Resnics Raises Several Tens of Millions of Dollars at Multiple of Previous Valuation

Oakseed Venture’s portfolio, Resnics Technology, a leading provider of Data Processing Unit (DPU) chipsets in China, announced the completion of Series A financing. This round of financing raised hundreds of millions of RMB and was completed at a significant multiple of the previous, which only closed about six months ago. The round was co-led by JLSemi, Citic Capital’s semiconductor platform Renchen Semiconductor and MassAve Global.

Oakseed Ventures led co-led the first institutional round with Lenovo Capital.

“I am thrilled to see that Resnics not only created the first P4 programmable DPU in China in a short period of time, but also penetrated the domestic market.  Several weeks ago, AMD announced that the acquisition of Pensando, which was founded by several Cisco veterans, for $1.9 billion. This affirms the important role that DPUs will play in future data centers. The team of Resnics Technology and Pensando were former colleagues in Cisco, and share a common cutting-edge perspective of the technology architecture. On top of this, Resnics has designed a product that also meets the needs of domestic customers,” says Chee We.

“We are delighted for our investors for the nice valuation uplift in such a short amount of time, and look forward to continuing momentum for Resnics after Series A,” says Chee We, Oakseed Venture’s Managing Partner.

See company’s press release here.

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