China-based graphics processing unit (GPU) developer Metax has received RMB1bn ($154m) in a series A round featuring diversified conglomerate Fosun and consumer electronics producer Lenovo, DealStreetAsia reported yesterday.
Chinese state-owned investment vehicles China Structural Reform Fund Corporation and China Internet Investment Fund co-led the round. Fosun and Lenovo contributed through investment subsidiaries Fosun RZ Capital and Lenovo Capital respectively.
The round also attracted capital from Sequoia Capital China, Matrix Partners China, Lightspeed China Partners, CTC Capital, Oriental Fortune Capital, CDB-CDC Capital and Shanghai International Group’s Shanghai Technology Innovation Fund.
Metax produces self-reliant GPU computer chips and products for the artificial intelligence technology, data centre and cloud-computing sectors. It recently launched a corporate research institute at Zhejiang University, and the funding will support research and development activities.
The company has raised hundreds of millions of dollars in funding since it was founded in September 2020, according to a company statement cited by DealStreetAsia.
In February this year, Metax raised tens of millions of dollars in a pre-series A round backed by ZhenFund, Beijing Yafuchang Investment, Sequoia Capital China, Matrix Partners China, Lightspeed China Partners and CTC Capital.