BiRen Technology's 1.1 billion yuan financing sets a new record in the chip field

BiRen Technology, a general-purpose smart chip design company that was established only 9 months ago, recently announced the completion of a round A financing totaling 1.1 billion yuan, setting a new record for round A financing in the same industry in recent years, which is particularly valuable in the "post-epidemic era".

This round of financing was led by Qiming Venture Partners, IDG Capital and Walden International China Fund, and jointly invested by well-known investment institutions and industry parties such as Gree Ventures, Songhe Capital, Yunhui Capital, China Development Bank Equipment Fund, Huaying Capital, CCI Holdings, and Glory Ventures.

It is reported that the funds raised in the A round will be used to accelerate technology product research and development and market expansion.

Zhang Wen, founder and chairman of BiRen Technology, said, "We are very honored to receive the recognition and support of many top investment institutions. The establishment of BiRen Technology coincides with the development of China's semiconductor industry at a critical moment, strictly speaking, it has reached the crossroads of industrial transformation. We hope to undertake the historical mission and become a practitioner of changing China's chip industry."

BiRen Technology was founded in 2019. The team is composed of core professionals and R&D personnel in the fields of chips and cloud computing at home and abroad. It has deep technical accumulation and unique industry insights in the fields of GPU, DSA (dedicated accelerator) and computer architecture.

BiRen Technology is committed to developing original general computing systems, establishing efficient software and hardware platforms, and providing integrated solutions in the field of intelligent computing. In terms of development path, BiRen Technology will first focus on cloud-based general intelligent computing, gradually surpass existing solutions in multiple fields such as artificial intelligence training and reasoning, graphics rendering, and high-performance general computing, and achieve breakthroughs in domestic high-end general intelligent computing chips.

BiRen Technology aims to become a high-tech company with an international vision, leading technology, and participation in the formulation of future industry standards, providing powerful, flexible and efficient general computing power for all walks of life.

Zhou Zhifeng, partner of Qiming Venture Partners, said, "In the field of intelligent computing/AI, chips account for 40-50% of the value of the overall technology stack, while in other fields they account for less than 10%, so this is the biggest opportunity in the chip field in recent decades. To challenge such a big opportunity, an all-round team is the most important foundation. The core team of BiRen Technology has first-class experience in technology, market and capital. In addition, China is the largest consumer market for AI chips. It is easier to succeed if we are close to demand and fly close to the ground."

Li Xiaojun, partner of IDG Capital, said, "GPU and AI computing chips are a huge, rapidly developing and important market. Due to the complexity and difficulty of the technology, it is a big challenge to the comprehensive capabilities of the team. As a newcomer in the industry, the team of BiRen Technology has strong experience and complementarity from academia to industry, hardware to software, architecture to ecology, and domestic to overseas. In just half a year, we have accumulated nearly 100 professional talents, which also proves the team's appeal, cohesion and execution."

Wang Lin, partner of Walden International, said, "After years of rapid development, China's integrated circuit industry has entered a new stage of development driven by independent control and application innovation. However, as one of the 'three major components' of semiconductor products, the development of domestic GPUs has obviously lagged behind domestic CPUs and memories. BiRen Technology has assembled a strong international R&D team and multi-party industrial capital. In addition, the founder's vision and pattern and his ability to control the direction of the industry, we are firmly optimistic about the future development of BiRen Technology and firmly believe that it will make great contributions to the industry."