Kneron, a San Diego, CA-based company that is developing AI chips to power self-driving cars, among other autonomous machines, announced that it raised $49 million in an extension to its Series B funding.
SaaS Investors
The investment was from investors including Foxconn, Alltek, Horizon Ventures, Liteon Technology Corp., Adata, and PalPilot, which brings Kneron’s total raised to $190 million.
Kneron Use of Funds
The company plans to use the newly raised funds to bolster its go-to-market efforts in the automotive industry and expand its team, particularly in the R&D division. The company aims to leverage its unique advantages to capture opportunities in the growing AI chip market.
About Kneron
Founded in 2015 by Albert Liu and Frank Chang, Kneron is a provider of full-stack edge AI solutions. Kneron is dedicated to the development of integrated edge AI hardware and software solutions for vehicle, security, and broader AIoT use cases. The company’s mission is to empower the proliferation of accessible, low-latency, and secure AI applications by creating networks of independently intelligent devices as enabled through full-stack Kneron solutions.
Funding Details
Company: Kneron, Inc.
Raised: $49.0M
Round: Series B Extension
Funding Month: September 2023
Lead Investors:
Additional Investors: Foxconn, Alltek, Horizon Ventures, Liteon Technology Corp., Adata and PalPilot
Company Website: https://www.kneron.com/
Software Category: Edge AI Solutions
Source: https://techcrunch.com/2023/09/26/ai-chip-company-kneron-raises-49m-to-scale-up-its-commercial-efforts/