Sequoia Capital China has led a Series A funding round of close to RMB 1 billion ($148.2 million) for Chinese auto tech startup SiEngine Technology, reports Nikkei Asia. The fresh capital will allow SiEngine to boost delivery of existing products as well as increase research and development of powerful vehicle-grade computer chips, according to a Tuesday WeChat post by investment bank Index Capital, which led the round.
Boyuan Capital, the China investment arm of German technology group Robert Bosch, semiconductor-focused China Fortune-Tech Capital and former Alibaba Group CEO David Wei’s Vision Knight Capital participated in the round.
Other investors included Shanghai Guosheng Capital, Hundreds Capital, Cedarlake Capital, Yuesiu Industrial Investment Fund Management, ICBC International and Neusoft Capital.
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