Russian entrepreneur and venture capitalist Yuri Milner, founder of investment firm Digital Sky Technologies Ltd (DST Global), has made a new investment in a tech company Horizon Robotics, a China-based startup focused on artificial intelligence (AI).
The size of the investment venture was not disclosed. Horizon Robotics will use the latest proceeds on research and development, including team expansion, reported the China Money Network.
The startup was established in July 2015 by Dr. Kai YU, the founder and former head of Institute of Deep Learning (IDL) at Baidu.
Headquartered in Beijing with a subsidiary in Shenzhen, Horizon Robotics claims to run a full-functional team integrating software and hardware capabilities. The company envisions every device to become an intelligent entity that has the ability from perception, interaction, and understanding to decision-making.
The startup’s goal is to create full range of AI solutions by connecting processors, hardware, software, cloud computing and big data. The technology may be applied to home appliances, furniture, automobile and toys.
Yuri has been investing in internet companies since 1999, and has founded Mail.Ru Group in 2005 which develops internet communications and entertainment services in Russia and globally, as shown in his profile on CrunchBase.
He later founded DST Global in 2009 to serve as primary vehicle for international internet investments, like in social network Facebook, social gaming firm Zynga, and social e-commerce company Groupon.
A growth focused investment company, DST Global specializes in late-stage, high-growth, private companies in the global internet industry. The company has pioneered a model to provide liquidity to founders, employees and early investors through mixed primary and secondary transactions. These transactions are often referred to as DST type deals in the internet world.