NIO Capital has led an investment of $39 million in US software-defined chassis company ClearMotion. Separately, iSabers Materials, a Chinese startup offering advanced packaging solutions to the semiconductor industry, has closed almost 200 million yuan ($28.8 million).
NIO Capital leads $39m deal in Boston-based ClearMotion
NIO Capital, a mobility-focused investment arm of Chinese electric vehicle (EV) maker NIO Inc, has led a $39-million investment in US software-defined chassis company ClearMotion.
Beijing-based venture capital (VC) firm BAI Capital and US investment companies Franklin Templeton, NewView Capital as well as Acadia Woods Partners participated in the deal, according to an official statement earlier this week.
The new funding will be used for a planned 2024 launch of ClearMotion’s CM1 technology as the startup looks to expand globally, with China being one of its targeted markets. It currently operates from locations in Boston, the US, and Birmingham, the UK.
With a team of 170 employees, ClearMotion is building products to enable the next-generation user experience in vehicles by offering active suspension and proactive road-sensing software and hardware to mitigate vehicle movement across uneven road surfaces. Its CM1 is a patented high-bandwidth active suspension technology that cancels unwanted motion in the car to improve ride comfort, productivity, and safety.
Chip packaging startup iSabers Materials raises $29m
iSabers Materials, a Chinese startup offering advanced packaging solutions to the semiconductor industry, has closed almost 200 million yuan ($28.8 million) in its extended Series A round to expand its production scale.
A group of Chinese investment companies participated in the round, including Beijing Integrated Circuit Advanced Chip Fund, solar inverters manufacturer Sungrow Power Supply, Beijing Zhike Industry Investment Holding Group, Wofo Capital and CCB Trust. Yunqi Partners, an early backer of iSabers, announced in a company statement on Thursday.
The Series A++ round marked the fourth investment in iSabers within 12 months. Earlier, the startup closed “hundreds of millions of Chinese yuan” from investors such as Yunqi Partners, Cowin Capital and SoftBank China Venture Capital.
Founded in July 2020, iSabers mainly delivers advanced semiconductor packaging and integration solutions with a focus on semiconductor heterogeneous integration technology.
The technology enables semiconductor device manufacturers to combine functional components from different manufacturing process flows into a single composite device with complex and advanced functionality, helping address pain points that are commonly seen among the low-yield and high-cost traditional semiconductor materials and devices.