Existing investor Septwolves returned as the IoT semiconductor maker secured about $28m that will fuel research and development.
China-based internet-of-things (IoT) chipmaker Xinyi Information Technology has received almost RMB200m ($28.3m) in series A-plus financing from investors including tobacco and apparel brand Septwolves, DealStreetAsia reported yesterday.
Private equity firm CTC Capital led the round, which included Septwolves vehicle Septwolves Venture Capital as well as Sinowisdom Capital, Frees Fund and Orient Jiafu Asset Management, according to a WeChat post by CTC Capital.
Founded in March 2017, Xinyi provides IoT communication chips that utilise an ultra low-power design. The capital will…
