Baidu Ventures Invests $1.5 Million in Zurich AI-Computing Startup aiCTX
05.12.2018
Baidu Ventures, the investment fund founded by Baidu Inc., invested $1.5 million in aiCTX AG to develop commercial applications for neuromorphic computer chips. The investment closes the Zurich-based startup’s pre-A-round.
 Ning Qiao, CEO & co-founder of aiCTX
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"We are very pleased to have BV with us on the next step of our journey," said Ning Qiao, aiCTX AG’s chief executive officer. "BV recognized our years of expertise in combining mixed signal neuromorphic designs with ultra-low power and ultra-low latency asynchronous digital circuits in advanced VLSI processes."
Baidu Ventures, a unit of the world’s second-largest search engine company, manages $500 million in funds investing in AI-focused companies. aiCTX develops computer processors for AI-devices that need ultra-low-power and ultra-low-latency. These include autonomous robots, embedded devices and wearable healthcare systems.
aiCTX, a spin-off from the Swiss Federal Institute of Technology in Zurich, won 10,000 Swiss francs from Venture Kick in 2016 for its business idea. That money “helped us build our initial team”, Qiao said by email.
Baidu Ventures, a unit of the world’s second-largest search engine company, manages $500 million in funds investing in AI-focused companies. aiCTX develops computer processors for AI-devices that need ultra-low-power and ultra-low-latency. These include autonomous robots, embedded devices and wearable healthcare systems.
aiCTX, a spin-off from the Swiss Federal Institute of Technology in Zurich, won 10,000 Swiss francs from Venture Kick in 2016 for its business idea. That money “helped us build our initial team”, Qiao said by email.