Chipone Technology, a Chinese chipmaker, said it has raised a hair above US$1 billion in a series E round that pushes its valuation to over US$4.7 billion. The round was led by Oceanpine Capital, with participation from CITIC Private Equity, GGV Capital, and Unic Capital.
Photo credit: phuchit / 123RF
Chipone is a Beijing-based research and development firm that sells integrated circuits for electronics manufacturers and lighting system providers. It offers chips for displays and touch screens, among others.
It plans to use the new capital for further tech development, as well as to onboard more long-term suppliers and make new hires.
Chipone was founded by Zhang Jinfang, who also serves as its CEO. In 2019, the company tapped China International Capital Corporation in preparation for its initial public offering. However, the chipmaker halted its IPO plans last year.
Other investors in its latest round include:
- CCB Private Equity Investment Management
- Prosperity Investment
- Beijing Singularity Power Investment Management
- Silk Road Huachuang Investment Management
- Vivo
Editing by Collin Furtado and Lorenzo Kyle Subido
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