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China GPU-to-AI startup lands $50 million funding January 17, 2021 // By Peter Clarke
Computer vision and artificial intelligence chip vendor Vastai Technologies Inc. (Shanghai, China) has closed a Series A round of finance worth $50 million.
The round was led by Kuaishou, Redpoint China Ventures, 5Y Capital (formerly Morningside Venture Capital), with SAIF Partners and all existing shareholders (including Zhen Fund, Sirius Capital and Glory Ventures) as followers.
The company said the money will be used to scale up production of chip products, expand R&D and for global sales.
Founded in December 2018, Vastai has focused on AI computing, computer vision and video processing.