ThinCI announced today that it has raised $65 million in venture capital as it seeks to create new uses for its artificial intelligence chips. The latest round was led by Japanese automotive component giant Denso. Other investors include GGV Capital, Wavemaker Partners, and SG Innovate. “We are thrilled and honored by the financial commitment from such major investment funds and automotive and industrial giants,” said ThinCI CEO Dinakar Munagala in a statement. “The quality of investors coming together to invest in ThinCI validates our vision of industries adopting AI by leveraging our hardware and accompanying software stack. The interest from our automotive investors demonstrate their confidence that we can build on our early access partnerships with select automotive players and that our silicon will deliver the performance required to meet all five levels of autonomous driving.” Based in El Dorado Hills, California, ThinCI is developing silicon, but also software and a development kit that allows its hardware platform to be extended to a wide range of uses. The company sees next generation mobility as one its most promising areas. But its AI chips also are being used for personal electronics, smart home automation, industrial applications, and smart cities. Sign up for to start your week with VB's top funding stories.
ThinCl has closed a $65m funding round led by Japanese car-parts giant Denso. The company is also working on an app that will let users share their thoughts about the weather with friends and family. It's working on software and a kit that enables its hardware platform to be developed for next-generation mobility, personal electronics, smart-home automation, industrial and smart-city applications.