(Yicai Global) June 25 -- Baiing Technology (Beijing), a startup providing smart marketing services, has recently secured CNY100 million (USD14.5 million) investment.
This is the second funding round that the firm has completed in the past two months.
Investors include the affiliated industrial fund under Hangzhou-based leading financial software and network service provider Hundsun Technologies, online tech media 36Kr reported today.
The Ant Financial Services arm of Hangzhou's tech giant Alibaba Group Holding, which is a fintech titan in China, is Hundsun Technologies' major shareholder. Other participants in this round of financing also include the affiliated industrial fund under Shanghai bourse-listed Sunyard System Engineering.
This financing round mainly aims to introduce collaborative partners, Wang Lei, the chief executive of the Beijing-based startup told 36Kr, adding both Hundsun Technologies and Sunyard are the country's leading service providers in the fintech sector, and Baiing will deepen its business synergy with these partners to accelerate its future market expansion in the sector.
The company previously secured CNY120 million from GX Capital in its A round and has raised nearly CNY300 million thus far, plus the investment it gleaned in its pre-A round last year.
Founded in September 2016, Baiing is dedicated to smart data technologies and also focuses on the commercialized applications of artificial intelligence and Big Data. The AI voice robots that the startup develops possess the core technologies of speech recognition, semantic understanding, speech synthesis and processing using Big Data, and are designed to help large, medium and small companies reduce marketing costs.
Wang Lei, Baiing's chief executive, successively served as a senior executive at Huawei Technologies, Tencent Holdings, Alibaba Group Holding and other high-tech household names. Many senior AI experts, scientists and technical talents that originally worked for Alibaba and Tencent have now joined the firm's executive team.
The company is a pathfinder in China's intelligent marketing sector, and it has enlisted over 30,000 corporate clients, including Alibaba, Tencent, Baidu and other heavyweights in the sector, its official site states.
Editor: Ben Armour