Iluvatar Corex ("Iluvatar" or "the Company"), a leading graphics processing units for general-purpose computing (GPGPU) developer in China, announced on 1 March, 2021 that it has completed its Series C financing of RMB1.2 billion. The financing was co-led by Cedarlake Capital and Centurium Capital, and participated by Gortune Investment and China Unicom Innovation Investment. The financing is expected to facilitate the Company to enhance its research capabilities of its core products and accelerate the commercialization to empower more customers in multiple sectors.

Illuvatar, headquartered in Shanghai, is the only company in China that has chip products under the GPU architecture. The company initiated the 7-nanometer cloud computing GPGPU chip in 2018 and was taped out in May 2020, and its usability was proved last December. The flagship GPGPU product, BI, provides more flexible programming ability and stronger performance at a lower cost than competing mainstream offerings.

GPU is the mainstream solution for powering artificial intelligence computation in areas like autonomous driving, finance, education, and healthcare. GPU chips, which can satisfy general graphics and high-performance computing, are deemed to represent the height of chip technology.

Yi Bao, Founder and Chairman of Cedarlake Capital, remarked : “GPGPUs are poised to become a pivotal force underpinning the digital world of the future. Iluvatar, with its elite R&D and engineering team, has crafted a proprietary software and hardware architecture. This innovation, characterized by superior performance and a competitive cost structure, is well-positioned to make substantial inroads into the market currently dominated by foreign AI GPGPU chips makers."