Biren Technology believes that the rapid construction of capital barriers in the short term will become an important guarantee for the company to continue to attract top talents in the industry, lead technological innovation and promote the implementation of large-scale applications.
The Shanghai-headquartered intelligent processors designer announced the completion of its new round of financing, which was jointly led by China's Insurance giant Ping An, New World Group, Country Garden Venture Capital and followed by Source Code Capital, Guosheng Capital, BAI, Harvest Capital management, China Merchants Capital, CITIC Securities Investment, Sino Russian investment fund.
The technology firm has raised a staggering total of CNY 4.7 billion in just over a year. Biren raised a record-breaking Series A round worth CNY 1.10 billion on June 16, 2020. The latest round of financing was the pre-B round completed in August last year.
The firm claims that thanks to the improvement of capital, it has achieved breakthroughs in product technology research and development, talent team building and other aspects in 2020.
We believe that driven by China's huge application market, more opportunities will emerge in the chip field in the future. A number of AI applications, including security, autonomous driving, medical procedures, home appliances and other scene design of localization of high-end AI chip is expected to have a huge demand in the near future.