(Yicai Global) Nov. 26 -- Moore Threads, a Chinese computer graphics hardware firm founded just over a year ago, has completed a CNY2 billion (USD313 million) Series A funding round to expand its output.

The fundraiser was co-led by Shanghai-based Guosheng Capital Management, 5Y Capital, and a fund affiliated to BOC International Holdings, the Beijing-based startup said in a statement on WeChat yesterday. Qianhai Mother Fund Equity Investment Shenzhen and others participated in the round.

Moore Threads will spend the money on mass production of graphics processing units, research and development, as well as ecosystem expansion. The company plans to apply its GPUs in various fields such as the digital industry, autonomous driving, and robotics, it added.

The startup has successfully developed its first GPU and started adapting it to mainstream central processing units and operating systems in China. The company has teamed up with hundreds of partners to advance the development of China's homegrown GPU applications, it added.

Since Moore Threads was founded in October 2020, it has finished three funding rounds. During the first two fundraisers, the company raised billions of Chinese yuan from investors, including Shenzhen Capital Group, Sequoia China Investment Management, and GGV Capital.

Editor: Emmi Laine, Xiao Yi