinese chip developer Pride Silicon recently completed its pre-A funding round, which was exclusively invested by Beijing Xiaomi Intelligent Manufacturing Equity Investment Fund Partnership (LP), one of the industrial investment arms of Xiaomi Group, according to the Tianyancha enterprise information platform.
Photo credit: Xiaomi Group
The new round raised tens of millions of yuan for Pride Silicon. The product will be used in the R&D of CAN/Ethernet PHY series chips.
Founded in March 2021, Pride Silicon focuses on designing highly reliable hybrid digital-analog automotive chips. The company is licensed to operate businesses such as IC chip design, manufacture and sales, software development, as well as auto parts R&D, according to Tianyancha.
To date, it has completed two rounds of financing. Its angel investor round closed in December 2021, attracting investors such as Walden international, Sunic Capital, Innoangel Fund and OFUND Angel.
The Xiaomi Group has so far invested in more than 100 chip, semiconductor and electronics companies over the past five years, whose businesses involve photoelectric chips, automotive chips, semiconductor manufacturing equipment. -conductors and other fields.