Tag Archives: Startup

Zhuiyi Tech raises $41m for chatbots

Shenzhen-based artificial intelligence-enabled start-up Zhuiyi Technology has raised $41 million in a Series C round led by China Merchants Group, according to DealStreetAsia.

Zhuiyi Technology develops AI-based chatbots for online customer service. Known as YiBot, the software uses deep learning and natural language processing based on large amounts of data in order to provide personalized service to customers online.

The funds raised will be used to expand the company’s overseas operations.

 

Social app Baymate gets 1m downloads

Love is in the air throughout the Greater Bay Area. Literally.

Wanqu (Baymate), a social app launched last year by Darelove Technology, which has offices in Hong Kong and Shenzhen, has already been downloaded more than one million times on Tencent’s Yingyong Bao Android app store, reports Technode.

Baymate is reminiscent of both shopping review platform Xiaohongshu and lifestyle app Dianping. After registering, users can jump right into a dating pool spread out across the Greater Bay Area, according to Technode.

The company behind the app, Darelove Technology, was founded in December 2017. An English-language, international version of Baymate that also makes use of location-based services will launch in 2020.

Zhuhai startup gets Intel Capital funding

Intel Capital has announced new investments totalling US$117 million in 14 technology startups, including Zhuhai EEasy Technology Co, according to an official release and reported by DealStreetAsia.

EEasy Technology Co. Ltd is an AI system-on-chip (SoC) design house and total solution provider. Its offerings include AI acceleration; image and graphic processing; video encoding and decoding; and mixed-signal ULSI design capabilities.

Each year, Intel Capital puts US$300 million to US$500 million into innovative companies across a wide range of emerging technologies.

Another Chinese company, Shanghai-based Cloudpick Limited, a smart retail technology provider, also won this year’s Intel funding. The 12 remaining startups are mostly from the US, with one from Israel, and represent communications, healthcare and manufacturing sectors.

Drone maker EHang considers private funding

Guangzhou-based drone maker EHang has delayed plans for a US IPO and is instead looking to raise up to US$200 million in a private fundraising, says DealStreetAsia, citing a Reuters report.

The five-year-old aerial landscaping specialist has decided to put off its IPO plan as it drew lukewarm investor interest, according to Reuters.,

EHang first made headlines in 2016 when it unveiled a passenger drone concept which it said would retail at up to $300,000. Early last year it said it had completed tests for the vehicle which is capable of carrying one person at speeds of up to 130 kph. In May EHang broke the Guinness World Record for most drones flown simultaneously in a 13-minute flight that involved 1,374 drones spread over a kilometer. In the consumer drone sector, EHang is however still dwarfed by fellow Shenzhen-based and the world’s largest non-military drone maker DJI Technology. DJI is said to be planning to list in either Hong Kong or mainland China.