Horizon Robotics, a Chinese Artificial Intelligence (AI) startup, raised a new funding of undisclosed amount.
The round was led by Intel Capital, with participation from Harvest Investments and existing shareholders Morningside Venture Capital, Hillhouse Capital, Wu Capital and Linear Ventures. In conjunction with the funding, Daniel McNamara, corporate vice president and general manager of the Programmable Solutions Group at Intel Corporation, will join Horizon Robotics’ board of directors.
Led by Dr. Kai Yu, Founder and CEO, Horizon Robotics is delivering core embedded AI technology and system solutions to equip more than 1,000 categories of devices, such as autonomous vehicles and smart cameras with “brains” for intelligent capabilities from perception and interaction to understanding and decision-making.
The company, which expects that its A-plus series funding round will total approximately US$100m upon closing, will use the funds to accelerate its technology and product R&D and business deployment as it further develops its integrated, embedded AI solutions for applications such as autonomous driving and smart cities.
FinSMEs
20/10/2017