After setting up EV unit, Xiaomi bets on $2b self-driving chip maker Black Sesame

After setting up EV unit, Xiaomi bets on $2b self-driving chip maker Black Sesame

A "MI" logo stands outside the main entrance of the Xiaomi Corp. headquarters in Beijing, China. Photographer: Edmond Lococo/Bloomberg

Black Sesame Technologies, a Chinese developer of artificial intelligence (AI)-based self-driving computing chips, is close to a valuation of nearly $2 billion after raising “hundreds of millions of US dollars” from investors including Xiaomi’s industry investment fund.

Shanghai-based Black Sesame raked in the new capital through a strategic investment and two Series C tranches of capital injection, the firm announced on Wednesday.

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