BYD Semiconductor to raise $265m in the recent funding round.

BYD Semiconductor, a manufacturer of electrical components for automobile industry, is set to raise $265m in the recent funding round from investors including Sequoia China, Zhongjin Pucheng Investment, Zhongdianzhongjin (Xiamen), CICC, Unicom Zhongjin, SDIC, Shenzhen Yidun Media Investment Fund, Himalaya Capital Investors, Xiamen Han’er Qingya Investment, Shenzhen AVIC, and Shenzhen Xindixin. In exchange for the capital, the investors will get 20.2% of BYD Semiconductor, while the remainder will be held by BYD. BYD Semiconductor will use the funds to supplement working capital, fuel research and development and hire employees.