Asia Tech Wire (Sep 2) -- Chinese artificial intelligence startup Infinigence AI announced on Monday the completion of nearly 500 million yuan ($70.39 million) in Series A funding.

The round was co-led by the Social Security Zhongguancun Independent Innovation Special Fund, Qiming Venture Partners and Hongtai Fund, with followers including Lenovo Capita, Xiaomi, and iSoftStone Hi-Tech.

Infinigence AI said it will use the funds to strengthen the absorption of technical talents and technology research and development, to promote the commercialization of products, and to be the "super amplifier" of computing power for AI models.

So far, in just 16 months since its establishment, Infinigence AI has completed nearly 1 billion yuan of financing.

The company's investors include Baidu, Zhipu AI and other strategic shareholders, as well as HongShan, Monolith, ZhenFund and many other well-known investment institutions.

Founded in May 2023, Infinigence AI aims to create the best solution for integrating software and hardware for large models.