ThinCI raises $65 million in Series C

ThinCI raises $65 million in Series C

Business news |
By Peter Clarke

The company is now shipping its chips to early adopters of the technology, according to Dado Banatao, chairman of the board and early ThinCI investor.

The latest investment round is led by previous investor DENSO International America, Inc. and its subsidiary Nsitexe Inc., a developer of semiconductor components enabling automated driving, as well as the Singaporean sovereign wealth fund Temasek Holdings. The round was significantly oversubscribed, ThinCI said in a statement. Other investors include Daimler and an unnamed Asia-based electronics company.

“ThinCI has the capabilities to help us usher in the next era of transportation. The company’s technology provides the computing power to make autonomous driving and advanced electric vehicles the industry norm,” said Tony Cannestra, DENSO’s Director of Corporate Ventures.

“The expansion of our investor set to include industrial firms outside the automotive sector validates our assertion that ThinCI’s technology can accelerate AI adoption across a wide range of non-automotive applications, such as smart cities, datacenters, and surveillance,” said ThinCI CEO Dinakar Munagala, in a statement.

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