China-based artificial intelligence chip developer Axera has secured tens of millions of dollars in funding from investors including Legend Star, a subsidiary of conglomerate Legend Holdings, DealStreetAsia reported today.
The funding consisted of a pre-series A round led by venture capital firm Qiming Venture Partners and backed by Legend Star, and a series A round led by Beijing Heju Investment that included Legend Star, Qiming Venture Partners, Glory Ventures, Zoo Capital and Cedarlake Capital.
Axera designs and develops AI chips for use in computer vision systems in areas such as facial recognition. It will put the capital into research and development, manufacturing, market expansion and commercialisation activities.
