Chinese startup raises funds for in-memory AI

Chinese startup raises funds for in-memory AI

Business news |
By Peter Clarke

Chinese startup Nanjing Houmo Intelligent Technology Co. Ltd. has completed round of financing of hundreds of millions of yuan (100 million yuan is about US$14.86 million).

The company said the money will be used to advance R&D in artificial intelligence chips based on integrated storage and computation and application to intelligent driving and robotics.

This round of financing was led by Matrix Partners and Gimpo Yueda Auto Fund, followed by the National Small and Medium Enterprise Development Fund, Lenovo Sub-Fund and Tianchuang Capital. Existing investors Qiming Venture Partners and Heyu Capital continued to make additional investments.

Founded in at the end of 2020, Houmo achieved its first chip tape-out in August 2021.

“The future will be the golden decade of computer architecture, and the new architecture design will bring lower costs, better energy consumption, security and performance,” said Wu Qiang, founder and CEO of Houmo.

Zhou Zhifeng, partner of Qiming Venture Partners, said: “The chip architecture based on SRAM Macro is the most likely to break through the bottleneck of the storage wall and take the lead in implementing the integrated storage and computing technology.”

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