Smartsens is Beyond Ventures’ Third Unicorn IPO
HONG KONG, May 20, 2022 /PRNewswire/ — Hong Kong-based venture capital firm Beyond Ventures is pleased to announce that its portfolio company, Smartsens (stock code: 688213), a leading manufacturer of high-performance CMOS image sensors, today debuted on the Shanghai Stock Exchange STAR market. Smartsens will continue to strengthen its global leadership position and the funds raised will be invested mainly in research & development (R&D) and system construction projects.
Smartsens was established in 2017 by Dr. Richard Xu and two other founding partners, all semiconductor experts with more than 20 years of experience in the R&D and design of CMOS image sensors. The Company’s business is the R&D, design and sale of high-performance CMOS image sensors. According to Frost & Sullivan, in 2020 Smartsens shipped 146 million security and surveillance sensors, ranking it first in the world, and in the emerging field of machine vision, the Company shipped 25 million sensors, also ranking it as a global industry leader.
With R&D at its core, as of September 30, 2021, Smartsens and its holding subsidiaries had 183 authorized patents. The Company has built a core technology and intellectual property system in improving the signal-to-noise ratio, sensitivity, frame rate and dynamic range of CMOS image sensors, and established intellectual property barriers through continuous technological innovation and experience.
In 2021, Smartsens’ revenues were RMB 2.689 billion, representing a year-on-year increase of 76.10%, while net profits in 2021 were RMB 398 million, an increase of 228.92% compared with the prior year.
Prior to its IPO, Smartsens had received investment from numerous well-known corporations and Funds including China Integrated Circuit Industry Investment Fund II, Haikang Wisdom Fund, Xiaomi Industry Fund, Hubble Technology Venture Capital, Samsung Electronics, Sequoia, Lenovo Group, Beyond Ventures and so on.
Lap Man, Co-founder and Managing Partner of Beyond Ventures, said, “We are delighted to see Smartsens becomes the third successful IPO from our Fund I. We first invested in Smartsens in 2019 in a funding round led by Beijing Kinetic Energy and Lenovo Venture Capital and again in 2020, bolstered by our ongoing conviction in the strength of the Smartsens team and the Chinese semiconductor industry in general.”
He continued, “Smartsens is now the third IPO unicorn to emerge from the Beyond Ventures portfolio and is likely to be the first home run deal for our Fund I. What’s more, it is another great example demonstrating the capabilities of the Hong Kong universities’ postgraduates in building world class companies. With the proven R&D capabilities of its universities, its sound IP protection system, robust funding sources from both the private and public sectors as well as strong backing from Mainland China, we believe that Hong Kong is well positioned to play a key role in the development of the semiconductor industry in the Greater Bay Area.”
About Beyond Ventures
Co-founded by Lap Man and Marvin Hung, Beyond Ventures is a Hong Kong-based venture capital firm. Started in 2017, Beyond Ventures is recognised for the support it gained from well-known Hong Kong conglomerates including Hop Hing Group, Far East Consortium, Chinney Alliance Group and Chinachem Group, as well as leading private equity firms Hony Capital and GAW Capital and Hong Kong VC firm eGarden.
The name “Beyond Ventures” originates from the popular rock-and-roll band Beyond, which emerged in early 1990s Hong Kong. We aspire to revitalize and transform the city’s innovation ecosystem by being Hong Kong’s most impactful venture capital firm. By uniting venture capital experts and local conglomerates with visionary entrepreneurs, we provide startups with the capital and guidance they need to thrive.
Beyond Ventures’ portfolio companies include SenseTime, Smartsens, Prenetics, YOHO, HKTaxi and more.
Please visit www.beyondventures.hk for more information.