Beijing Chaoxing Future Technology

About Beijing Chaoxing Future Technology

Beijing Chaoxing Future Technology, operating as NOVAUTO, is a provider of edge artificial intelligence (AI) chips and high-efficiency computing solutions. The company was established in April 2019, jointly founded by Tsinghua University's School of Vehicle and Mobility and its Department of Electronic Engineering. The core team comprises graduates from prestigious institutions like Tsinghua University, Peking University, and Imperial College London, with extensive experience from companies such as Huawei, Baidu, and AMD.

NOVAUTO concentrates on developing software/hardware integrated solutions for intelligent driving. Its business model involves providing these high-energy-efficiency computing solutions, which include AI computing architectures and software for optimizing deployment, to automakers, Tier 1 suppliers, and autonomous driving solution providers. The company's product applications extend beyond autonomous vehicles to include smart power and smart mining industries. By 2023, the firm had achieved tens of millions of yuan in revenue.

The company's offerings are centered around AI computing chips designed for various edge intelligence scenarios. These products aim to deliver high-performance computing for functions like three-dimensional perception through multi-source fusion. A significant milestone for NOVAUTO was the completion of its Pre-B financing round in May 2024, raising hundreds of millions of yuan. This capital injection, from investors including Zhongan Capital, Longding Capital, and iFLYTEK Venture Capital, is earmarked for the development of a new generation of large model inference chips and to expand industry partnerships. Prior to this, the company had already raised over 200 million yuan in its Series A financing rounds by October 2022.