xi's moments
Home | Technology

AI startup 4Paradigm raises $230m in financing rounds

By Cheng Yu | chinadaily.com.cn | Updated: 2020-04-02 14:12

A logo of 4Paradigm. [Photo/4paradigm.com]

Chinese artificial intelligence startup 4Paradigm announced on Thursday that it has raised $230 million in its series C and C-plus rounds of financing, which will move its valuation to $2 billion.

The latest fundraising by the firm attracted new investors including tech giant Cisco and Lenovo Group. Sequoia Capital has remained as the company's largest external shareholder.

The move came after that the country's top five banks, including Agricultural Bank of China and Bank of Communications, all invested in the startup in previous rounds.

4Paradigm, founded in 2014, has developed and deployed cutting-edge AI solutions to help people and organizations analyze data to improve efficiency.

Its solutions have been applied into a consortium of industries, including finance, retail, healthcare, manufacturing and energy.

In the battle against the COVID-19 outbreak this year, the firm's products, precision screening for prevention and control and real-time scenario analysis, have played an important role in containing the outbreak on the front lines.

Global Edition
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349