Axera benefits as China funds flood into AI startups

Axera benefits as China funds flood into AI startups

Business news |
Chinese AI startup Axera has raised 800 million yuan (about US$125 million) in a Series A++ round of financing backed by food delivery giant Meituan
By Peter Clarke

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Axera was founded in May 2019 and is focused on developing an AI vision chip and computation platform.

Qiming Venture Capital, Weihao Chuangxin, Meituan and Meituan Dragon Ball, Heju Capital, Jiyuan Capital, Legend Star and Yaotu Capital participated in this round of financing.

This is also the fourth round of financing completed by Aixin Yuanzhi so far, less than half a year from the last A+ round of financing.

The company’s core technology supports a variety of AI vision tasks and it has launched two AI vision chips – the AX630A and AX620A. These contain self-developed AI ISP image processing technology.

Axera uses neural networks to improve image quality and supports various AI vision tasks such as object detection and face recognition.

As of August 2021, Axera had completed three rounds of financing: pre-A, A and A+.

Related links and articles:

www.axera-tech.com

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