China: AI startup CloudMinds closes $100m Series A

Image from CloudMinds.

CloudMinds Inc, a Chinese startup engaged in cloud-based Artificial Intelligence (AI), has raised $100 million in a Series A round that saw participation  from undisclosed investors, the China Money Network reported.

The announcement of the latest round over the weekend, follows the completion of an earlier $31 million in angel and seed financing from SoftBank Group International, Hon Hai Precision Industry Co Ltd, Walden International, and Keytone Ventures in May 2016.

CloudMinds aims to build cloud-based “AI brains” not limited on humanoid robots.

Compared to an average human brain that weighs less than 1.5 kilograms, over thousand tons of silicon alone is needed for an artificial brain, based on present computing capacity, the startup said.

Founded in 2015 by Huang Xiaoqing, the former head of research at China Mobile, CloudMinds has announced a cloud intelligence ecosystem, a combination of the cloud, networks and terminals, applications including a guide helmet to help the blind navigate the streets.

Its existing cloud central control system has been used by some enterprises in China, including insurance companies and property firms, as well as governments, the company claimed.

The tech startup is also building a cloud central control system that will connect actual humanoids with a central “nerve system” on the cloud.

CloudMinds is likewise finding ways to apply artificial intelligence in financial services, healthcare, government and manufacturing.

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Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.