Yuri Milner finances China’s AI-focused startup Horizon Robotics

Yuri Milner (Image from Reuters)

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.

Horizon Robotics previously received seed funding from Hillhouse Capital, Morningside Ventures, GSR Ventures, Sequoia Capital, among others.

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.

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Singapore Reporter/s

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

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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.