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China’s AI start-up AInnovation completed USD 57 mln Series B funding

CKN
minutes 2019/12/26 09:47:02
6,680
Artificial intelligence, Technology, Funding

Dec 26, 2019 (China Knowledge) - China’s artificial intelligence (AI) start-up AInnovation has successfully raised RMB 400 mln (USD 57 mln) in its Series B funding round.

Founded in 2018, AInnovation is an AI business solutions provider that focus in cutting-edge AI technologies to deliver AI-related products and solutions for enterprises. The company is a subsidiary of Sinovation Ventures, with business strategies covering various cities across China, such as Beijing, Chongqing and Nanjing.

AInnovation currently provides advanced AI solutions in areas such as computer vision, natural language processing (NLP) and machine learning, with clients including Gre Electric, Baowu and Nestle.

After the completion of the funding round, the company is expected to use the funds raised to further enhance its research and development of AI technologies, as well as improve its overall business strategy to ensure advanced and effective solutions for its clients from various industries.

The latest funding round was led by investment bank China Renaissance.

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