Founded only 9 months ago, the common smart chip design company, Biren Technology, recently announced the completion of Series A funding of RMB 1.1 billion, a new record for Series A funding in the same industry in recent years, which is especially valuable in the "post-epidemic era".
V Fund participated in this round of financing, which was co-led by well-known investment institutions and industry parties like Qiming Venture Partners, IDG and Walden International China Fund, Gree Venture Capital, Green Pine Capital, China Development Bank Capital, Meriden China Capital, CCI Holdings, Glory Ventures. It is reported that the funds will be used to accelerate technology product development and market expansion.
“We are honored to receive the recognition and support of many top investment institutions," said Wen Zhang, founder and CEO of Biren Technology, “the founding of Biren Technology comes at a critical moment in the development of China's semiconductor industry, when revolution are at the corner. We hope to take up the responsibility and be a part of the great mission to change the Chinese chip industry."
Founded in 2019, Biren Technology has a team of core professionals and R&D personnel in the field of chip and cloud computing at home and abroad, who have accumulated profound technology and unique industry insights in the fields of GPU, DSA (a dedicated accelerator) and computer architecture. Biren is committed to developing an original general computing systems and establishing an efficient hardware and software platform, and providing integrated solutions in the field of intelligent computing. In terms of development path, Biren Technology will first focus on cloud-based general intelligent computing, and gradually outperform existing solutions in various fields such as artificial intelligence training and reasoning, graphics rendering, and high-performance general computing to achieve a breakthrough in domestic high-end general intelligent computing chips.
Biren Technology aims to be a high-tech company with an international vision, leading technology, and participation in setting future industry standards, providing powerful, flexible and efficient general-purpose computing power to a wide range of industries.
According to Ms. Yan Xiong, co-founder of V Fund, "The strengths of Biren Technology lie in its star team, comprehensive advantages in research, technology, engineering, marketing and capital in the semiconductor industry, and the strategic vision and market foresight of its founders. Future investment opportunities in China's hard technology industry are mainly driven by technological innovation. Unprecedented opportunities will be created in this sector as a result of the wave of domestic substitution of core technologies, the massive capital investment in new infrastructure, and the opening of the SSE STAR MARKET for hard technology exit channels."
Founded in 2015, V Fund has been focusing on investments in advanced manufacturing and hard technology sectors. Through our team's forward-looking judgment and keen ability to capture development opportunities in the field of technology innovation, in less than five years of its establishment, we has invested in projects of leading companies in various segments, including but not limited to Biren Technology, CATL, Geek+, Farasis Energy, YUNDA, Cloopen, Ronbey Technology, CHEMSPEC, Smarter Micro, YUANNIAN and other leading enterprises.
Six projects have been listed, and it is expected that the total number of listed projects will exceed 15 in the coming year. In the future, relying on the team's in-depth industry knowledge in the field of technology and innovation, rich industrial resources, the industrial map of invested projects and inimitable capital operation experience, we will continue to cultivate in this field and strive to become the most professional investment institution in this niche area, and become an important capital bridge for China's industrial upgrading and transformation.