AI chip firm Kneron raised $49 million in a Series B extension round led by Foxconn, the Taiwanese electronics assembler for Apple’s iPhones. The funding round also included participation from Alltek, Horizon Ventures, Liteon Technology Corp., Adata, and PalPilot.
Among the investors in the round were the Taiwanese behemoth Foxconn, which makes Apple’s iPhones, and the communications technology firm Alltek.
Kneron has now raised $97 million in total thanks to the latest round of funding. The business intends to use the money to hasten the commercialization of its artificial intelligence (AI) chips, which are intended to power cutting-edge products like consumer electronics and automobiles.
NeuReality, another player in the market with similar AI inferencing acceleration technology, is one of Kneron’s rivals. Other newcomers include Hailo, Mythic, and Flex Logix. With its tensor processing units, Google is battling other market leaders for supremacy in AI inferencing.
As a result of Kneron’s chips’ unique focus on edge computing, they are able to carry out AI activities independently of the cloud. Numerous advantages result from this, including lower latency, improved security, and less power use.
As a result of Kneron’s chips’ unique focus on edge computing, they are able to carry out AI activities independently of the cloud. Numerous advantages result from this, including lower latency, improved security, and less power use.
Albert Liu, CEO of Kneron, told CNBC’s “Street Signs Europe” that GPUs are expensive to run which could help demand for its NPUs.
“So that will force people to switch into the more low cost (NPUs),” Liu said.
“With this tranche in funding, Kneron is specifically focused on expanding its efforts in enabling AI to make autonomous driving a reality,” Kneron said in a press release.
The investment from Foxconn is a significant validation of Kneron’s technology. Foxconn is one of the largest electronics manufacturers in the world, and its investment in Kneron suggests that it sees the potential of AI chips to revolutionize a wide range of industries.
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