- General
- July 19, 2018
- 3 minutes read
Machine Learning startup Unisound gets $90 million in latest funding round
Image credit: Unisound Chinese AI and Machine Learning startup Unisound has just closed 600 million Yuan ($90 million) in funding…
Image credit: Unisound
Chinese AI and Machine Learning startup Unisound has just closed 600 million Yuan ($90 million) in funding as part of its Series C round from several investors which include internet security company Qihoo 360, Qiming Venture Partners, Hanfor Holdings and the China Ministry of Finance with this investment round now bringing the total raised by the 6 year old AI startup to $300 million.
This investment notably came with a valuation of around $1 Billion for the company according to Caixin Global marking the latest entrant into the unicorn space.
With AI growing rapidly around the globe, Unisound is part of the huge swath of companies looking to provide various machine learning and AI hardware and software solutions for application across vast industries such with the healthcare, automobile, manufacturing and other industrial sectors being a major part of the rapid growth.
Unisound has continued to see high revenue growth over the years with the company now targeting revenue of $74 million for next year amidst profitability driven by the release of its AI chip and provision of IoT software.
Unisound focuses on speech recognition system and provides its services for use in home appliances, health centers, cars and schools and has already made partnerships with the likes of Intel, Qualcomm, Xiaomi, Canbot, Meituan Dianping, Canbot and several other major technology companies which stands as a very good record for its operations.
With this investment, Unisound now joins the likes of AI startups Yitu, Cambricon and SenseTime
all noted for having raised huge funding for its AI services while commanding high valuations.
