TMTPOST--Infinigence AI, a Shanghai-based artificial intelligence infrastructure startup founded just 16 months ago, has secured nearly 500 million yuan (US$ 70.2 million) in a Series A funding round, pushing its total funding to almost 1 billion yuan (US$ 140.4 million).

The funding round was led by Social Security Fund Zhongguancun Independent Innovation Investment Fund, Qiming Venture Partners, and Hongtai Aplus, the company announced via WeChat. Strategic investors, including Lenovo Capital and Incubator Group, Xiaomi, and others, also participated.

The proceeds from the round will be allocated toward talent acquisition, technology research and development, and the commercialization of products, according to Infinigence AI. The company is positioning itself as the leading "computing power operator" in the AI models era.

Since its founding in May 2023, Infinigence AI has quickly attracted significant backing. The company previously completed funding rounds in May and November last year, with support from major investors, including Chinese tech giant Baidu, Zhipu AI, and Sequoia China. In April, Infinigence AI launched its Infini-AI platform, which focuses on the development and servicing of AI models, with clients such as Zhipu AI, MoonShot, and Shengshu AI utilizing its heterogeneous computing power.

Co-founder and CEO Xia Lixue highlighted the growing opportunities in AI 2.0 and the mismatched supply and demand within China’s computing power ecosystem as key factors driving the company's rapid growth.

"By activating a diverse range of heterogeneous computing power and optimizing the interaction between hardware and software, Infinigence AI aims to slash the cost of implementing AI models by 99.99%, making them as accessible as utilities like water and electricity," the company stated. "This will usher in a new productive force that will benefit the entire industry and accelerate the inclusive progress of artificial general intelligence."

Infinigence AI is led by Wang Yu, a professor in Tsinghua University's Electronic Engineering department, alongside CEO Xia and Chief Scientist Dai Guohao, both of whom were students of Wang.