Chinese AI chip company Cambricon gets $100 million Series B round at a $2.5 Billion valuation
image credit : Cambricon
Cambricon Technologies, The Beijing based AI Chip Manufacturer which produces smart chips for various companies and consumers has now raised a huge $100 million in a Series B investment round from a number of investors led by SDIC Venture Capital with Alibaba, TCL Capital and a host of other investors participating in the investment round which gave the company a very huge $2.5 Billion post-money valuation.
This marks a huge growth record for the company which was founded just 2016 and has boosted up to its level with a total of over $200 million in addition to the company’s seed round raised in capital.
The company’s most previous Series A round where it raised a huge $100 million August last year a unicorn valuation was also notably led by the same SDIC who led this round through another of its investment arms.
Just last month, The company unveiled two of its products which are neural network processor AI chips designed for use in a range of consumer devices including drones, smartphones and various wearables.
Cambricon will now make use of these new investment to expand its services and manufacture more smart chip products for its global consumers whilst hugely increasing its revenue along with its rapid expansion.
Cambricon was founded by Chinese duo Chen Yunqi and Chen Tianshi who were both researchers at the Chinese Academy of Sciences who in turn committed the first round of R&D expenditure for the now large AI technology company which has come a long way from its start..