(Yicai Global) Jan. 29 -- Three of China's biggest state-owned banks have invested in an artificial intelligence startup in a further sign that the country is pushing ahead with backing for companies in the field.

Industrial and Commercial Bank of China (ICBC), Bank of China and China Construction Bank participated in the company's Series B+ funding, Beijing-based 4Paradigm Co. said in a statement. It did not disclose any financial details.

4Paradigm specializes in machine learning and other AI applications. Founder Dai Wenyuan is an expert in the area who worked for such tech giants as Baidu Inc. and Huawei Technologies Co. 4Paradigm works with financial firms to detect fraud and market to customers more effectively based on online habits.

"AI technology can help banks further understand the needs of customers, which will become a new driving force for them to improve product quality and offer a better experience," said Wang Lixin, director and general manager of BOC International Holdings Ltd., an investor in the latest fundraising round.

4Paradigm said it aims to promote use of its products and solutions across China while expanding its customer base to provide more AI technology support to Chinese firms including lenders, insurers and securities companies.