Qiming-backed Chinese AI chipmaker Axera Tech raises $126m

Axera Tech, a Chinese startup developing artificial intelligence (AI) chips for computer vision applications, has closed a Series A++ round of financing at 800 million yuan ($125.9 million) amid a rising trend of chip development and investment in China’s tech world.

Venture capital (VC) firm Qiming Venture Partners, Inno-Chip, which focuses on equity investments in the semiconductor sector, as well as Chinese food delivery giant Meituan and its investment platform Dragon Ball Capital backed the new round.

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