AI startup Horizon Robotics secures USD 100M to develop autonomous driving system, & more

Embedded AI startup Horizon Robotics receives USD 100M for Series A+ led by Intel

Horizon Robotics

Founder: Yu Kai

Financing status: RMB 661 million (USD 100 million) for Series A+ financing in 2017

Embedded AI startup, Horizon Robotics, received USD 100 million for Series A+ led by Intel on October 20 to promote its autonomous driving business.

Horizon Robotics is an embedded Artificial Intelligence startup that provides integrated and open embedded Artificial Intelligence solutions that are high performance, low power, and low cost. It designs ‘brains’ for over 1000 devices all over the world, such as autonomous vehicles, to enable them to be intelligent entities that can perceive, understand, make for safety decisions, and be convenient and fun.

Horizon also designs computer chips that are optimized to run neural networks, a popular form for artificial intelligence now used by search giants and driverless cars, among others. Meanwhile, it makes software customized to these chips that can be installed in everything from vehicles to smart speakers and gadgets.

Founded in Beijing by Yu Kai, the former head of Baidu’s Institute of Deep Learning, Horizon Robotics builds chips to power artificial intelligence in self-driving vehicles and smart cameras. Its products mainly cover technical solutions, smart mobility, smart life, and smart city. Currently, the company’s products have been applied by its partners all over the world, such as BOSCH, Intel, Allwinner, ARM, and so on.

This new financing round was led by Intel. Previously, Horizon Robotics received funding from Morningside Venture Capital, Hill House Capital, Sequoia Capital, GSR Ventures, Innovation Works, ZhenFund, and so on. The capital will be used to develop its products on cars, as well as hire more engineers.

Read also: Meet the robotics startup that wants to be the Android of AI

Intelligent restaurant management platform Dajialai receives USD 15M


Founder: Huang Tao

Founded in: 2015

Financing status: RMB 100 million (USD 15 million) for Series A financing in 2017

Intelligent restaurant management platform Dajialai received USD 15 million for Series A led by Meituan Dianping on October 19 to expand its team.

Dajialai is a cloud based intelligent restaurant management platform that provides its customers with one-stop management solutions. Its services include basic services and value added services. Its basic services include providing its customers with ordering, cashiers, production, and employee management. Moreover, its value added services support its customers with a membership system, direct access to the takeaway system, digital coupons,  online booking and ordering, as well as delivery management, with an online payment system, inventory management system, electronic invoices etc..

Founded in 2015 in Shanghai, its services have covered more than 2000 restaurants across China, while the company is expanding its services to more cities.

This Series A financing round was led by Meituan Dianping, which also invested in Dajialai’s angel financing round. The company plans to use the funds to recruit more talents to expand its team, build its brand, and promote its services, as well as perfect the partnership with its partners.

Meituan Dianping received USD 4 billion with a valuation at USD 30 billion led by TencentCrop on October 19.

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Kaikai Shi

Kaikai Shi writes for us. He holds a bachelor's degree in Biotechnology at Zhejiang University. His interests are in new technology and reading. Kai believes that new technology will change the world we live in, and is trying to engage himself in this process.

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