China’s AI start-up Aibee completed USD 74 mln Series A1 funding
Dec 06, 2019 (China Knowledge) - China’s artificial intelligence (AI) startup Aibee has successfully raised RMB 522 mln (USD 74 mln) in its Series A1 funding round.
Founded in 2017, Aibee is an AI solutions provider based in Beijing. The startup focuses on helping corporate clients to implement comprehensive AI technologies and solutions such as computer vision, speech recognition, natural language processing, big data analytics and robotics. The company currently has offices in both Beijing and Silicon Valley.
Aibee has formed numerous strategic partnerships with companies such as Wanda Group, K11 and Chow Tai Fook. It has raised close to RMB 1 bln (USD 170 mln) of funding to date.
Aibee will use the fund raised to expand its human resource, enhance its business operations and accelerate commercialization. Aibee will also further cooperate with its investors from the Series A1 financing round in terms of overall business strategies and operations. The company will continue in the R&D of its AI technologies, and improve the implementation of these products and services for various clients.
The latest funding round was led by private equity firm ClearVue Partners and leading technology investment fund Singularity Power Capital (SPC).
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