Chinese Leading GPGPU Developer Iluvatar CoreX Completes RMB1.2 Billion Financing Led by Centurium Capital and Cedarlake Capital2021-03-01
March 1, 2021 – Iluvatar Corex (“Iluvatar” or “the Company”), a leading graphics processing units for general-purpose computing (GPGPU) developer in China, today announced that the Company has completed C-round financing of RMB1.2 billion. The financing was jointly led by Centurium Capital and Cedarlake Capital, and participated by Gortune Investment and China Unicom Innovation Investment. The financing is expected to facilitate the Company to enhance its research capabilities of its core products and accelerate the commercialization to empower more customers in multiple sectors.
Centurium first invested in Iluvator in 2019 through the Company’s B round financing.
GPU is the mainstream solution for powering artificial intelligence computation in areas like autonomous driving, finance, education, and healthcare. GPU chips, which can satisfy general graphics and high-performance computing, are deemed to represent the height of chip technology.
Illuvatar, headquartered in Shanghai, is the only company in China that has chip products under the GPU architecture. The company initiated the 7-nanometer cloud computing GPGPU chip in 2018 and was taped out in May 2020, and its usability was proved last December.
The flagship GPGPU product, BI, provides more flexible programming ability and stronger performance at a lower cost than competing mainstream offerings.
Charles Lin, Executive Director of Centurium Capital, commented, “We strongly believe the huge prospects of China’s semi-conductor industry and are very impressed by the technical strengths of Iluvator CoreX. In the past two years, we have witnessed the company’s journey of every step of BI’s development, and pleased with the recent research and product breakthrough. We look forward to accompanying and supporting the Company’s continuous advancement on its path of commercialization and mass production.”