HJ Micro, a Chinese developer of central processing units (CPUs), has raised 800 million yuan ($120.1 million) from lead investors including GL Ventures. Separately, distributed cloud computing startup PPIO has closed its Series A round at almost 250 million yuan ($37.6 million).
CPU developer HJ Micro nets $120m
HJ Micro, a Chinese developer of CPUs used in data centres, has secured a total of 800 million yuan ($120.1 million) in its angel and Series Pre-A rounds to attract talent and invest in research infrastructure.
The two rounds were led by US venture capital firm Walden International, Hillhouse Capital’s GL Ventures, and CDH Venture and Growth Capital, the venture arm of Chinese alternative asset manager CDH Investments.
The country’s artificial intelligent (AI) chip developer Biren Technology, semiconductor fund Xinlanwei, Xingrui capital, and CD Capital, which invests in the new energy sector, participated in the round. Other investors include Green Pine Capital Partners, Creo Capital, Zhongyiren Investment, Haihe Qirui Capital, and Xiao Ventures.
Hangzhou-based HJ Micro is the latest startup in China’s increasingly popular semiconductor sector to raise capital from venture investors. Other firms to have recently closed funding rounds include Gowin Semiconductor Corp, SJ Semiconductor, Innoscience Technology among others.
PPIO raises $38m Series A round
Chinese distributed cloud computing startup PPIO on Tuesday announced the completion of its Series A funding round at almost 250 million yuan ($37.6 million), bringing the startup’s total fundraising size to over 400 million yuan ($60 million).
Panlin Capital, China Creation Ventures, and Zhangjiang Science & Technology Investment Corp invested in the Series A round, alongside US and China-focused IMO Ventures. Existing shareholders BlueRun Ventures China, AlphaX Partners, and HUA Capital re-upped in the deal.
The Series A round followed the completion of its Series Pre-A round at 100 million yuan ($15 million) in May 2021. Its 60-million-yuan ($9 million) angel round secured investments from 19 entrepreneurs including Wang Xiaochuan, who founded Chinese search engine operator Sogou Inc and sold it to tech giant Tencent in 2021 in a deal worth $3.5 billion.
PPIO was founded in 2018 by Chinese entrepreneurs Yao Xin and Wang Wenyu, who had created the video streaming platform PPTV. The startup offers a platform for developers to store and exchange decentralised app data, private and enterprise data, as well as to distribute media content.
With the new funding, the startup plans to increase investment in technological R&D and edge computing infrastructures. It will focus on the development of solutions and products that enable ultra-low latency experience in video streaming, cloud rendering, and Internet of Vehicles (IoV).