Espressif Systems, a Shanghai, China–based global IoT semiconductor company, has announced it received an investment by Intel Capital and Beijing Singularity Power Investment Fund.
According to Intel, Espressif Systems power the devices that are key to the Internet-of-Things (IoT) industry. The company’s system-on-chips (SoCs), such as 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.
Gartner profiled Espressif in the category of “Cool Vendors in 'IoT Thingification' 2016,” and Techno Systems Research Co. Ltd, a Japan market research company, ranked Espressif first in the MCU Embedded WiFi sector in 2017. With integrated MCU embedded Wi-Fi solutions, such as ESP32 and ESP8266, Espressif achieved sales of one hundred million IoT chipsets by the end of 2017, the company revealed.
This new round of investment is another milestone in Espressif’s development and will strengthen the company's R&D capabilities while helping increase its market influence, the company observed. While the amount of the deal was not disclosed, the IoT semiconductor player said it intends to use the funds to expand its AI capabilities.
The chipmaker led by its founder CEO Swee Ann Teo, predominantly focusses on creating solutions for the Internet-of-Things industry.