Chinese GPU maker Moore Threads has closed a $313 million series A funding round.
Source Code Capital, which previously invested in Mexican fintech Stori, led the round alongside state-backed Shanghai Goushend Capital.
China Construction Bank, Bohai Sheng Industrial Fund Management and China Merchants Securities also joined the round.
The semiconductor company said it would use the funds to further develop its chips and move towards mass production, as well as secure intellectual property.
“The domestically-made full-featured GPU developed and designed by Moore Thread, taking into account computing power and computing efficiency, can empower a wider range of digital application scenarios and contribute to the development of China's digital economy innovation power,” said Zhou Daohong, general manager of Shanghai Guosheng Capital.
Early backers tied to TikTok
Moore Threads Intelligent Technology Beijing Co., is based in the Chinese capital and was founded in October 2020.
Among the startup’s earlier backers is ByteDance, the parent company of TikTok, which is planning to develop its own cloud AI products and services.
Moore Threads is planning chips that house a suite of functional cores covering 3D graphics, logic computing, and AI training.
The startup has its eyes set on deploying its GPUs in several markets, including smart energy, autonomous driving, and industrial simulation.