MetaX Integrated Circuits, a Chinese graphics processing unit design startup that has raised billions of yuan in financing after being set up last September, has closed its CNY1 billion (USD153.8 million) Series A round of funding, led by two state-owned equity investment platforms.

The proceeds of the fundraiser will further support MetaX's research and development of high-performance graphics processing units, said the company. , the startup has more than 300 employees, over 80 percent of which work in R&D, according to the website. MetaX, which was established in the Lingang Special Area of Shanghai’s Free Trade Zone, is in the business of high-performance GPU processors which are used to be associated with gaming but are now being used in artificial intelligence and cloud computing. MetaX is up for the challenge.

Chinese Chip Newbie Metax Bags Usd153.8 Million In Series A Round, Led By Two State Funds

Chinese Chip Newbie Metax Bags Usd153.8 Million In Series A Round, Led By Two State Funds

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