Home / Business and Economy / SpacemiT Secures $86M for RISC-V Chip Dominance
SpacemiT Secures $86M for RISC-V Chip Dominance
15 Jan
Summary
- SpacemiT raised over 600 million yuan ($86 million) in Series B funding.
- The company designs royalty-free, customizable RISC-V based chips.
- Their K1 chip is in mass production with over 150,000 units shipped.
SpacemiT, a Chinese chip manufacturer, has successfully closed a Series B funding round, raising more than 600 million yuan (approximately $86 million). The company plans to leverage this capital to expedite product commercialization and broaden its business operations, signaling strong growth potential in the competitive semiconductor market.
The Hangzhou-based firm specializes in designing RISC-V based chips, an open-standard architecture that allows for free creation and customization. This approach is gaining traction globally as companies seek more flexible and cost-effective chip solutions. SpacemiT's commitment to this technology positions them as a key player in China's push to advance its domestic chip industry.
Further demonstrating its market traction, SpacemiT announced that its first chip, the K1, has entered mass production, with over 150,000 units already shipped. These chips are being deployed in critical applications such as industrial systems, robotics, edge computing, and artificial intelligence-enabled devices, highlighting their versatility and demand across various high-tech sectors.
