Changzhou Chemsemi Co., Ltd. announced that it has received $157,000,000 in its series A round of funding led by Summitview Capital and China Internet Investment Fund, a fund managed by China Internet Investment Fund Management Co., Ltd. on January 19, 2022. The transaction included participation from new investor Hubei Xiaomi Yangtze Industry Fund Partnership Ent. (L.P.), a fund managed by Hubei Xiaomi Yangtze River Industry Investment Fund Management Co., Ltd., Huaxing New Economic Fund, CICC Investment Group Company Limited, Qitai Capital, Quick Intelligent Equipment Co., Ltd., Changzhou Hi-tech Group Co.,Ltd, WI Harper Group, Wuxi Guolian Capital Management Co., Ltd., Xinyi Capital, Hangzhou Zhihetong Technology Co., Ltd., WI Harper Lucion Fund and Jintaifu.

The company issued common stock in the transaction. The registered capital of the company increased from CNY 438,000,000 ($69,000,000 ) to CNY 653,000,000 ( $102,914,106) an increase of 48.98%. The company has made a registration change with the Industrial and commercial administration.