AI chipmaker Inuchip seals Series A funding round, while Richen Capital leads autonomous haulage solution provider EACON’s fresh equity financing round.
Inuchip bags $71m in Series A funding round
Inuchip has snapped 500 million yuan ($70.7 million) in a Series A funding round co-led by state-affiliated industrial investment firm Hefei Industry Investment Holding and deeptech investor Accurate Capital.
Local investor Jinxi Capital and Shenzhen-listed e-sports firm Tianyu Digital Technology Dalian Group also participated, while some of the existing backers re-upped, the company said in a press release on Monday without divulging the details.
The proceeds will help the firm accelerate the R&D of its products as well as expand its team.
Founded in 2020, the Hebei-headquartered firm specialises in AI chips that unify multi-sensor fusion and visual processing. It acquired Israel-based Inuitive, which specialises in chips that combine with 3D imaging, computer vision, and deep-learning capabilities, in November 2020, its former CEO told local media in an interview.
EACON notches $56.5m in fresh funding round
EACON has received 400 million yuan ($56.5 million) in an equity financing round led by local investor Richen Capital.
The alternative investment arm of Shenwan Hongyuan Securities, a local brokerage firm listed in Shenzhen and Hong Kong, participated in the round, while existing backers Estar Capital and Minxi Xinghang State-owned Investment & Operation re-upped, according to a company release.
The capital injection has brought the total capital raised in 2023 to 450 million yuan ($63.6 million), per the firm.
Founded in 2018, the Beijing-based firm designs autonomous driving trucks and related solutions that apply to open-pit mines. It counts investment firms including NIO Capital, Eight Roads Ventures, as well as Hong Kong-listed mining firm Zijin Mining Group among its backers.
