TenaFe, a R&D enterprise of solid-state drive (SSD) controllers, announced that it has obtained $58 million in a B Round of financing led by Shunwei Capital. Other Investors included Eight Roads, Northern Light Venture Capital, Tyche Partners, Zhangjiang Hi-Tech Investment and Source Code Capital. Our China Ventures team co-led the company's Series A round in 2020.
According to TenaFe, the new funds will be invested in four goals.
- First, in the fourth quarter of 2021, its latest TC2200 SSD controller will be released into the consumer PC OEM market;
- Second, the firm plans to invest in the development of its next generation consumer and data center application solutions;
- Third, the company aims to keep stable production capacity and establish its own chip inventory as the world faces massive shortages chip shortage;
- Finally, the company will expand its team and promote market development.