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China tech

Chinese AI chipmaker raises hundred of millions of yuan

Iluvatar CoreX to use funds for R&D

 Security officers keep watch in front of an AI (Artificial Intelligence) sign at the annual Huawei Connect event in Shanghai, China September 18, 2019. REUTERS/Aly Song   © Reuters

BEIJING -- Nanjing-based artificial intelligence chipmaker Iluvatar CoreX said Thursday that it has closed its Series B funding, having raised hundreds of millions of yuan, said Chinese media outlet PEdaily without disclosing the exact sum.

This round was led by Chinese private equity Centurium Capital, the key investor in Luckin Coffee, and San Francisco and Hong Kong-based Princeville Capital, which once backed Alibaba Group Holding, Baidu, Xiaomi and Facebook.

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