Baidu chips in as Qingwei Intelligent raises money

Jan 25, 2019 • Jack Hammond

Baidu Ventures, Focus Media Information Technology and Xizi United Holding have all taken part in a $14.7m round for the AI chipmaker that closed in September.

China-based artificial intelligence (AI) chip developer Qingwei Intelligent Technology has received RMB 100m ($14.7m) in a funding round featuring several corporates, according to China Money Network, which cited a report by 36kr.

The round included Baidu Ventures, a corporate venturing subsidiary of internet group Baidu, as well as outdoor advertising operator Focus Media Information Technology, industrial machinery manufacturer Xizi United Holding, trading firm XY Capital and investment firm Guolong Capital.

Founded in 2018, Qingwei Intelligent Technology is developing chips that…

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