China’s Horizon Robotics bags $600m Series B financing
Chinese artificial intelligence firm Horizon Robotics has secured a $600-million Series B financing jointly led by SK China, SK Hynix and several automotive groups.
The funding round values Horizon Robotics at $3 billion, the company said in a statement. The investment was joined by China Oceanwide Group’s Oceanwide Capital, CMBC Capital, CLSA’s CSOBOR Fund, Oceanpine Capital, as well as existing shareholders including Morningside Venture Capital, Hillhouse Capital, V Fund Management and Linear Venture.
The round will enable Horizon to invest in product and technology development, and bring new commercialisation opportunities, the firm added.
In late 2017, Intel Capital led a $100-million Series A financing in Horizon.