Axera Semiconductor, which makes edge computing chips for the likes of terminal device computing and smart driving, has secured 1 billion yuan ($136.3 million) in a Series C funding round.
The round has roped in a number of state capital affiliated investors including Chongqing Industry Investment Fund-of-Fund, Chongqing Liangjiang Fund; Ningbo Tongshang Fund; and Zhenhai Industrial Investment, according to a company release on Wednesday.
Oriza Hua, the integrated circuit (IC) industry investment platform of state-owned Oriza Holding; and semiconductor-focused investment firm Shanghai Weihao Chuangxin Investment Management also joined the round.
Qiu Xiaoxin, an electrical engineer by training, founded Axera in May 2019 after serving as the chief technology officer at Chinese mobile phone chip developer UniSoC Corp. Axera’s two core technologies include AXProton AI-ISP and AXNeutron Mixed Precision NPU.
The former is an image-processing technology that the firm claims to help significantly enhance perception capabilities in complex environments, while the latter optimises AI operators, network microstructures, data flows, and memory access, offering robust support for mixed precision AI algorithm design, according to the company website.
The proceeds will be used in accelerating the R&D of Axera’s AI chips as well as to expand market promotion of its products, per the release. Some of the firm’s existing backers include Qiming Venture Partners, Meituan, and Tencent.
