By Li Panpan

(JW Insights) Jul 24 -- Chipbetter Microelectronics (芯百特), a Chinese RF chip supplier, announced that it has recently completed a new round of financing of nearly RMB100 million($13.90 million), said the company recently.

It also announced the establishment of a subsidiary in Chengdu, southwestern China's Sichuan Province, focusing on the R&D, design, and production of the third-generation semiconductor RF chips and the development of the company's new product line.

The investors include Qizheng Investment and UMC Capital. The financing will be used for R&D investment and equipment procurement, said the company.

At a moment when semiconductor investment and financing tend to be in a downturn, Chipbetter Microelectronics’ new funding reflects investors' recognition of its value and strength in the field of RF chip technology.

Radio frequency chips are known as "the jewel in the crown of analog chips." With the continuous development of communication technology, the demand for RF chips continues to rise. According to Yole's forecast, the global RF front-end device market will grow from $12.405 billion in 2019 to $21.670 billion in 2026, with a compound annual growth rate of 8.3%.

Founded in 2018 and headquartered in Wuxi, eastern China's Jiangsu Province, Chipbetter Microelectronics wins its competitiveness from deep technical accumulation and continuous research and development. It has independently developed nearly 50 chips and achieved mass production of nearly 20 of them.

Its product line includes 5G, WiFi, IoT, V2X, and third-generation semiconductors, as well as customized radio frequency integrated circuits. The main application markets include consumer electronics, communication equipment, medical electronics, automotive electronics, Internet of Things and smart devices. Among them, the market share of WiFi FEM, Small Cell, and UWB positioning is in the leading position in China.

In the year of 2023, Chipbetter Microelectrnoic will focus on automotive chips and strengthen its original product lines, such as WiFi 6E and WiFi 7.

The market share of China's radio frequency chips is still relatively low compared with major international manufacturers, and there is a strong demand for domestic substitution in the country. It allows a better chance for Chipbetter Microelectrnoic, said the company.