China-based artificial intelligence chip developer Enflame Technology has received RMB1.8bn ($279m) in series C funding from investors including internet group Tencent, Yicai Global reported today, citing a company announcement.
Citic Private Equity Funds Management and Primavera Capital Group co-led the round with China Capital Investment Group’s funds, and it also featured Summitview Capital and Redpoint China Ventures.
Enflame has developed AI chips for use in cloud data centres, helping them to work with cloud-based AI platforms by customers such as internet companies, financial services providers and smart city technology producers.
The company raised $49.7m in a Tencent-led pre-series A round in 2018 that included ZhenFund, Delta Capital, Yunhe Partners and Summitview Capital.
Redpoint China Ventures led a $43.4m round for Enflame in mid-2019 featuring Tencent, Yunhe Capital, Oceanpine Capital, Riverhead Capital and ChinaEquity Group. It added $98.7m in a Summitview Capital-led round in May 2020 also backed by Tencent, Redpoint China, Oceanpine, Delta Capital and Wanwu Capital.
