Chinese auto chip maker SemiDrive secured RMB 1 billion ($140 million) in Series B+ on Monday. SAIC Jinshi Innovation Industry Fund led the round, CITIC Securities, Guozhong Venture, Shanghai STVC Group, Shanghai Zhangjiang, and others participated. The funding will be used to develop core tech, line up the next generation of auto chips, and expand production capacity. Founded in 2018, the firm raised RMB 1 billion last year in Series B. SemiDrive focuses on automotive-grade chips, focusing on chips for smart cockpits, autonomous driving, gateways, and microcontrollers. [21st Century Business Herald, in Chinese]