Espressif Systems, a Shanghai, China–based global IoT semiconductor company, received an investment co-led by Intel Capital and Beijing Singularity Power Investment Fund.
The amount of the deal was not disclosed.
The company intends to use the funds to strengthen its R&D capabilities and expand in the field of Artificial Intelligence.
Led by Founder and CEO Swee Ann Teo, Espressif Systems is a multinational, fabless, semiconductor company that creates solutions for the Internet-of-Things industry. The company’s system-on-chips (SoCs), such as the popular ESP8266 and ESP32, provide dual-mode connectivity (Wi-Fi+BT/BLE) to a wide range of IoT products, including tablets, cameras, smart-home devices and wearable electronics.