Chinese AI chip maker Biren raises $155m Series A
Biren Technology, a nine-month-old Chinese smart chip design company, has raised RMB1.1 billion ($155 million) in Series A funding led by Qiming Venture Partners, IDG Capital and Walden International.
Other investors include Gree VC - the venture capital arm of Gree Electronic Appliances - Green Pine Capital Partners, V Fund, state-owned Guokai Equipment Manufacturing Industrial Investment Fund, Meridian Capital, CCI Holdings, and Glory Ventures. It is said to be the largest ever Series A round in the chip design space.
Founded in 2019, Biren wants to provide a one-stop intelligent computing solution for customers across different industries by creating a general-purpose system comprising software and hardware platforms. Its initial focus is high-performance computing chips for use in general-purpose cloud-based processes. Chips dedicated to artificial intelligence training and graphics rendering will come later.
Alex Zhou, a partner of Qiming, said in a statement that AI represents the biggest opportunity for China's integrated circuit industry. “The chip accounts for 40-50% of the value of overall technology in AI, while it only accounts for 10% in other industries," he explained. "In addition, China is the largest market for AI chips. Flying close to the ground is an easier path to success.”
Other PE and VC investments in the chip design and manufacturing space tend to focus on specific applications. Last week, IDG took part in a RMB2 billion Series B round for Eswin Technology Group, which concentrates on display, wireless connectivity, and AI data processing. Meanwhile, Qiming is also an investor in Yunyinggu, a supplier to flat screen display manufacturers.
Additional recent activity in the space includes a $26 million Series A round for Lightelligence, an optical chip manufacturer, an extended Series D of $119 million for consumer electronics chip specialist ASR Microelectronics, and a RMB700 million Series B for Enflame Technology, which produces AI training accelerator cards used in high-end deep learning chips.
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