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

Aug 25, 2021•about 4 years ago

Round Type

series a

Description

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.

Company Information

Company

Meta X

About

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.