Iluvatar CoreX Completes B-round Financing Led by Centurium Capital and Princeville Capital2019-09-20
September 20, 2019 – Illuvator CoreX, China’s leading artificial intelligence chipmaker and solution provider, announced today that it has completed B-round financing led by Centurium Capital and Princeville Capital, and participated by Shanghai Electric Hong Kong and Bangsheng Capital. The funding will be used to enhance the company’s R&D efforts, market expansion, customer development and mass production.
Founded in 2015 by experts returned from Silicon Valley, Illuvator CoreX develops enterprise AI software and hardware products, platform and cloud-based AI solutions. The company has R&D centers in Shanghai, Beijing, Silicon Valley and Nanjing, led by Founder and CEO Li Yunpeng, who was the technology director of Oracle’s core database department. During his tenure at Oracle, he made important contributions to the successful launch of over 10 versions of Exadata.
Illuvator CoreX targets the AI-enabled high-performance data processing market and features proprietary high-end/cloud-based universal chips and applications, aiming to solve the core capacity issues in today’s AI era.
Industry estimates predict global AI chips market will reach US$ 34.3 billion in 2023 including over US$8.3 billion from China. Li Yunpeng, founder and CEO of Illuvator CoreX, commented that the industry is facing a turning point for increasing demand, and the company will continue to focus on integrated software and hardware approach to deliver full package of solutions that cover all scenarios of calculation capacity.