XinYaohui, a leading chip IP company, has raised over 500 million yuan in its Series A round, led by Gaorong Ventures.
Empowering China's integrated circuit industry upgrade through innovative IP technologies.
On May 19, XinYaohui, a leading chip IP company, announced it had raised over RMB 500 million in its Series A round. Having secured nearly RMB 1 billion in total funding less than a year after its founding, the company has established itself as a top player in the chip IP space. The round was led by Gaorong Ventures, with participation from Matrix Partners China, Lanpu VC, the University of Macau Development Foundation, and the Macau University of Science and Technology Foundation. Existing investors HSG, Hillhouse, Pine VC, Yunhui Capital, Guoce Investment, and Da Hengqin Group all continued their support. In February 2021, Gaorong Ventures had previously invested in XinYaohui's Pre-A round.
The funds will go toward attracting top R&D talent and accelerating XinYaohui's advanced process IP technology roadmap and product development. The company has recently assembled world-class chip design talent, including Anwar Awad, who joined as global president, and IEEE Fellow Professor Yu Chengbin, who became co-CEO — strengthening its "dream team" of product developers. XinYaohui will continue building out its R&D organization, with the Guangdong-Hong Kong-Macao Greater Bay Area as its hub and reach extending nationwide, to speed up product development.
"I'm pleased that in our push to advance China's homegrown chip IP R&D, we've found like-minded partners both new and old," said Ken Zeng, XinYaohui's chairman and co-CEO. "Since day one, XinYaohui has moved fast to get our IP products into customer applications. We've successfully brought a rich portfolio of IP products and services to market quickly, exceeded our sales targets for 2021, and achieved rapid revenue growth. The strong vote of confidence from investors and industry gives us great conviction in our mission to empower China's integrated circuit industry upgrade through innovative IP technology."
Yu Chengbin, XinYaohui's co-CEO and managing director for Macau, added: "Our R&D team is focused on developing 28nm, 14nm, 12nm, and N+2 advanced process IP and services. We've already rolled out product solutions covering DDR, PCIe, HDMI, USB, SATA, and MIPI. We believe XinYaohui's technology and products will bring new momentum to chip innovation and power China's digital transformation."
Bin Yue, founding partner of Gaorong Ventures, commented: "Chip design is a critical technology industry for China and the world, and we've maintained close attention to this space. As a key enabler of chip design, IP is an essential component of China's chip design ecosystem. XinYaohui has gathered top global IP talent, and crucially, the team has moved quickly to bring advanced process IP products and services to market. We're very optimistic about XinYaohui's potential to empower every important domain of the digital society going forward."
About XinYaohui
XinYaohui is a high-tech company dedicated to advanced semiconductor IP R&D and services, empowering chip design and system applications. Through self-developed advanced process chip IP products, the company responds to China's rapidly growing chip and application demands, providing comprehensive enablement for chip design. With its IP products' distinctive strengths in high stability, strong compatibility, cross-process portability, and adaptability, XinYaohui serves critical domains of the digital society, including data centers, smart vehicles, high-performance computing, 5G, IoT, AI, and consumer electronics.
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