Chinese AI chip company Intengine Technology completed a new round of financing worth tens of millions of dollars, led by investment institution ZY Capital. This round of funds will be mainly used for the R&D of product, expanding sales and marketing activities.
Founded in March 2017, Intengine Technology mainly provides AI chips and solutions for various Internet of Things (IoT) terminal devices based on its self-developed Storage First Architecture (SFA). The company is registered in Beijing and has R&D bases in Beijing, Shanghai, Shenzhen, Hefei and the Silicon Valley.
At present, Intengine Technology has completed several rounds of financing and is in rapid growth. It has reached strategic cooperation with Chinese companies in smartphones, home appliances and security industries.
VOI611, the company’s first AI speech recognition chip, has been popular among many customers for its high quality recognition, low power consumption and easy integration since mass production in July 2019. This year, Intengine Technology launched the second generation products, including VOI311 (lightweight edition), VOI621 (upgraded edition) and VOI721 (enhanced edition).
In addition, this year’s shipment of Intengine Technology is mainly 611 series, which is aimed at dozens of leading manufacturers from IoT and consumer electronics industries at home and abroad. The chips of Intengine Technology can be applied to scenarios such as smart lighting, smart industrial power and smart buildings, and have been widely sold to many markets, including Asian, European and Latin American countries.
In recent years, the IoT industry has drawn much attention. According to the latest report of market research institution IDC, global IoT expenditure will reach $754.28 billion in 2021 and is expected to reach $1.2 trillion in 2025, of which the Chinese market will exceed $300 billion in 2025, accounting for about 26.1% of the global market.