Shanghai (ZXZC)- Chinese AI chip developer Black Sesame Technologies announced on Wednesday it has secured strategic investment from Boyuan Capital, an investment platform set up by Bosch, signifying a deeper cooperation between the Chinese chip firm and the German giant auto parts supplier in autonomous driving domain. 

Photo credit: Black Sesame Technologies

It was the first time for Bosch to invest in a Chinese autonomous driving chip company. Prior to the new move, the German auto supplier poured money in other segments along the autonomous driving industrial chain, involving such companies as software platform supplier Momenta, LiDAR provider Hesai Technology, as well as autonomous driving solution providers UISEE and Trunk.

Black Sesame Technologies and Bosch signed a framework agreement as far back as 2018 to carry out cooperation in areas like smart city, smart home, intelligent-connected vehicle, and autonomous driving.

“Upon completion of the new strategic investment, we will make joint efforts to develop intelligent driving solutions and boost the application of intelligent driving technologies,” said Liu Weihong, co-founder and COO of Black Sesame Technologies.

Boyuan Capital was founded in Sept. 2021 as Bosch's new investment arm based in Shanghai for deep-tech investments in China. It focuses on investment in such fields as sustainable transportation, intelligent manufacturing, IoT (Internet of Things), AI, semiconductor, and carbon neutrality.

Black Sesame Technologies is dedicated to the R&D of chips and platforms with high computing power. Last year, it raised hundreds of millions of dollars in a strategic funding round and a Series C financing, which valued the company at nearly $2 billion. Notably, Xiaomi Yangtze River Industry Investment Fund joined both of the rounds.