Beijing-headquartered Aibee, an artificial intelligence (AI)-focused technology company, has raised USD 60 million in a Series A funding round led by Sequoia Capital and Red Star Macalline, China’s furniture retail chain, the Finance Asia reported on Tuesday.
Others investors in the round included Lenovo Capital and Incubator Group, China Renaissance, K2 Ventures, Zhongli Fund Management and C Ventures.
With the latest investment round, the total funding raised by Aibee has reached over USD 100 million.
Also known as AI2B, the year-old Aibee was founded by Yuanqing Lin, who was formerly the deep learning head at Chinese search engine Baidu, with an aim to upgrade vertical industries through AI total solutions such as the development of computer vision speech recognition, natural language understanding, image identification and big data analytics.
Aibee’s technology solutions are used in the retail industry to help retailers improve operational efficiency and reduce cost.
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