China auto-chip firm Black Sesame Tech valued near $2 billion after funding from Xiaomi, others

BEIJING (Reuters) – Chinese auto-chip startup Black Sesame Technologies said on Wednesday that it had raised “hundreds of millions of dollars” from Xiaomi Corp and other investors as China accelerates development of its semiconductor industry.

Black Sesame Technologies said its valuation is now near $2 billion.

(Reporting by Yilei Sun and Brenda Goh; Editing by Muralikumar Anantharaman)