According to statement on February 12, Chinese AI chip unicorn Horizon Robotics announces a third time series C financing from SDIC Investment, CICC Capital, Zhongwei Capital, as well as automotive giants including BYD, Great Wall Motors, Dongfeng Assets. The company has already announced two separate series C investments in December, 2020 and January, 2021. Up to now, Horizon has bagged in USD 900 million for Series C financing, exceeding previous set targets.
Horizon Robotics specializes in developing AI chips for smart vehicles. The company was founded in 2015 by Kai Yu, who had previously founded and led the Baidu Institute of Deep Learning. While at Baidu, Yu launched a number of high-profile AI projects, including the tech giant’s ambitious autonomous driving platform Apollo. Yu says Horizon Robotics aims to become “the Intel of edge computing.” Back in February 2019, Horizon Robotics announced a staggering US$600 million in Series B funding led by South Korea conglomerate SK Group.
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