Horizon Robotics raises $600 million

March 05, 2019 //By Peter Clarke
Horizon Robotics raises $600 million
Machine learning chip developer Horizon Robotics Ltd (Beijing, China) has raised $600 million in a funding round led by SK China, a venture capital arm of South Korea's SK Group, and memory chip maker SK Hynix.

The Series B values Horizon Robotics at more than $3 billion, the company said.

Horizon Robotics was founded in 2015 and has released two artificial intelligence processors – called Sunrise and Journey – and raised about $100 million in a round with help from Intel Capital in 2018.

The latest round was led jointly by SK China, SK Hynix and multiple automotive groups and their investment vehicles.

Other strategic partners and investors involved in this round include Oceanwide Capital, CMBC Capital, CSOBOR Fund, and Oceanpine Capital. Existing shareholders, including Morningside Venture Capital, Hillhouse Capital, V Fund Management and Linear Venture, have also participated in the financing. Intel Capital was not mentioned as an investor in the latest round.

Horizon Robotics' ambition is to be a leader in edge-AI processors and computing platforms to enable autonomous driving, smart cities, smart robotics and other IoT devices.

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