Advanced battery producer Contemporary Amperex Technology has co-led a $400m series C2 round for China-based artificial intelligence chipmaker Horizon Robotics, DealStreetAsia reported yesterday.
The round was co-led by investment manager Baillie Gifford, private equity firm YF Capital and Citic Private Equity Funds Management (CPE), a subsidiary of investment banking group Citic Group.
Financial services provider Orix, CloudAlpha Tech Fund, Neumann Advisors, Aspex Management, Hermitage Capital, China Securities and Yuantai Changqing Fund filled out the round together with the state-backed Shandong Hi-Speed Group’s SDHS Capital vehicle.
Horizon’s products include an artificial intelligence processor for edge computing-based deep learning systems and a scalable perception computer for use in mobile robotics systems and autonomous shuttles.
5Y Capital, Capital Today and Hillhouse Capital vehicle GL Ventures co-led a $150m series C round for the company last month that also featured Guotai Junan International and KTB Investment.
Semiconductor and data technology producer Intel led Horizon’s $100m series A-plus round in 2017 through corporate venturing unit Intel Capital, investing alongside 5Y Capital, Hillhouse Capital, Harvest Investments, Wu Capital and Linear Ventures.
Horizon added $600m at a $3bn valuation in an early 2019 series B round featuring SK China and SK Hynix – both part of conglomerate SK Group subsidiaries – Hillhouse, 5Y Capital, China Oceanwide Holdings, Citic’s CSobor Fund and investment subsidiaries of unnamed carmakers.
The company’s earlier backers include Innovation Works, ZhenFund, Sequoia Capital, GSR Ventures, Tsing Capital, Vertex Ventures and Yuri Milner.
Photo courtesy of Horizon Robotics.
