Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Pompeo Hints At ‘Broader’ Ban on Chinese Apps After Trump’s Executive Orders Targeting TikTok and WeChat
Trending in China: Merchants and Netizens Forced to Pick Sides in Fight Between Delivery Firms
Baidu-Backed Video Streamer iQiyi Probed by U.S. Regulator After Short Seller’s Report
AI Unicorn SenseTime Is Said to Mull Hong Kong, China IPO
Huawei Copies Korean Rivals by Manufacturing Own Display Driver Integrated Chips
JOYY’s Livestreaming Revenue Up 40% in Second Quarter of 2020
Trending in China: ‘Mukbangs’ Under Fire in China Amid High Level Food Waste Campaign
Trending in China: How Will the Chinese Diaspora Survive a WeChat Ban In U.S.?
Online Platform JD.com Buys into Bricks and Mortar Convenience Store Chain
China Unicom Profits Rise in First Half, Stock Soars
ByteDance in Talks with Indian Conglomerate Over TikTok Amid Layoff Fears
Alibaba’s Zhang Yong Tops 2020 Forbes China Best CEOs List
Trending: Family Feud Raises Big Questions Over Succession in China’s Multi-Million “Family” Businesses
Shanghai-Listed Foxconn Internet’s Cloud Service Sales Up 4% in First Half of 2020
U.S.-Listed Chinese Companies Nio and Huya Have Something to Cheer About
Apple Edges Huawei Out of No. 1 in Quarterly Tablet Shipments
Chinese Finance Platform Lufax Files for U.S. IPO of up to $3 Billion
China Mainland Leads U.S. in Fortune Global 500 Companies But Trails in Profitability
Trending in China: Tencent – Fighting Youth Unemployment or Enemy of Older Workers?
Tencent Pushes for Merger That Would Create $10 Billion Chinese Twitch
Tencent Doubles Down on AI Chips With New Cash Injection in Startup

By Mo Yelin and Ye Zhanqi / May 08, 2020 03:16 PM / Business & Tech

Chinese tech giant Tencent has doubled down on efforts to expand its chipmaking ecosystem by taking part in a 700 million yuan ($98.7 million) fundraising round for a Shanghai-based tech startup.

Enflame, a company that specializes in making AI chips, announced its series B funding round on Thursday. Although Tencent was not the lead investor and its actual level of funding remains undisclosed, it previously invested at least 340 million yuan in the startup. The new funding marks the third time in two years it has invested in Enflame.

With a 23.2% stake in the startup, Tencent is Enflame’s largest shareholder after its founders, according to public documents.

The latest funding round brings Enflame’s valuation up to 5.2 billion yuan. The company said it aims to increase that figure to 7 billion yuan in its next round of fundraising.

Read the full story on Caixin Global later today.

Contact reporter Mo Yelin (yelinmo@caixin.com)

Related: China’s AI Startups Raise Millions, but 2020 Looks to Be Lean Year

Share this article
Open WeChat and scan the QR code