On Friday, Chinese display chip solutions provider Chipone Technology (Beijing) Co., Ltd. announced that it had completed its round E of financing, which exceeded 6.5 billion yuan ($1.02 billion) and lifted the company’s valuation to above 30 billion yuan ($4.7 billion).
Zhang Jinfang, CEO of Chipone, said that this round of financing will be used to enhance the company’s continuous investment in the R&D of technologies and talent recruitment, and to help the company establish long-term and sustainable capacity cooperation with core suppliers.
This round of financing is led by Oceanpine Capital, while other investors include industrial investment institutions such as Vivo and Unic Capital, as well as well-known institutions such as CCB Private Equity Investment Management, CDB Capital, Oriza Rivertown, GGV Capital and CGP Investment. Previous shareholders such as CPE, Singularity Power Investment Management, Silk Road Huachuang Investment Management, Zhuhai Huajin Capital also added investment.
Together with investors such as China Fortune-Tech Capital, TCL Capital and Xiaomi, which were introduced in previous rounds of financing, as well as institutions such as E-town Capital and Sdic Venture Capital, the shareholders of the company include many well-known industrial, state-owned and financial investors.
Its official website shows that Chipone is a chip design company focusing on the display field with global competitiveness. The company’s products cover all kinds of display chips such as TDDI (Touch and Display Driver Integration), medium- and large-sized display driver ICs (LDDI) and OLED driver ICs. Its customers include global leading panel factories and leading Chinese smartphone brands.
Since its establishment in 2008, Chipone has been committed to the development of display chip technology. The company launched the first Chinese TDDI chip in 2018 and realized its mass production. In 2019, the first mini-LED display driver chip supporting as low as 0.4 mm pitch in China was launched by Chipone. The company then launched the first medium- and large-sized display driver chips supporting 4K resolution in China in 2020. Finally, the first AMOLED display driver chip mass-produced for top brand customers in China was launched in 2021.