CCV leads round for China chip designer Cmind-Semi

The exact size of the round was not disclosed, but the company said it has raised several hundreds of millions of renminbi in the past 12 months. 

Walden provided initial funding in 2021. It re-upped last year in a round led by Legend Capital and featuring Junke Danmu Investment, and WestSummit Capital, according to AVCJ Research.

The new funding will go towards the mass production of Cmind-Semi's 4G chip and the development of its 5G chips. The company aims to deliver its 4G chip at the end of this year while the taping out of the first 5G chip is expected to happen in the third quarter.

Founded in 2021, Cmind-Semi is based in Zhuhai and has R&D centres in Shanghai, Hangzhou, Xi’an, and Shenzhen. It currently has more than 100 staff. The company targets three application fields: the internet of things (IoT), the internet of vehicles (IoV), and smart phones. 

The number of IoT devices in global circulation rose from 2bn in 2010 to 9.1bn in 2018, according to Machina Research. The total is projected to reach 25bn by 2025.

Developing a domestic semiconductor industry is a key policy item for the Chinese government. Private equity and venture capital investors have been active in the space for several years, looking to back the next generation of local champions.  

Overseas capital initially targeted artificial intelligence (AI) chips, also known as GPU or CPU chips, leading to bumper rounds for the likes of Biren Technology, Enflame Technology, Moore Threads, Metax Integrated Circuits and Iluvatar CoreX. Last year, momentum shifted to automotive chips, as demonstrated by investments in companies such as SiEngine Technology and Indiemicro.

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• Topics
• Greater China
• Early-stage
• Technology
• China
• semiconductor
• Walden International
• China Creation Ventures
• Legend Capital