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China's Horizon Robotics Now Valued at $3 Billion

By Zhang Erchi and Tang Ziyi / Feb 27, 2019 12:30 PM / Business & Tech

Horizon's products include facial recognition technology. Photo: VCG

Horizon's products include facial recognition technology. Photo: VCG

Horizon Robotics,  one of China's leading designers of artificial intelligence chips, announced on Wednesday that it raised $600 million in its latest funding round. This values the company at $3 billion.

The round is led by South Korean conglomerate SK, memory chip manufacturer SK Hynix and several venture capital funds backed by Chinese automakers.

Beijing-based Horizon previously raised $100 million in a funding round led by Intel Capital in 2017.

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