Espressif Systems (or “Espressif”), a leading global IoT semiconductor company, announced today that it has received investment co-led by Intel Capital and Beijing Singularity Power Investment Fund L.P. (SPC).
Espressif Systems’ Founder and CEO Swee Ann Teo (1st from left) and the CEOs of other invested companies
Espressif helps power the devices that are key to the Internet-of-Things (IoT) industry. The company’s IoT chipsets provide dual-mode connectivity (Wi-Fi & BT/BLE), powered by a 32-bit, single- or dual-core processor in all-in-one SoCs with excellent price performance. Gartner profiled Espressif in the category of “Cool Vendors in ‘IoT Thingification’ 2016,” and Techno Systems Research Co. Ltd, a Japan market research company, ranked Espressif first in the MCU Embedded WiFi sector in 2017. With highly integrated MCU embedded Wi-Fi solutions, such as the popular ESP32 and ESP8266, Espressif achieved sales of one hundred million IoT chipsets by the end of 2017. This new round of investment is another milestone in Espressif’s development and will strengthen the company’s R&D capabilities and help increase its market influence.
Espressif Systems’ Founder and CEO Swee Ann Teo at the Intel Capital Global Summit
Espressif Founder and CEO Swee Ann Teo said: “We are honored to receive investment from Intel Capital and SPC. This new funding will assist our expansion in the field of Artificial Intelligence, take our IoT solutions to the next level and allow us to remain at the forefront of today’s technological innovation.”
Anthony Lin, Intel Capital Vice President and Managing Director of Greater Asia and Europe, commented: “Intel Capital is committed to propelling data-driven technological innovation and promoting the transformation of smart technology industries. Espressif has demonstrated its ability to create innovative IoT solutions with a competitive edge. We look forward to working with the company to help unlock the potential for data in a new era of smart and connected devices.”
Wang Jiaheng, Managing Director of SPC, stated: “Espressif Systems is a leading company in the IoT industry and has gained a competitive advantage in the field of embedded Wi-Fi solutions by building a reputation for delivering innovative products. The company has a track record of responding to customer needs and constantly improving user experience with cost-effective and easy-to-use IoT solutions. 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.”
About Espressif Systems
Espressif Systems (Shanghai, China) is a multinational, fabless, semiconductor company that creates low-cost and high-performance solutions for the Internet-of-Things industry. The company’s all-in-one system-on-chips (SoCs), such as the popular ESP8266 and ESP32, provide dual-mode connectivity (Wi-Fi+BT/BLE) to a wide range of IoT products, including tablets, cameras, smart-home devices and wearable electronics. For more information on the products and services that Espressif offers, visit www.espressif.com.
About Intel Capital
Intel Capital invests in innovative startups targeting artificial intelligence, autonomous driving, workload accelerators, 5G connectivity, virtual reality and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US $12.3 billion in over 1,530 companies worldwide, and more than 660 portfolio companies have gone public or been acquired. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
About Beijing Singularity Power Investment Fund L.P. (SPC)
Beijing Singularity Power Investment Fund L.P. (SPC) was initiated and established in 2015 by the BOE Technology Group, National IC Industry Investment Fund, Yizhuang SDIC, and industry leaders. SPC is headquartered in Yizhuang, Beijing, and has research centers in such areas such as Zhongguancun in Beijing and Silicon Valley in the USA. The initial investable funds of SPC totaled RMB 4bn (USD 600m). SPC mainly focuses on integrated-circuit design, human-computer interaction, the Internet of Things and Artificial Intelligence.
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Espressif Systems
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Joyce Li, Director
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