Eigencomm Completes C-Round of Financing with Softbank Vision Fund 2 as Leading Investor

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On Wednesday, Shanghai Eigencomm Technologies Ltd.  announced the completion of its C Round of financing worth 1 billion yuan. The leading investor was Softbank Vision Fund 2, co-investors were Cathay Capital, Costone Capital, GF Qianhe Qiaobei Chobe Capital, along with existing shareholders Qiming Venture Partners Capital, Fenghuo Capital, Fellow Partners, Xingwang Investment and China Universal Asset Management Capital.

The funds are marked for the continuous research and development and innovation of global 5G communication chips.

Eigencomm was established in February 2017 and is located in Zhang Jiang High-Tech Park, Shanghai. It is one of the leading cellular mobile communication chip designers in the world, and is dedicated to designing chips for the cellular Internet of Things. The company is aiming for chips with the best performance and the highest cost performance. In the global community, Eigencomm is one of the few companies capable of independently researching cellular communication chips apart from large companies such as Qualcomm, HiSilicon, Samsung, MTK and UNISOC.

Eigencomm has successfully researched and developed and mass-produced two NB-IoT chips, the EC616 and EC616S. Featuring “low cost, low power consumption, high performance, high reliability and wide voltage”, Eigencomm has won praise from module vendors and global chip giants. Its products in core-moving communication have been widely applied in subdivisions such as smart meters, intelligent fire protection, bike-sharing, asset tracking, and home appliances.

Business-focused 5G is ushering in prosperous development worldwide. According to the Global Mobile Supplier Association (GSA), as of April 2021, 153 operators in 64 countries and regions are operating 5G business-focused networks. By the end of August 2021, more than 1 million 5G base stations had been built in China, accounting for more than 70% of the world total. In addition, the number of 5G terminal connections has now exceeded 400 million.

As an important part of network connection infrastructure, 5G links new intelligent hardware, robots, AR/VR, big data, AI and other technologies. The new linkages help connect the capabilities of people and  data across a variety of industries, including medical care, transportation and energy, and others and are changing the way the world does business.

SEE ALSO: Moffett AI Completes Round A Financing

It has always been the key research direction of mobile communication service operators and network equipment manufacturers to explore how to reduce the cost and power consumption of 5G technologies and scaling the application and development of global terminals.

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