Telecommunications technology provider China Electronics Corporation Data has led a $100m round for China-based artificial intelligence technology provider Unisound, China Money Network has reported, citing Unisound’s WeChat account.
CEC Data, which led the round through its China Electronics Health Fund, was joined by cybersecurity software producer Qihoo 360 as well as Hanfor Capital Management, a subsidiary of industrial park operator Hanfor Holdings, and Qianhai Wutong Mergers and Acquisition Funds.
Unisound develops and produces equipment covering technologies such as voice recognition, language processing and big data systems, and is releasing an internet-of-things chip for use in connected devices this month.
The company had received approximately $18m from unnamed investors across two rounds before closing a $50m series B round in 2014 that was also funded by undisclosed backers.
Unisound raised a nine-figure renminbi amount (RMB100m = $15m at contemporary rates) from unnamed backers in 2015 at a $1bn valuation, it told China Money Network, and added $45m from an undisclosed strategic investor in August 2017.
The funding will support the growth of Unisound’s business as well as further research and development. An unnamed spokesperson from China Electronics Health Fund said: “Unisound has leading AI and chip technologies that have been tested by a large number of customers.
“Its smart medical solutions also matches China Electronics Health Fund’s investment strategy. We will work on voice recognition in the medical industry and co-develop new products and property rights to target AI chips for the healthcare industry.”