Chinese Tech Giant Baidu invests in Swiss Startup aiCTX
17 December 2018 – Baidu Ventures L.P. and aiCTX AG executed investment agreements pursuant to which Baidu Ventures became a new equity investor in aiCTX.
aiCTX is a Swiss startup company focused on neuromorphic computing. It provides dedicated mixed-signal neuromorphic processors which overcome the limitations of legacy von Neumann computers to provide an unprecedented combination of ultra-low power consumption and low-latency performance.
Baidu Ventures is an independent venture fund established by Baidu in 2017. Its investors include Baidu as well as other leading financial institutions and businesses. Baidu Ventures currently manages roughly USD 500M across 3 funds, and has offices in Beijing, San Francisco and Frankfurt. Its mission is to support entrepreneurs and companies who are spearheading the new age of artificial intelligence.
Walder Wyss has acted as legal counsel to Baidu Ventures. The team has been led by Alex Nikitine (Partner, Corporate/M&A, Capital Markets) and further included Marion Bähler (Associate, Corporate/M&A), Hugh Reeves (Associate, IP/IT), Simone Wetzstein (Associate, Employment), Flora Stanischewski (Associate, Employment) and Marius Breier (Associate, Tax).