Chinese auto-chip startup Black Sesame Technologies has revealed it has raised “hundreds of millions of dollars” from Xiaomi Corp and other investors.
News of the funding boost, announced on Wednesday, is a signal of how China is accelerating the development of its semiconductor industry.
Black Sesame Technologies, an AI digital imaging technology firm based in Silicon Valley and Shanghai, said its valuation was now near $2 billion.
The firm specialises in computational imaging, machine vision tech, such as camera array solutions for mobile devices, and autonomous driving technologies.
Earlier this month, the company hooked up with China’s Hesai Technology, an advanced laser radar manufacturer, to co-develop ‘integrated autonomous driving solutions’ and self-driving technologies.
- Reuters with additional editing by Sean O’Meara