Kinzon Capital, the venture capital firm formed by conglomerate Fosun, has led a RMB165m ($25.7m) angel round for China-based artificial intelligence technology developer Aibee, China Money Network has reported.
Aibee was founded in November 2017 by Lin Yunqing, who had previously led internet group Baidu’s Institution of Deep Learning. It is working on areas such as big data analytics, computer vision, speech and natural language recognition.
The funding comes in the same week as Pony.ai, an autonomous driving software developer founded by two more ex-Baidu employees, closed a $112m series A round featuring corporate venturing unit Comcast Ventures.