Cash Capital has reinvested in the semiconductor technology developer through a $46.3m series D round.

Cash Capital, the venture capital arm of Chinese Academy of Sciences, has contributed to a RMB300m ($46.3m) series D round for China-based semiconductor technology developer Southchip Semiconductor, Yicai Global has reported. Smartphone maker Vivo Communication Technology and venture capital firm Lightspeed China Partners co-led the round, which also featured Sequoia China and undisclosed new and existing investors. Founded in 2015, Southchip is focused on the development of semiconductors designed to control the charging of batteries in smartphones, computers and drones. Its customers include electronics producers Xiaomi and Lenovo. Proceeds will go towards product development and recruitment activities. The company is also planning to grow its share of the consumer electronics market and expand its business into new areas such as the automotive sector. Southchip raised $14.5m in a series B round in May 2019 that was led by the China Integrated Circuit Industry Investment Fund investing together with Cash Capital, Shunwei Capital and Chenhui Venture Partners. The business had closed a series A round of undisclosed size led by Shunwei in January 2018.

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