SIG China, a vehicle for quantitative trading firm Susquehanna International Group, has co-led a RMB100m ($15.5m) angel round for China-based artificial intelligence chip developer Zhixinke with Jiangmen Ventures, KrAsia reported today.
Founded in 2019, Zhixinke is developing artificial intelligence microchips for edge computing with a focus on high-performance and low energy consumption. Its products have been designed for use in technology such as smartphones, autonomous vehicles and drones.
The proceeds of the round will enable the company to invest in research and development, recruitment and market expansion activities.
Zhang Zhongxuan, chairman and chief executive of Zhixinke, said: “As the semiconductor industry enters the post-Moore era, AI chips’ requirements for high energy efficiency have compelled the sector to create a new integrated circuit architecture.
“The design of our AI chips, which integrates computing power and storage, will reduce the cost of operating AI technology, shorten processing times and lower energy consumption.”