Huami Backs SF Tech Startup SiFive; Stock Jumps 5%

The Chinese maker of wearable gadgets is a repeat investor in the San Francisco-based startup that develops RISC-V technology.
Binwei WangJun 08,2019,06:55

Shares in Huami Corp. (NYSE: HMI) soared nearly 5 percent Friday, closed at $8.67 apiece after its announced invested last round on SiFive, a provider of commercial RISC-V processor IP.

SiFive was raised $65.4 million in a Series D round, except Huami, other investors including Sutter Hill Ventures, Chengwei Capital, Spark Capital, Osage University Partners and Qualcomm Ventures LLC. After Series D round, the total investment is more than $125 million.

This round of investment will further enable and accelerate SiFive's global expansion and technology development. SiFive has grown to more than 400 employees across 15 locations globally in last 18 months.

Huami has been working closely with risc-v in the chip field. In April of 2018, the company started to invest SiFive with Intel and West. The investment of SiFive is to further expand the layout and accumulation of RISC-V Internet of Things ecology and artificial intelligence technology, and continue to deepen the potential of this market, so as to promote the application of RISC-V in wireless connection, IoT control, AI computing, medical health and other fields, as well as the future layout in 5G field.

With the hot sales of a series of smart wearable devices such as Mi band and Amazfit brands, Huami has accumulated the largest biometric and sports database in human history.

Huami reported its first quarter earnings at 3 June, with boosted revenue and net income.