(Yicai) Sept. 6 -- GTA Semiconductor, a Shanghai-based chipmaker, has completed its CNY13.5 billion (USD1.9 billion) round of funding to push on to replace imported products.

Multiple state funds, industrial investors, regional funds, and famous investors joined the latest fundraiser of the maker of semiconductors used in fields such as automotive, smart grid, and rail transport, Shanghai-based venture capital firm Pudong Innotec wrote in a statement recently without disclosing more financial details. 

For now, only Jasper Capital is known to have participated in the latest fundraiser as the investment firm said it poured about CNY120 million (USD16.4 million) into GTA, according to a WeChat article. Jasper Capital said that leading domestic chip vendors, such as GTA, have broad development opportunities as buyers are looking for domestic alternatives to imported chips while the national strategy emphasizes the importance of domestic production. 

Founded in 2017, GTA produces chips used in various fields, including industrial and power equipment. In 2021, the firm secured CNY8 billion of funding from over 20 state funds and investment institutions, including Shanghai Integrated Circuit Industry Investment Fund Management and Xiaomi Yangtze River Industrial Fund Partnership. The startup's first round was closed in 2019.

GTA has set up two plants in the Lin-gang Special Area of China Shanghai Pilot Free Trade Zone and the eastern city's Xuhui district and the combined capacity is about to reach 280,000 wafers per month.

Editor: Emmi Laine