Chinese integrated circuit (IC) design service provider MooreElite has raised RMB100 million (US$14.40 million) in series A round of financing, led by THG Ventures and State-owned Hefei Hi-tech Technology Venture Capital, according to an announcement.
Established in 2015 and headquartered in Shanghai, MooreElite is an IC design accelerator, providing IC design service, supply chain management, talent service and incubation service. It also provides ASIC design and turnkey solutions, as well as chip algorithm and its delivery.
Some of their services also include chip architecture planning, IP Selection, testing services and digital front-end design.
The company has offices in eleven cities, including Beijing, Shenzhen, Hefei, Chongqing, Suzhou, Guangzhou, Chengdu, Nanjing and Xiamen, as well as Silicon Vally in the United States.
Launched in 2015, Beijing-Based THG Ventures is a venture capital firm backed by state-owned Tsinghua Holdings, which manages around RMB 10 billion (US$1.44 billion) in its assets.
The venture capital firm mainly invests in healthcare, semi-conductor and artificial intelligent sectors. It claims to have invested in over 140 companies.
It has invested in Hinacom Software and Technology, a healthcare IT company focusing on the medical imaging technology, Shenzhen-listed Beijing Highlander Digital Technology, a maritime surveillance systems developer, and iReal , a rail transportation IT solution provider.
Founded in 2015, Hefei Hi-tech Technology Venture Capital, with RMB3 billion (US$431.54 million) assets under management, manages funds of seven state-owned fund of funds (FOF), aimed for investing in different sectors as well as enterprises in different phases of development.