Eswin raises $283M to boost chip production in China
The four-year-old firm stated the new round, a Series B, was led by Legend Capital, the investment arm of computer vendor Lenovo, and IDG Capital. Riverhead Capital Investment Management, Lighthouse Capital and state-backed Haining City and Zhejiang Province took part in the round.
BOE preserves a company relationship with Eswin, according to Chinese news outlet Caixin. BOE holds 37.35% of chip-related service in Eswin, the publication said.
Beijing Eswin Computing Technology, a Chinese start-up that supplies semiconductor styles and services, has actually raised $283 million in a brand-new financing round at a time when the world’s most populous country is wanting to cut its reliance on the U.S. and U.K. for chipsets.
In a press declaration, Eswin said it will invest the fresh capital on research study and manufacturing, recruitment and advancement. That, it thinks, will help stimulate the domestic chip production in China, which today relies greatly on U.S. and U.K. companies. In 2015, the U.S. blacklisted Huawei over security issues and trade disputes with China.