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2020-04-30Browse：5822
Sharpen a sword for 5 years to initiate the "core" journey of entrepreneurship
On April 30, 2020, ASR officially announced the completion of the last round of financing before the share reform. This round of financing took only 2 months, with a financing scale of US$119 million, and attracted many famous investors from home and abroad. So far all the funds have been received and the financing brings ASR's valuation to US$1.6 billion.
This round of investment is led by China Internet Investment Fund, and joined by Pudong Science and Technology Innovation Group, Sequoia Broadband Digital Industry Fund, Lakeside International, GLV, Zhangjiang Science and Technology Investment, Shanghai Free Trade Zone Fund, Hua'an Holding Group, Shanghai Science and Technology Investment Group, etc. TCL Venture Capital participated in this round as a strategic investor.
The lead investor, China Internet Investment Fund (CIIF), is a national fund approved by the State Council and co-sponsored by the Office of Central Cyberspace Affairs Commission and the Ministry of Finance. CIIF says that ASR not only has all-network mobile communication technology and products, but also has laid out products in LoRa, WiFi, Bluetooth and other fields, and is a key upstream force to promote the development and popularization of IoT connectivity technology in China. With the national strategy as the guide, CIIF focuses on screening companies that are in line with the national strategy, have core technology and independent innovation capability, and both good social benefits. We expect ASR, a company with independent technology and dynamic innovation, to achieve rapid and high-quality growth and development in the future.
The Emerging Industry Investment Co., Ltd., a subsidiary of Pudong Sci-Tech Investment Group, has actively participated in this round of financing. As a founding shareholder of ASR, Pudong Sci-Tech Group has participated in several rounds of financing for ASR and firmly believes in the chip design team led by ASR's founder Mr. Dai Baojia. The investor affirms ASR's profound accumulation in various tracks such as cellular baseband, WiFi and Bluetooth and is confident in the market opportunities. We believe that in the near future, ASR will quickly become one of the top chip design companies in China with top R&D strength and technology reserve.
As a pre-investment institution, Shanghai FTZ Fund invested in ASR again, and says: "We are very optimistic about ASR's comprehensive advantages in technology, market and management team in the industry, and Shanghai FTZ Fund will continue to support the company to contribute to the development of “China core" and grow up into a top domestic chip design company.
Sequoia Broadband Digital Industry Fund says: we are quite optimistic about the mobile chip business of Marvell that had been acquired by ASR, especially the IP and core technology of ASR in the field of baseband chip shows obvious competitive advantage and good development prospect in China. ASR is another large-scale project of Sequoia Broadband landing in China after LinkedIn, Airbnb, Evernote and ARM. It is also another investment in the field of chip industry after the investment in ARM China.
Thanks to the trust and support of many investors, ASR will continue to embark on the journey to make the "China core" dream come true and head for the next milestone together.
