Computing technology provider Xilinx acquired one of its portfolio companies, China-based neural network technology startup DeePhi Tech, for an undisclosed amount, in a deal that also provided an exit for Tsinghua Holdings, a conglomerate owned by Tsinghua University.

Founded in 2016, DeePhi is developing deep learning technology that incorporates neural network hardware architecture and neural network compression technology to help improve the functioning of systems such as data centres and surveillance apparatus.

The company raised an eight-figure dollar amount in May 2017 from Tsinghua Holdings, Xilinx, semiconductor technology producer MediaTek, Sigma Square Capital and existing investors GSR Ventures and Banyan Capital.

Electronics producer Samsung and Ant Financial, e-commerce firm Alibaba’s financial services affiliate, subsequently co-led the company’s $40m series A-plus round in October, which included China Merchants Capital, part of state-owned holding company China Merchants Group.

Yi Shan, chief technology officer of DeePhi, said: “Xilinx is accompanying DeePhi Tech along its journey to explore the potential of machine learning and is supporting our innovation as one of our early investors.

“We look forward to continuing our joint efforts with Xilinx to bring our solutions to the next level in performance.”

– A version of this article first appeared on our sister site, Global Corporate Venturing.

Computing technology provider Xilinx acquired one of its portfolio companies, China-based neural network technology startup DeePhi Tech, for an undisclosed amount, in a deal that also provided exits for other corporate investors.

Founded in 2016, DeePhi is developing deep learning technology that incorporates neural network hardware architecture and neural network compression technology to help improve the functioning of systems such as data centres and surveillance apparatus.

The company raised an eight-figure dollar amount in May 2017 from Xilinx, semiconductor technology producer MediaTek and Tsinghua Holdings, the technology transfer vehicle for Tsinghua University, as well as Sigma Square Capital and existing investors GSR Ventures and Banyan Capital.

Electronics producer Samsung and Ant Financial, e-commerce firm Alibaba’s financial services affiliate, subsequently co-led the company’s $40m series A-plus round in October, whichincluded China Merchants Capital, part of state-owned holding company China Merchants Group.

Yi Shan, DeePhi’s chief technology officer, said: “Xilinx is accompanying DeePhi Tech along its journey to explore the potential of machine learning and is supporting our innovation as one of our early investors.

“We look forward to continuing our joint efforts with Xilinx to bring our solutions to the next level in performance.”