China-based enterprise artificial intelligence technology developer Deepexi secured $35m in series A funding yesterday from investors including Bertelsmann Asia Investments, a corporate venturing vehicle for media group Bertelsmann, China Money Network reported.
Morningside Venture Capital, Hillhouse Capital Group and IDG Capital co-led the round, which also featured Chuxin Capital and Lighthouse Capital, the latter of which was also financial adviser for the transaction.
Founded in 2018, Deepexi has built an AI-equipped software platform that helps enterprise customers manage their applications and organise their businesses. It is also working on an internet-of-things offering for smart manufacturing companies.
The series A cash will go to product development and the strengthening of Deepexi’s core platform, in addition to research and development and talent acquisition.
IDG Capital led the company’s angel round in November 2018 before joining Gaocheng Capital in a March 2019 round that was also of an undisclosed size, according to 36Kr.
