Unisound raises US$100 million to fund AI, chip development

May 16, 2018 12:49
Huang Wei, Unisound’s founder and CEO, said a number of China's core technologies are still dependent on the United States and other countries. Photo: Unisound

Unisound, a Chinese artificial intelligence (AI) solution provider, announced it has raised US$100 million in a series C round of funding.

The round was led by China Electronics Health Fund, and participated in by Qihoo 360 Technology Co. Ltd., Qianhai Wutong Mergers and Acquisition Funds and Hanfor Capital Management, a private equity arm of Hanfor Holdings Ltd., the Hong Kong Economic Journal reports.

Headquartered in Beijing, the Chinese mobile internet startup offers intelligent voice and speech processing technologies, particularly in the areas of machine learning, cloud computing and big data.

It is focused on the fields of healthcare and medical technology while also venturing into the realms of home appliances, automobiles and educational products.

The company raised 300 million yuan (around US$47 million) in August 2017, or a total of US$211 million before the latest funding, data from Crunchbase showed.

Unisound’s core technology team is said to comprise people from multinational enterprises and universities including IBM, Shanda Interactive, JPMorgan Chase, the Chinese Academy and the University of Cambridge.

The company was set to release its first AI chip on Wednesday.

Huang Wei, Unisound’s founder and chief executive, said a weakness of China's core technologies is that a number of them are still dependent on the United States and other countries for key components.

Huang said proceeds from the latest financing will be allocated to research and development on AI and chips.

This article appeared in the Hong Kong Economic Journal on May 15

Translation by Jonathan Chong

[Chinese version 中文版]

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Hong Kong Economic Journal