Enflame Tech secures RMB700m Series B by Summitview Capital and Tencent

Enflame Tech, which focuses on the cloud computation power platform in the field of artificial intelligence, has received 700 million yuan in a Series B financing round. The leading investor was the semiconductor industry fund Summitview Capital, with participation from Tencent and others.

Enflame Tech, which focuses on the cloud computation power platform in the field of artificial intelligence, has received 700 million yuan in a Series B financing round. The leading investor was the semiconductor industry fund Summitview Capital, with participation from Tencent and others.

Proceeds from the fresh round will be mainly used for product mass production, technical support team expansion, introduction of high-end experts, and continuous investment in the second generation of cloud training and inferred product development, to achieve a leap development from Enflame 1.0 to Enflame 2.0.

Enflame Tech was established in March 2018. The goal is to provide clients with Chinese general-purpose artificial intelligence software and hardware solutions of cloud-based AI training and inference. The company provides AI inclusive computing power for cloud service providers such as public cloud, private cloud and hybrid cloud, serve financial, medical, education and other industries, as well as “new infrastructure” intelligent data centers.

Prior to this round, the company had received 300 million yuan in a Series A financing round in June 2019, led by Redpoint China Ventures, and co-invested by Oceanpine Capital, Yunhe Capital, Tencent, Riverhead Capital, ChinaEquity Group and others.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/10/enflame-tech-secures-rmb700m-series-b-by-summitview-capital-and-tencent/.

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