China’s Tsing Capital has led a RMB92 million (US$14 million) series C round in Smarter Micro, a Chinese semiconductor company that develops products serving smartphone makers.
Existing investors GSR Ventures and Vertex Ventures also participated.
"The smartphone market is a massive one. Smarter Micro’s products are at the core of the entire value chain, which positions the company to great potential growth," says Zhu Jia, investment manager at Vertex Ventures.
Founded in 2012, Smarter Micro previously received series A investment from GSR Ventures that year and completed a series B round from Vertex Ventures and GSR Ventures in 2014.
The smartphone market is expected to reach three billion units in 2018, with strong growth from the 3G and 4G/LTE segments, the company says in an announcement (in Chinese).