Beijing-based deep learning platform developer DeePhi Tech has bagged an undisclosed amount in a series A funding round from existing investors GSR Ventures and Banyan Capital and also American technology firm Xilinx Inc.
Among other investors in the funding round were Tsinghua Holdings Corp Ltd, Sigma Square Capital, Taiwanese fabless semiconductor firm MediaTek Inc, according to a report from China Money Network on Thursday. The raised funds, possibly in multiples of ten million dollars, will be used for technology and product development.
DeePhi Tech was founded last year by researchers from Tsinghua University and Stanford University known for their pioneering research in machine learning and numerous papers published. the company is engaged in machine learning specializing in deep compression, compiling toolchain, and system-level optimization.
Xilinx is a leading provider of semiconductor products and its devices are used by DeePhi for machine learning. “Xilinx’s powerful platforms are already being used by DeePhi in commercial products from edge to cloud in smart surveillance and data center applications,” said Yao Song, CEO at DeePhi Tech in a statement issued by Xilinx on Wednesday.
The core members of the team come from companies including Baidu, 360, Siemens, and Nokia.