China-headquartered visual computing technology developer Moore Threads has raised RMB2bn ($313m) in a series A round co-led by financial services firm Bank of China’s Bohai Sheng Industrial Fund Management vehicle, DealStreetAsia has reported.
The round was co-led with Source Code Capital and Shanghai Guosheng Group and also featured financial services firm China Construction Bank’s CCB International subsidiary, Qianhai FOF and China Merchants Securities.
Moore Threads has developed graphical processing unit (GPU) technology for visual computing and multimedia processing for use in data centres, edge computing servers and enterprise workstations, across areas such as robotics, autonomous driving and intelligent energy systems.
The cash will be funnelled into chip development and the scaling of the startup’s product manufacturing. The round was disclosed nine months after Moore Threads emerged from stealth having completed a pre-series A round co-led by Shenzhen Capital Group, GGV Capital and Sequoia Capital China in the 10-figure yuan range (RMB1bn = $155m).
Digital media group ByteDance’s Beijing Quantum Jump Technology subsidiary also took part in the pre-series A round, as did self-driving system developer Pony.ai and smart home technology producer H&T Intelligent Control.
The February investor list was filled out by China Merchants Venture, First Capital Securities, Riverhead Capital Investment Management, 5Y Capital, Minghao Investment, Oceanpine Capital and Wenming Investment.
