Horizon Robotics Plans to Raise over USD 700 Mn in Series C

Technology Author: Fuller Wang Dec 22, 2020 08:02 PM (GMT+8)

Established in 2015, the Artificial Intelligence company has become the only one to achieve mass production of vehicle AI chips in China.

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On December 22, 2020, Horizon Robotics announced that it plans to raise over USD 700 million in its coming series C. The company has completed a C1 funding round of USD 150 million in cooperation with Linear Capital. It is likely to attract more strategic investors following this windfall. According to Horizon Robotics, the funding will mainly be used to accelerate the company’s research and commercialization of on-board AI chips and intelligent driving solutions.

 Founded in 2015, Horizon Robotics is dedicated to providing integrated and open embedded Artificial Intelligence solutions of high performance, low power and low cost. Its vehicle AI chips provide comprehensive services for intelligent driving and wider general AI applications. Moreover, Horizon is the only entity to reach the milestone of mass production of vehicle AI chips within China. Journey 2 AI processor and AI algorithms are used on the Chang’An UNI-T model and it has thus far shipped over 100,000 products.