Moore Threads, a Chinese graphics processing unit (GPU) enterprise, announced on Thursday that it had completed an A round of financing in which it raised 2 billion yuan ($313 million).
This round of fundraising was jointly led by Shanghai Guosheng Group, 5Y Capital and Bohai Sheng (Hubei) Industrial Fund Management and also participated in by nine institutions including CCB International, China Merchants Securities and Hubei Hongtai High-Quality Development Fund.
The funds raised this time will be spent on the mass production and manufacturing of GPU chips, research and development related to GPU SOC (System on Chip) intellectual properties, and the expansion of a China-made GPU ecosystem.
Moore Threads was established in October 2020 and is committed to building a computing platform for visual computing and AI computing. The company provides self-developed innovative intellectual property GPUs and is helping China to establish a domestic high-performance computing ecosystem.
The company has completed three rounds of financing within the last year. The financing round completed in February this year was backed by Shenzhen Capital Group Co., Ltd., Sequoia Capital and GGV Capital.
While completing the financing rounds on Thursday, the GPU startup also announced a breakthrough in its R&D, namely the company’s first fully functioning GPU chip was successfully developed on schedule.
Moore Threads has a complete software and hardware design team to design modern, full-function GPU architectures. The company’s chips are built with several types of functional cores, including self-developed 3D graphics computing cores, AI training and logic computing cores, high-performance parallel computing cores among otghers.
Wang Lixin, Chairman of Bohai Sheng (Hubei) Industrial Fund Management, said: “Metaverse, automated driving, robots and bio-computing are inseparable from the empowerment of GPU, so the demand for GPU chips may very well explode.”
Moore Threads said that it plans to employ GPU technology in many key areas of the modern, digital economy including twinning, industrial simulation, cultural creation, smart energy, smart city, smart medical care, autonomous driving, robotics, and bio-computing.