China's ASR joins ranks of hardware unicorns

June 08, 2020 //By Peter Clarke
China's ASR joins ranks of hardware unicorns
Communications chip startup ASR Microelectronics (Shanghai, China) has raised $119 million in a Series D-plus round of financing.

The funding brings the amount raised by the company to more than $330 million and an implied company valuation of $1.6 billion, according to reports. Investors include Sequoia, China Broadband Capital and GL Ventures.

'Unicorn' is the term used to describe a private startup company with a valuation of more than $1 billion and is much more common in the software and technology services sector than in semiconductors.

ASR Microelectronics (Shanghai) Co. Ltd. was founded in April 2015 by Vincent Tai, chairman and CEO. ASR raised $100 million in a Series B round in 2018 and in May 2017 acquired the mobile business unit from Marvell Technology Group.

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