Briefing: AI startup Horizon Robotics to raise $600 million in Series B funding

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地平线即将完成6亿美元融资,或创AI芯片融资纪录 – Chedongxi

What happened: Horizon Robotics, a Chinese AI chip company, is about to close its $600 million Series B. The company founder and CEO Yu Kai on Monday said the fundraising would be “closing soon.” Yu made the comment at the launch event for its Silicon Valley-based research institute during the consumer electronics gala CES in Las Vegas. According to the company, major investors include “leading players in the automotive and semiconductor industries.” A spokesperson refused to comment when contacted by TechNode.

Why its important: Founded in 2015 by Yu Kai, former head of Baidu’s Institute of Deep Learning, the company has been focusing on developing AI chips for self-driving vehicles, surveillance cameras, and other internet-connected smart devices. It launched a prototype of an Advanced Driver Assistance Systems (ADAS) with Intel during CES 2017. This was followed by two embedded vision chips designed for autonomous vehicles. So far, the company has been financed by Intel Capital, the chip giant’s investment arm, and venture capital fund Sequoia Capital China, among others.