Beijing (Gasgoo)- On January 2, Chinese automotive chip supplier Flagchip announced the successful completion of its B+ and B++ funding rounds, which raised for the company hundreds of millions of yuan.
The financing rounds attracted substantial investments from Beijing Huakong Technology, SND Financial Holdings, SND Group, Wuxi Guojing Semiconductor Industry Investment Fund, and a fund under CRRC Capital.
The proceeds from these two funding rounds will expedite Flagchip’s R&D and production of next-generation domain controller chips, bolstering their presence in the automotive controller chip sector globally. The company aims to expand operations and strengthen domestic and international market penetration.
Amidst challenging capital landscapes, Flagchip's successive funding rounds underscore investor and industry confidence in the company's robust R&D capabilities and rapid commercialization endeavors, said the company. Founder Wan Yucong expressed determination to harness technological prowess and industry resources to maximize Flagchip's contribution in the automotive sector.
In 2023, Flagchip achieved significant milestones in product commercialization. The FC4150 series, its inaugural automotive-grade product line, secured AEC-Q100 automotive-grade certification and ISO26262 ASIL-B product certification. FC4150 serves various automotive applications, including BCM+, BMS, lighting, motor control, HVAC, TMS, and T-BOX. FC4150 was successfully delivered to clients in 2023.
Moreover, the latest ASIL D HPU - FC7300 series, introduced to automakers and Tier1 suppliers in 2023, is currently undergoing development testing after sample provision to customers in February 2023. FC7300 is suitable for domain controllers, suspension, 800/400V BMS, EPS, among other domains, slated for mass production in the first quarter of 2024.
Additionally, the cost-effective FC7240 series, unveiled in November 2023, concluded initial testing and will offer customer samples in February 2024.
