(Yicai Global) Jan. 22 -- Chinese artificial intelligence unicorn Beijing Wusi Chuangxiang Technology -- trading as 4paradigm -- has completed its USD 700 million Series D funding round, it announced on its website today. This is the largest financing in China's AI field since 2020.
Primavera Capital, Boyu Capital, and HOPU Investments led this financing, which introduced new strategic investors such as National Manufacturing Transformation and Upgrading Fund, China Development Bank, China Reform Holding and Haitong Securities, with additional participation from institutional investors like Sequoia Capital China, CPE and Goldman Sachs.
4Paradigm will use the proceeds to accelerate its strategic planning across key industries to form an enterprise-grade AI-based ecosystem and cultivate AI talent, the company said.
Founded in 2014 and headquartered in Beijing, 4Paradigm is an emerging global leader in enterprise-grade AI, including both platform and applications. 4Paradigm AI is now deployed at clients in virtually every major sector in China, including finance, retail, manufacturing, energy, healthcare, internet, healthcare, logistics and agriculture .
The company’s valuation passed the USD1 billion mark at the end of 2018, the South China Morning Post reported
Editor: Ben Armour, Xiao Yi