Horizon Robotics, one of China's leading designers of AI chips announced Wednesday that it had raised 600 million U.S. dollars in its latest funding round, with the company valued at 3 billion U.S. dollars.

Following 100 million U.S. dollars of financing led by Intel Capital in late 2017, this round of investment was led by SK China, SK Hynix and several top carmakers.

"The key strategic partners and resources introduced in this financing round will further accelerate the pace of research and development and commercialization for the company," said Yu Kai, founder and CEO of Horizon Robotics.

The company said it would increase its investments in the fields of AI and edge computing.

The Beijing-based company was established in 2015.

Focusing on edge AI processors and autonomous driving computing platforms, Horizon Robotics have established cooperation with automobile manufacturers including Audi, Bosch, Chang'an and BYD.