BEIJING, Dec. 20, 2020 /PRNewswire/ — AInnovation just lately accomplished Collection C financing, coming into the unicorn membership. This financing spherical was led by CICC ALPHA, adopted by Guohe Capital and Riverhead Capital. The earlier shareholder Huaxing Development Capital additionally continued to extend its place. China Renaissance and CICC served as joint monetary advisors.
An AI subsidiary of Sinovation Ventures, AInnovation is a next-generation synthetic intelligence unicorn that has grown up on this wave of AI industrialization. With a mission of “AI Empowering Enterprise,” AInnovation delivers merchandise and customised enterprise options leveraging cutting-edge AI know-how, empowering conventional industries to cut back prices, enhance their enterprise effectivity and worth, and notice digital transformation.
With a two-wheel enterprise mannequin of “know-how&merchandise + trade situations”, and counting on pc imaginative and prescient and machine studying know-how, AInnovation has constructed three technical platforms: the Manuvision industrial imaginative and prescient platform, MatrixVision video intelligence platform, and Orion automated machine studying platform. On this foundation, it offers prospects in manufacturing, finance, retail and public providers and with AI merchandise and trade options that may be shortly delivered and applied. AInnovation has deeply studied good manufacturing, and created an “industrial vision-industrial automation-industrial cloud platform” enterprise structure to penetrate specialised verticals, incomes recognition from main prospects together with CISDI, CTCE Group, CIMC, Zongshen Energy, Baowu Metal Group, and Mars.
Hocking Xu, CEO of AInnovation, mentioned, “AInnovation is a banner for commercialization of AI. Since our institution over two years in the past, with a transparent technique of empowerment, infusion and fusion, we have realized speedy transformation from know-how to business worth. We have established in lots of cities throughout the nation and improved our expertise construction and capability from 5 points, serving to us present full-stack AI options with completely environment friendly execution: know-how, merchandise, trade software situations, supply and operation, and commercialization. Sooner or later, we’ll deeply root ourselves within the trade, from enterprise empowerment to worth co-creation, to understand mutual profit for us, our prospects, the trade, and our traders. We welcome know-how and commercialization expertise to hitch us to collectively fulfill the mission of our period to make use of AI to energy enterprise.”
Joseph Liang, Managing Director of CICC and Chairman of CICC ALPHA, mentioned, “There’s big potential in conventional industries, which requires activation and catalysis by rising applied sciences corresponding to AI to enter a brand new spherical of progress. This may create appreciable wealth for the world financial system. AInnovation is dedicated to selling long-term clever transformation and improve of conventional industries with AI. This conforms to the nationwide science and know-how innovation technique, in addition to trade evolution tendencies, and we’re very optimistic about their growth prospects.”
Maxwell Zhou, Member of Founding Crew and Government Director of CICC ALPHA, mentioned, “We’ve witnessed the expansion of AInnovation from Collection A to Collection C, led its Collection A, A+, and C financing, and even pursued Collection B. Empowerment of conventional industries exams the excellent power of AI firms. The AInnovation crew is each quick and resilience. That is the fastest-growing, most progressive AI enterprise with probably the most enterprise sense that we have seen in recent times. We hope that after turning into a unicorn, AInnovation will proceed to extend funding in scientific and technological innovation to empower conventional industries utilizing progressive product options.”
Tune Yi, Companion of Guohe Capital, mentioned, “Guohe Capital focuses on industrial improve and scientific and technological innovation. Regardless of the adversarial setting of this yr’s epidemic, we’ve got nonetheless maintained regular funding, and accomplished investments in additional than 10 high-quality initiatives this yr, together with AInnovation. The Guohe crew locations a lot worth on AInnovation’s enterprise considering and technological innovation power, making use of AI to energy improve of conventional industries – particularly its capacity to unravel trade ache factors and kind standardized merchandise by in-depth exploration of industries. That is according to our funding technique and worth idea. Guohe firmly believes that AInnovation will grow to be an necessary drive to advertise the long run improve and transformation of China’s conventional industries and repeatedly create worth for society.”
Li Zhenni, Head of Funding in Rising Industries of Riverhead Capital, mentioned, “Riverhead Capital’s funding philosophy is to spend money on probably the most beneficial firms. We have lengthy sought a breakthrough level for software of AI in conventional industries, however high-quality targets with strong AI know-how and in-depth understanding of ache factors in conventional industries, in a position to standardize their providers and quickly develop their scale, are very scarce. AInnovation will create nice worth for improve and transformation of conventional industries and social financial system, which inserts our funding mannequin of ‘Most worthy firms’.”
Michael Du , Companion of Huaxing Development Capital, mentioned, “We have at all times centered on AI. We consider that its in-depth software in numerous industries, particularly manufacturing and finance, is a promising long-term route. Huaxing Development Capital led Collection B funding in AInnovation final yr. Afterwards, we noticed its many sensible achievements in R&D of AI know-how, and software of such know-how together with utilization situations. We additionally extremely acknowledge their glorious crew. It is our nice pleasure to see that it is grown right into a unicorn lower than a yr after our funding. It is also a fantastic honor to proceed rising our funding in its Collection C spherical. I consider that AInnovation will convey us extra future surprises.”
Since its institution in March 2018, AInnovation has accomplished Angel, A/A+, B, and C rounds of financing, with traders together with Sinovation Ventures, CICC ALPHA, Huaxing Development Capital, Chengwei Capital, Guohe Capital, SAIF, Riverhead Capital, CreditEase and different well-known establishments. Sooner or later, it would additional improve its main place in AI by powering manufacturing, finance, retail, public providers, and different fields, accelerating the tempo of AI commercialization.