Tech Completes Pre-A Series Funding Round Led by Intel Capital
Beijing, April 2, 2019 – Zhuhai Technology Co. Ltd. (“ Tech”), a system solutions provider focusing on AI machine vision algorithms and SoC designs, announced today the company has completed a Pre-A Series funding round led by Intel Capital, with additional participation by previous angel investors Northern Light Venture Capital and Delta Capital.
The proceeds from the funding will be used to expand Tech’s IP to develop more advanced, efficient and complete SoC solutions, as well as broaden and strengthen the company’s growth in key market segments including video security, smart home appliances, and consumer and automotive electronics.
With comprehensive full-stack development capabilities, Tech focuses on proprietary IP research and development for AI acceleration; high-definition (HD) display and audio-visual coding and decoding; and high-speed mixed signal circuits. By applying scenario-based IP design concepts, Tech has industry-leading PPA (Performance/Power/Area) index for its independently developed IPs. The company launched its first test chip in 2017 and has recently completed the full mask tape out of its edge AI chip, with mass production planned for the second quarter of 2019.
Feng Chen, founder of Tech, said: “We are grateful to receive strategic investment from Intel Capital. By optimizing the use of Intel® Architecture and Intel's leading processing technology in the global semiconductor industry, we will develop broader AI application scenarios that help drive innovation within the sector.”
Feng Chen is an industry veteran in image and display processing technology and was one of the founding engineers of Actions Semiconductor CO., Ltd (NASDAQ: ACTS) and Allwinner Technology CO., Ltd. (SZ: 300458).
Tianlin Wang, China Country Manager at Intel Capital, said: “ Tech’s independent IP development and AI SoC solution efforts are well aligned with Intel’s strategy to uplift AI technology innovation and application breakthroughs. Tech’s strengths in SoC design and R&D, combined with its embedded software system and core algorithm, should help to strengthen the AI ecosystem and accelerate the deployment of AI applications.”