(Yicai Global) April 7 -- China's Yunsilicon Technology, a 10-month-old developer of cloud computing chips, has finished its second fundraiser in the past six months.
The semiconductor company completed its pre-Series A funding round worth hundreds of millions of Chinese yuan, led by venture capital firm Lightspeed China Partners, the Shanghai-based startup said in a statement on its website yesterday.
Founded in May 2021, Yunsilicon develops processors used in data centers and cloud computing infrastructure. Before establishing the company, founder Liu Yongfeng worked for US conglomerate Cisco Systems, Chinese e-commerce giant Alibaba Group Holding, and telecoms equipment manufacturer Huawei Technologies.
Last October, Yunsilicon gained hundreds of millions of yuan via an angel round that included IDG Capital, chip developer Biren Technology, and TikTok’s parent Bytedance Technology.
The proceeds from the latest fundraiser will be spent on research and development, as well as product commercialization. After the pre-Series A, Yunsilicon will rely on enriched industry resources to strengthen its technical prowess, expand its client systems, and facilitate large-scale implementation of products, said Chief Executive Liu.
The rapid growth of digital transformation, artificial intelligence, and Big Data applications has driven a huge surge in computing power demand, said Zhu Jia, partner at Lightspeed China. After the central processing unit and the graphics processing unit, the data processing unit has become the third significant chip for computing power, Zhu added.
Editor: Emmi Laine, Xiao Yi