Hangzhou-based AI chip startup Zhixinke secured nearly RMB 100 million (USD 15.45 million) in an angel round led by SIG China and Jiangmen Ventures. The capital will go towards research and development, talent recruitment, and market expansion.
Founded in September 2019, Zhixinke designs edge computing AI chips focused on high performance with low energy consumption. The company’s potential customers hail from a range of sectors including smartphones, autonomous driving, cybersecurity, drones, robotics, as well as virtual reality and augmented reality.
“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,” Zhixinke chairman and CEO Zhang Zhongxuan said. “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.”
“For example, when integrating edge computing into mobile phones or drones, power consumption is reduced by dozens of times, significantly improving battery life and solving heat dissipation issues,” Zhang explained.
The company also sees potential for its products within China’s broader push for advanced manufacturing, eventually aiming to design and apply its chips in more horizontal use cases. “Our solution is versatile, and can be scaled easily. We can provide customers with a variety of neural network algorithms for their specific needs,” Zhixinke CTO Zhu Xianing said.
Zhixinke is targeting a worldwide AI chip market that was worth USD 8 billion in 2019 and is expected to reach USD 70 billion by 2026, growing at a compound annual growth rate (CAGR) of around 35%, according to a report from Global Market Insights.
Read this: Sequoia-backed Jiangxing AI raises fresh funds for edge computing in China’s green push
36Kr Connection features translated and adapted content published by 36Kr. This article was originally written by Ru Qing for 36Kr.