Chip start-up backed by Horizons Ventures in Taiwan mergerBusiness | Staff reporter 6 May 2021
San Diego-based semiconductor startup Kneron, which is backed by Li Ka-shing's private investment arm Horizons Ventures, has completed a merger with Taiwan-based multimedia system-on-chip solution provider Vatics.
Vatics's parent company, Taiwan-listed Vivotek, has invested US$7 million (HK$54.6 million) in Kneron in exchange for a 2.43 percent stake.
Kneron has raised about US$100 million.
Kneron's investors include Alibaba (9988), Horizons Ventures, US chipmaker Qualcomm, and American venture capital firm Sequoia Capital.
Since 2015, Kneron has worked to create end-to-end solutions optimized for artificial intelligence on edge devices, such as mobile phones, personal computers, smart home devices, security cameras, payment portals, and smart cars.
The company's key solutions include integrated system-on-chip chipsets and proprietary neural processing unit technology.
Kneron said in February that it has entered the autonomous car race with strategic partnerships.