EIGENCOMM Technologies Ltd. (hereinafter referred to as "EIGENCOMM"), a cellular IoT baseband chip design company, officially announced that it has completed a B financing round of multi-hundred million yuan. In addition to V Fund, Qiming Venture Partners, China Universal Asset Management Co., Ltd, CM Capital and many other well-known investors participated in this round of financing, while Series A shareholders Vertex Ventures China, PDSTI, Xingwang Investment, Shenzhen Capital Group Company and FengHuo Industrial Fund continued to make additional investments.

Founded in February 2017, EIGENCOMM is engaged in the development and sales of cellular mobile communication chips and softwares, and is committed to designing the world's ultimate cost-effective cellular IoT baseband chips.

EIGENCOMM has a rich history and experience in cellular communication chips. EIGENCOMM insists on independent innovation, and all core technologies are self-researched. Globally, EIGENCOMM is one of the very few companies, other than giants such as Qualcomm, Hisilicon, Samsung, MTK andUnisoc, that have the ability to develop their own cellular chips. 

The EC616 and EC616s NB-IoT chips have been successfully developed by EIGENCOMM and have been approved by operators and many head communication module companies for their "low cost, low power consumption, high performance, high reliability and wide voltage" features, and have both been shipped in large volumes. Meanwhile, the Cat1bis chip EC618 is also under development and is expected to be available in mass production in 2021.

Since the beginning of this year, EIGENCOMM has had a lot of good news in the market.

In February, after a long period of market research and comparative evaluation, the global communications chip giant signed an agreement with EIGENCOMM to fully cooperate on a series of products such as EC616.

In April, Jiangsu Telecom's NB-IoT communication module tender, EC616 accounted for 60% share in the non- Hisilicon bid.

In June, Zhejiang Telecom NB-IoT communication module tender, EC616 won 100% of the non- Hisilicon & non-MTK bids.

In September, Shanxi Telecom NB-IoT communication module tender, EC616 won 100% share of non- Hisilicon bid.

With the new infrastructure and 2G/3G decommissioning, most of the 2G service scenarios will be taken over by NB-IoT and the rest by Cat1/1bis. 3G service scenarios will be taken over entirely by Cat1/1bis. Some of the 4G service scenarios will also be undertaken by Cat1/1bis due to cost reasons. EIGENCOMM will seize the opportunity of era and continue to launch cellular IoT chips that meet the market demand and make unremitting efforts for independent innovation of domestic chips.

Zhu Feng, Partner of V Fund, said: "The Internet of Everything is unstoppable, and there is great room for the development of communication chips as the basic hardware of IoT. From the perspective of current market choices and policy guidance, NB-IoT and CAT-1 are expected to become the mainstream solutions for IoT connectivity. EIGENCOMM team under the leadership of Mr. Liu Shi has extensive experience and is a global leader in technology, and is one of the very few companies capable of independently developing cellular baseband chips. The company's NB-IoT chips have been unanimously recognized by customers for their excellent cost-efficiency, while the company's CAT-1 chips are also expected to be launched in 2021. V Fund continues to focus on the IoT track, and is also firmly optimistic about EIGENCOMM’s technical merits, product implementation capabilities and commercial level and believes in the company’s future development potential."