The company, founded in 2007, has also announced it has received investment from Intel Capital and Beijing Singularity Power Investment Fund LP (SPC). Although the amount wasn't disclosed it is thought to be in the region of $6 million to $10 million.
The company’s IoT chipsets provide dual-mode connectivity (Wi-Fi & BT/BLE), powered by a single- or dual-core 32bit processor. Espressif's CPUs cores are generally Xtensa architecture cores licensed from Cadence/Tensilica. They are used in its ESP32 and ESP
With its integrated wireless MCUs Espressif achieved sales of one hundred million IoT chipsets by the end of 2017.
Espressif founder and CEO Swee Ann Teo said the new funding would be used for expansion into the field of artificial intelligence.
"With this investment deal, SPC offers Espressif the opportunity to seize momentum in China’s rapidly developing semiconductor industry by further optimizing its own strategic and operational capabilities, while also contributing to the rapid growth of the IoT industry," said Wang Jiaheng, Managing Director of SPC, in a statement issued by Espressif.
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