China’s AI Chip Startup Enflame Raises $273.68 mn in VC Funding Round

Enflame, a burgeoning artificial intelligence (AI) chip startup based in China and supported by tech giant Tencent, has announced a successful funding round, raising 2 billion yuan (approximately $273.68 million). The investment came from various investors, notably funds associated with a government authority in Shanghai.
Dollar spending on technologyThe increasing momentum in generative AI, propelled by the achievements of OpenAI’s ChatGPT, has piqued investor interest in companies engaged in AI-related infrastructure, particularly AI chips.

Enflame revealed that this recent fundraising endeavor was co-led by several investors, including funds affiliated with Shanghai International Group, an entity under the supervision of the state asset regulating authority in the municipality of Shanghai.

Tencent, a vital collaborator with Enflame in the development of Zixiao, an AI chip, and a prior contributor to the startup’s fundraising efforts, also took part in this latest investment round, as affirmed in a statement by Enflame, Reuters news report said.

The infusion of this significant capital into Enflame bolsters the company’s pursuit of advancing AI chip technology and positions them strategically to navigate the burgeoning AI landscape, fostering innovation and driving advancements in AI-related infrastructure.

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