DMAI, a China-based developer of cognitive artificial intelligence (AI) technology, has received RMB500m ($77.5m) in a series A round featuring consumer electronics producer Lenovo, DealStreetAsia reported yesterday.
The round was co-led by private equity firm Sailing Capital Management and venture capital firm GF Venture Capital and also featured state-owned urban infrastructure provider Guangzhou City Construction Investment Group’s S Fund, Jiangmen Ventures and Flower City Ventures.
Founded in 2017, DMAI is working on cognitive AI technology that will be used as the basis for intelligent chatbots and personalised learning and medical assistance platforms for use in the education and healthcare sectors. The capital will be spent on research and development activities.
Songchun Zhu, founder of DMAI, said in a statement quoted by DealStreetAsia: “Cognitive AI in terms of man-machine interaction and personalised service will benefit the transformation of education and other vertical fields.”
The company had previously raised an eight-figure dollar amount in a March 2019 pre-series A round led by Sailing Capital and backed by Jiangmen Ventures in addition to IDG Capital, CDH Investments and ECC Capital.
