By Greg Gao

(JW Insights) Sep 7 -- Zenosic(篆芯半导体), a network chip vendor, raised nearly RMB300 million($41 million) in Series A1 financing recently, the company announced.

Leading the financing in this round are Sincere Capital and GPRO Investment, and several other VCs including Xinyuan Furui and Ningmeng Investment.

The funds raised will be used to accelerate product development, said the company.

Zenosic was founded in 2021 and is based in Nanjing, eastern China’s Jiangsu Province. It specializes in the design and development of high-performance network chips. Zenosic’s core team is composed of senior technical experts and marketing professionals with multiple successful experiences in similar chip development. The company has an R&D team of over 100 people, with research teams established in Nanjing, Shanghai, Shenzhen, Chengdu, and other places.

The company completed nearly RMB100 million($13.6 million) in angel financing in 2022. At that time, its main product, network chips, was still in the design stage. It has completed product design and is about to start tape-out, bringing it closer to supplying products to mainstream network equipment suppliers in China. Zenosic has entered into strategic partnerships with several leading industry manufacturers, according to Chinese tech media outlet 36Kr.