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
Q&A Site Zhihu’s Financial Report Shows It Must Balance Spending and Earnings to Cut Losses
Chinese Online Language Educator 51Talk Sees Profits Slump Even as Revenue Grows
Automaker Changan Plans to List EV Unit in Shanghai, Report Says
Sohu Returns to Profit in First Quarter as Online Gaming Revenue Grows
Chinese Trucking Startup ForU Applies for Nasdaq Listing
Baidu Aims to Replace State-of-the-Art Self-Driving Tech With Launch of V2X System
Chinese Snack-Maker Shapes Up as a Spicy Hong Kong Offering
Fresh Funding Lifts Blockchain-Based Gaming Firm Animoca Into Unicorn Club
Foxconn Drives Deeper Into Car Manufacturing With Fisker Deal
Tesla Wannabe Xpeng Reports Shrinking Losses as Deliveries Explode
Tencent Brings in Nearly $500 Million From ‘Honor of Kings’ and ‘PUBG Mobile’ in April
U.S. Senate Advances Bill That Would Ban TikTok from Government Devices
WeRide Raises Fresh Capital as It Ponders How to Make Money Off Self-Driving Cars
China’s 2021 Smartphone Sales Surge Comes to an End in April
Trending in China: Weibo Turns On E-Bike Riders After Battery Explodes in Elevator
U.S. Senate Committee Presses Companies to Comply with Rule Designed to Limit Supply Sales to Huawei
Pony.ai Receives Green Light to Run Autonomous Freight Business in Guangzhou
Trending in China: Stories of Young Survivors on 13th Anniversary of Wenchuan Earthquake
Internet Security Apps Called Out for Personal Data Abuse
Online Insurance Upstart Yuanbao Bags $156 Million in New Funding
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