Startup Funding: August 2021

More than $3.5 billion in funding was funneled into 35 startups last month, much of that scattered across the globe. Several Chinese companies received significant funding as the country bulks up domestic production of wafers and GPUs. In addition, with attention increasing on the need for electric vehicles and renewable energy, big investments went into battery manufacturing startups. One company making EV batteries garnered $1.5 billion, while several other large rounds were targeted at grid-scale energy storage companies. Metax designs high-performance, reconfigurable GPUs based on its own instruction set for data center, gaming, and AI. Funds will be used for R&D, and the company recently launched a corporate research institute at Zhejiang University. Based in Shanghai, China, Metax was founded in 2020.