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China's Eigencomm raises 1bn yuan from SoftBank fund

Startup chipmaker aims to produce cheaper, more efficient 5G chips for IoT

Shanghai Eigencomm Technologies has raised over $157 million from SoftBank, Qiming Venture Partners and other Chinese venture capital funds. (Courtesy of Shanghai Eigencomm)

SHANGHAI – Shanghai Eigencomm Technologies, a startup Chinese chipmaker, announced on Wednesday that it has raised a billion yuan ($157 million) from SoftBank Group’s Vision Fund and other investors.

Eigencomm was established in 2017 and develops chips for the Internet of Things (IoT). Its products are used in a wide range of products, including smart meters and fire sensors.

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