Korean conglomerate invests in Horizon Robotics

Following an increase in outbound investment from Korea, SK Hynix has targetted a sector that it knows well: the semiconductor industry.

Chinese artificial intelligence unicorn Horizon Robotics has closed its Series B fundraising from South Korean conglomerate SK Hynix and several unnamed Chinese car manufacturers. 

SK Hynix, the world’s second largest dynamic random-access memory manufacturer, led the $600 million investment together with its parent company SK Group. It is a strategic investment for SK Hynix that it hopes will create a synergy to build 5G, smart cities and autonomous driving technology in China.

Existing investors also participated in the round, including Hillhouse Capital, Morningside Venture Capital, V Fund Management and Linear Venture. China Oceanwide, CMBC Capital, CLSA’s Fund, and Oceanpine Capital joined the round...

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