Investment firms 5Y Capital, Hillhouse Capital and Capital Today led a $150m Series C1 funding round in Horizon Robotics Technology, a provider of AI chips to robots and smart mobility and autonomous driving solutions. The $150m that Horizon raised is the first close of the intended $700m Series C funding round. With the proceeds, Horizon hopes to increase the pace of commercialization and the development of its automotive chips and autonomous driving solutions coupled with an intent to build an open ecosystem for industry partners. On January 7, 2021, Horizon Robotics raised $400m in its Series C2 funding round. The round was led by CATL, a Chinese battery manufacturer and technology company, with participation from Baillie Gifford, YF Capital and CITIC PE. Horizon has completed nearly 80% financing goal for its Series C round, with a total of $550m raised.