ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Chinese semiconductor startup raises $100m in Pre-A round

Innostar pulls in state-backed funds for production of ReRAM and storage chips

Innostar says the Chinese memory chip market could comprise 14% of the global market by the end of 2024.   © Reuters

SHANGHAI -- Shanghai-based semiconductor company Innostar has raised nearly $100 million in a Pre-A financing round led by returning backer Shanghai Lianhe Investment.

New Alliance, a 10 billion yuan ($1.5 billion) fund that targets technology, media, telecom and health care, also reinvested. New investors included state-backed Atlas Capital and KQ Capital, Innostar said in a Tuesday WeChat post.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more