Black Sesame bombs on HK exchange

Last year, the eight year-old AI and ADAS chip maker made a loss of $677 million on revenues of $450 million.

Black Sesame was founded in 2016 by CEO Shan Jizhang and President Liu Weihong. Shan is a former OmniVision vp while Liu worked at GM and Bosch.

“We are fortunate to be the trendsetter in the AI era,” said Shan at the IPO ceremony, “we have always been at the forefront of artificial intelligence and autonomous driving.” 

Before the IPO Black Sesame had $140 million in the bank after ten funding rounds and now has another $122 million raised from the IPO. It says it will spend the IPO money mostly on R&D.