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.