Chinese artificial intelligence (AI) unicorn Zhipu AI has invested in AI infrastructure firm SliconFlow, according to a company release on July 4.
AI infrastructure refers to the software and hardware required to deploy and train the AI-powered applications and solutions — ranging from graphics processing units (GPU) to computing infrastructure platforms.
Chinese cybersecurity firm 360 Security Technology and local investment firm Tsinghua Capital participated in the angel+ round. Existing backer Glory Ventures also re-upped in the round.
The proceeds will help the Beijing-registered firm to accelerate its product innovation, per the release.
Founded by Yuan Jinhui, former founder and CEO of open-source deep learning framework OneFlow in August 2023, SiliconFlow specialises in AI-specific software development, which enables developers to deploy their AI applications with greater flexibility and lower costs.
The firm closed its 50 million yuan ($6.9 million) angel funding round in January this year led by local venture capital firm Sinovation Ventures. Participating investors of the round include Glory Ventures and MiraclePlus, among others.
Chinese generative AI sector had a record 2023 when investors flocked to bet big on the country’s major generative AI projects including the likes of 01.AI, MiniMax, Zhipu AI, and Baichuan Intelligent Technology.
Despite an aggregate of $1.4 billion of venture funding recorded in the Chinese AI sector in Q1, nearly $1 billion or 71.4% of the total funding went into Moonshot AI, according to a report released by data provider CB Insights.
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DealStreetAsia has also compiled a table listing all prominent venture capital transactions in Greater China from July 1 –7, 2024.
