Founded in 2018, Enflame has developed AI-based high-performance chips, AI accelerators, and supporting software used in various sectors. The Series D round is the largest venture financing raised by the company to date. Prior to this, it secured 1.8 billion yuan in a Series C round in January 2021, and an extended Series C round from China Integrated Circuit Industry Investment Fund II in June 2022.
Key takeaways:
- Enflame Technology, a Chinese AI chip maker, has completed its Series D funding round, raising 2 billion yuan ($273.7 million) from investors including funds affiliated with a state capital investor in Shanghai.
- The funding round was co-led by funds backed by Shanghai International Group, and included new and existing investors such as Meitu and Tencent Holdings.
- Enflame, founded in 2018, produces AI-based high-performance, general-purpose chips, AI accelerators for data centres, and supporting software. Its solutions are used in internet, finance, computing centres, autonomous driving, and smart city applications.
- The Series D round is the largest venture financing raised by Enflame to date. Prior to this, the firm secured 1.8 billion yuan in a Series C round in January 2021, and an extended Series C round from China's "Big Fund" in June 2022.