Series A Foundraising for a Chip startup

Deep Synergy helped in closing a 150 million RMB (around 20.85million USD) Series A for a cutting-edge SoC baseband chip startup , then secured multimillion-yuan talent grants and subsidies from the Wuxi municipal government.

Deep Synergy  Case | Series A Foundraising for a Chip startup

Project Background

• The founding team hails from the leading U.S. TVWS company and consists predominantly of U.S.–Chinese talent from UC Berkeley, Qualcomm, and Huawei. The team holds complete 5G/Wi-Fi dual-mode baseband SoC IP and has a proven track record in mass production. The US entity has secured multi-million-dollar purchase orders from Microsoft and Facebook, as well as tens of millions in early-stage funding from top-tier investors on both sides of the Pacific.

Project Pain Points

• Due to the U.S.–China tech conflict, the core chip patents must be transferred from the United States to China.
• The company lacks experience in engaging with Chinese industrial capital and local governments for onshore establishment.

Solutions

Industry Mapping: Conducted sector and policy-fit analyses across ten-plus regions, selecting the Wuxi National Hi-Tech District as the optimal landing zone.
Capital Sourcing: We teamed up with a US investment bank to introduce over 30 top-tier market investors.
 • Deal negotiation: Served as the liaison between government, business development (BD) and corporate landing, securing tens of millions in equity and subsidy packages from Wuxi to cover equipment procurement, R&D grants and talent incentives.
 • End-to-end hand-holding: Curated the investor deck, drafted the landing plan, led due diligence support, filed subsidy applications, and managed the entire greenfield process.

Project Outcomes

Q3 2021: Signed with the Wuxi National Hi-Tech District and delivered a full landing blueprint, aligning with government agencies on policy implementation.
• In Q2 2022, in collaboration with a US investment bank, we closed the Series A round, with participation from several renowned semiconductor funds.
 • The company entered into a two-year advisory agreement with Deep Synergy for ongoing post-landing support.