The San Diego and Taipei-based startup is quietly raising funds from some of the biggest names in the electronics industry. Kneron, which specializes in energy-efficient processors for artificial intelligence, has just received significant strategic funding from Taiwanese giant Foxconn and Winbond, which is creating integrated circuits.
The deal came a year after Kneron concluded a $ 40 million deal with Horizons Ventures. Other prominent investors in the company include Alibaba Entrepreneurship Fund, Sequoia Capital, Qualcomm, and SparkLabs Taipei.
Kneron declined to disclose the dollar amount when it comes to the Foxconn and Winbond investment, due to investor demands, but it was pointed out that it was an eight-figure contract.
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Unlike some competitors, Kneron designs chips for a wide range of uses, from manufacturing, smart homes, smartphones, robotics, surveillance, payments, all the way to autonomous driving. The company not only produces chips but also AI software built into the chips.
Like many other companies, Kneron is targeting an initial public offering. The company is expected to start making a profit in 2023, after which Kneron will most likely be publicly listed.