Chinese Phone Maker Raises USD150 Million to Develop Revolutionary AI System
Zhang Xia
/SOURCE : Yicai
Chinese Phone Maker Raises USD150 Million to Develop Revolutionary AI System

(Yicai Global) Aug. 9 -- Chinese mobile internet device maker Smartisan Beijing Co. has secured CNY1 billion (USD147 million) in funding to develop a new revolutionary artificial intelligence system, Luo Yonghao, chief executive, said on Aug. 7.

The new system will reportedly employ AI technology to make the existing mouse and keyboard model more efficient, with more details to be released over the next two months.

"Smartisan has gained a deeper understanding of AI through its research and development over the past year. Many product managers have a misunderstanding that when AI becomes smart enough, human-machine interaction will no longer be needed," he added. "This is totally wrong. Machines are not smart enough now. We have to make them smarter through the intelligent application of human-machine interaction."

Smartisan has raised CNY279 million (USD41 million) in funding since 2012. The firm was previously valued at CNY2.65 billion (USD390 million), based on the outcome of a fundraising phase in June 2015.

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Keywords: Smartisan , Innovation , FINANCING , AI