China-based artificial intelligence (AI) chip developer Enflame obtained RMB700m ($98.7m) in series B funding from backers including internet group Tencent today, according to China Money Network.
Summitview Capital led the round, which was also supported by Redpoint China Ventures, Oceanpine Capital, Delta Capital and Wanwu Capital.
Founded in 2018, Enflame develops chips based on a proprietary architecture to deliver efficiencies that meet the computational requirements of large-scale AI training.
The series B funding has been allocated to mass production, second-generation product development and market expansion activities. The money will also fund technical support.
Tencent participated in a $43.4m funding round in June 2019 that was led by Redpoint China Ventures and also featured Oceanpine Capital, Yunhe Capital, Riverhead Capital and ChinaEquity Group.
Tencent had already led a $49.7m pre-series A round in August 2018, with participation from ZhenFund, Delta Capital, Yunhe Partners and Summitview Capital.
Shanghai Science and Technology supplied an undisclosed amount of seed capital in June 2018, after Summitview had injected an undisclosed sum three months earlier. Yunhe Partners was subsequently identified as a seed investor, but the timing of its commitment is unclear.
