China-based artificial intelligence chip developer Houmo.ai has received an eight-figure dollar amount from investors including consumer electronics producer Lenovo’s corporate venturing unit, Lenovo Capital, DealStreetAsia reported yesterday.
The round led by venture capital firm Sequoia Capital China and also featured private equity firm Hony Capital and VC firms IMO Ventures and Matrix Partners China.
Houmo produces artificial intelligence chips and applications designed to be used in robotics systems and autonomous vehicles. It was founded in late 2020 by Qiang Wu, an alumnus of Princeton University, and Baize Capital was financial adviser for the round.