Suiyuan Technology Completes 1.8 Billion Yuan C Round of Financing
January 5, 2021, Shanghai, China – Suyuan Technology, a cloud computing platform focused on the field of artificial intelligence, announced the completion of 1.8 billion RMB Series C financing, led by CITIC Industrial Fund, a fund under CICC Capital, and Primavera Capital, with multiple new and existing shareholders including Tencent, Wuyuefeng Capital, and Redpoint Ventures China Fund participating in the investment.
Founded nearly three years ago, Suyuan Technology has completed the research and development and mass production of its first high-performance general-purpose AI chip, "Suisi," and has successively launched several AI computing acceleration products for data centers. These include "Yunsui T10" and "Yunsui T11" for cloud training scenarios, "Yunsui i10" for cloud inference scenarios, and the "Yusuan" software platform supporting these products. Suyuan Technology has become the first domestic company to possess both high-performance cloud training and cloud reasoning products . Currently, Yunsui T10 has been commercially deployed in leading customers in the internet and finance industries, and Yunsui i10, released last month, already supports several mainstream AI servers in the industry and is cooperating with leading customers.
"AI computing power is the core of the future digital economy infrastructure and a fiercely contested area in the hard technology field. In 2020, we successfully achieved the commercial deployment of an AI training cluster composed of Yunsui T10 accelerator cards in our customer's data center. This is the best verification and recognition of Suyuan Technology's fully self-developed products and technologies, marking that Suyuan Technology is at the forefront of the domestic industry." Suyuan Technology founder and CEO Zhao Liting said, "'Developing large chips and competing in hard technology' is a long and arduous journey. I am very honored and grateful to have these like-minded partners working alongside us! The completion of Series C financing will bring extensive industrial resources, helping our industrial cooperation, ecosystem construction, and business scale achieve faster development in 2021. Suyuan Technology will use flexible and diverse cooperation models and product forms to work with partners to empower industrial upgrading, create value for customers, and promote the development of the AI industry with affordable computing power."
"Over the past two years, Suyuan Technology has quickly launched cloud training and inference products with precise execution and collaboration, achieving a first-mover advantage. As a technology-driven company, we have already planned and are fully executing the product technology roadmap for the next three years, and will take software and hardware system joint development as the core to iterate products and establish Suyuan Technology's competitive advantage in the market. At the same time, we will also increase our efforts in exploring cutting-edge technologies in the field of artificial intelligence, so that future innovations can enable larger-scale commercial value." Suyuan Technology founder and COO Zhang Yalin said, "With the help of Series C financing, Suyuan Technology will expand its recruitment scale, and lay out future organizational upgrades in advance to support the company's rapid realization of talent needs for business scaling."
Background Information:
Suyuan Technology was founded in Shanghai in March 2018 and has R&D centers in Shanghai and Beijing. It is the first domestic start-up company to enter the data center market with high-end AI training products, dedicated to providing affordable infrastructure solutions for the development of the AI industry and providing independent intellectual property rights, high computing power, high energy efficiency ratio, and programmable general-purpose AI training and reasoning products . The core members of the company's R&D team have more than 15 years of experience in the development and mass production of high-end chips and related software ecosystems, and have rich practical experience in engineering and productization, successfully developing and mass-producing many large-scale chips.
In June 2019, China Zhongji Investment participated in Suyuan Technology's Series A financing. Artificial intelligence is a huge driving force for the transformation and upgrading of various industries, China Zhongji Investment has been closely following the development of this field and looks forward to the future cooperation with more investment institutions and excellent enterprises to help the industry move forward rapidly.
