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Chinese AI startup raises $600m as Beijing pushes chip industry

Venture firms tap into China's growing semiconductor sector

A man looks at a demonstration of human motion analysis software developed by AI specialist Horizon Robotics at the Security China 2018 exhibition in Beijing in October of that year.   © Reuters

HONG KONG -- Chinese startup Horizon Robotics raised $600 million on Wednesday for its chipmaking business, as venture capitalists tap into the country's growing appetite for the made-in-China chips.

Horizon Robotics, one of China's leading unicorns, is valued at $3 billion after the closing of the series B-round fundraising, led by SK China, South Korean semiconductor SK Hynix, and several undisclosed Chinese automakers.

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