IDG Capital and Wanrong Hongtu have supplied $100m for ASR Microelectronic, which reportedly received the same sum in an Alibaba-backed round last year.
ASR Microelectronics, a China-based semiconductor producer backed by e-commerce group Alibaba, has closed a $100m series B round, China Money Network reported today.
The round was co-led by venture capital group IDG Capital and existing investor Wanrong Hongtu Fund.
Founded in 2015, ASR Microelectronics develops chips aimed at consumer electronics functionality, including mobile phone data, mobile navigation and the internet of things.
The company acquired the mobile business unit of US-based chipmaker Marvell in May 2017, and China Money Network…
