Intel Capital leads Series A round for Chinese tech company CTAccel

FILE PHOTO: An Intel logo is seen at the company's offices in Petah Tikva, near Tel Aviv, Israel, October 24, 2011. REUTERS/Nir Elias/File Photo

CTAccel, a China-based FPGA (field-programmable gate array) company has announced the closing of an unspecified Series A funding round led by Intel Capital, the global investment arm of US tech giant Intel Corporation, and joined by Ironfire Ventures.

In a release, the company said investment proceeds will be used to broaden its product portfolio for better and more effective image processing and image analytics solutions development and to penetrate North America, Europe and the Asia Pacific.

CTAccel was founded in 2016 by a team of FPGA experts who have been involved in the development of heterogeneous computing solutions for data centres since 2013. It develops solutions that are deployed in a wide spectrum of market segments including online-to-offline (O2O) services, smartphone cloud applications, cloud storage and online video sites.

“Our existing and in-development product offerings have positioned CTAccel to be a market leader in FPGA-accelerated solutions,” said CTAccel founder and CEO Harry Yu. “This investment, led by Intel Capital, will speed up our new product development and extend our solutions across FPGA-accelerated datacenter computation while supporting our global expansion.”

According to Intel Capital International vice president and managing director Anthony Lin, the investment in CTAccel will support Intel’s strategy to“ accelerate the development of the rapidly growing data economy”.

Intel Capital will also look to leverage CTAccel’s experience in hardware-software co-design, heterogeneous computing and software engineering to deliver high-performance, high-value solutions to customers.

Intel Capital has been aggressively investing in Chinese companies for the last couple of years.

Last year, it backed a Series A+ round for Chinese computer chips maker Horizon Robotics, which was followed by investments in three other tech startups, Reconova, Alauda, and Espressif Systems. Most recently, Intel led a Series B funding round for Chinese AI company, ICE TECH Science & Technology and led a funding round for Chinese medical imaging artificial intelligence company HuiyiHuiying.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.