Primavera Jointly Leads the Series C Financing Round of Enflame Technology, a Chinese AI Chip Maker
Enflame Technology, a Chinese AI cloud computing platform, today announced the completion of its Series C round financing, raising a total of RMB 1.8 billion. The financing was led by Primavera Capital Group and several other PE firms, together with several new and existing shareholders, including Tencent, Summitview Capital, and Redpoint Ventures China as co-investors.
Dapeng Zhu, co-head of Primavera Venture Partners, said, “From a macro perspective, the goal to strengthen scientific and technological innovation has become a strategic pillar of national development, and technological independence in industry supply chains is an important mission in the new technological era. Chinese chip design companies will gradually become major players in the sector. Enflame Technology, an important IT infrastructure supplier, is among the first to have realized the commercialization of domestic chips designed to train AI systems. Primavera Capital will leverage industrial resources to help Enflame Technology achieve rapid growth.”
Founded nearly three years ago, Enflame Technology has completed the R&D and mass production of the first AI high-performance general-purpose chip, Suisi Deep Thinking Unit. It has also successively launched several AI accelerators for data centers, including “Cloudblazer T10” and “Cloudblazer T11” for cloud training scenarios, “Cloudblazer i10” for cloud inference scenarios, and “TopsRider”, a supporting software platform. Enflame Technology has become the first domestic startup that boasts both high-performance cloud training products and cloud inference products. At present, Cloudblazer T10 has been adopted by leading customers from the internet and financial industries.
“AI computing has become a key driver of the digital economy and a battleground for those in hard and core technology. In 2020, we successfully commercialized the AI training cluster, composed of Cloudblazer T10 accelerator cards, in the customer data center. This is a verification and recognition of Enflame Technology’s fully homegrown products and technologies as a leading player in this sector in China.” Zhao Lidong, founder and CEO of Enflame Technology said.
“I am very honored and grateful to our like-minded partners who have always been there with us. The completion of the Series C round financing will provide us access to a wide range of industrial resources, enabling Enflame Technology to achieve rapid development in product technology, ecological construction, business scale and industrial cooperation. With flexible and diverse collaboration models and products that empower industry upgrades, we strive to create value for customers and promote the development of inclusive AI computing.”
Yalin Zhang, the founder and COO of Enflame Technology, said, “In the past two years, Enflame Technology has launched cloud training and inference products with precise execution which have given us a first-mover advantage. We have an ambitious technology roadmap for the next three years and will iterate products centered around the development of both software and hardware systems, establishing our unique competitive edge in the market. Meanwhile, we will ramp up our efforts to explore cutting-edge technologies in AI and integrated circuits to lay a solid technical foundation for the company’s long-term development. With the help of the Series C round funding, Enflame Technology will recruit more talents and optimize our organizational structure to support the company’s rapid business expansion in the future.”