(Yicai Global) Jan. 17 -- Chinese artificial intelligence chipmaker Axera Technology has raised CNY800 million (USD126 million) from renowned investors such as food delivery giant Meituan in its second round of financing within the past six months.

Several investment institutions, including Qiming Venture Partners and GGV Capital, as well as Beijing-based Meituan joined Axera's Series A++ round of funding, its fourth fundraiser, the Beijing-headquartered startup said in a statement on its WeChat account today. The firm intends to use the proceeds to attract top industry talent and to expand its business, it added.

The global demand for AI chips is growing explosively, said Axera. The market scale is expected to grow to USD72.6 billion by 2025 after reaching USD17.5 billion last year, according to data from AI research institute Tractica.

Founded in May 2019, Axera develops high-performance, low-power computer vision processors that can be widely used in fields such as smart cities, autonomous driving, wearables, and smart homes. The company started mass-producing two products in less than three years.

Axera finished its Series A+ round of financing last August, raising hundreds of millions of yuan. The round was jointly led by Inno Chip and Meituan.

Editor: Emmi Laine, Xiao Yi