Beijing Eswin Computing Technology, a Chinese startup that supplies semiconductor design and solution providers, has raised $ 283 million in a new financing round when the world’s most populous country cut its dependence on the US and the UK for chipsets Wants to do
The four-year-old firm said the new round, 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 Henning City and Zhejiang Province participated in the round.
Avin Computing develops integrated chips and solutions focused on display and video, AI data processing and wireless connections. It also provides advanced packaging and testing solutions. The firm is led by Wang Dongsheng, who previously served as president of BOE Technology Group, a Chinese veteran who produces displays for TVs and smartphones and counts Huawei among its customers.
The BOE maintains a business relationship with Avin, according to Chinese news outlet Caixin. The BOE owns 37.35% of the chip-related business in Eswin, the publication said.
In a press statement, Eswin said it would spend fresh capital on research and development, manufacturing and recruitment. It is believed that it will help boost domestic chip production in China, which today is the U.S. And much depends on UK companies. Last year, the US blacklisted Huawei over security concerns and trade disputes with China.