AInnovation Completes Series D Financing, Further Focusing on Smart Manufacturing

BEIJING, June 10, 2021 /PRNewswire/ -- Recently, AInnovation announced that it has completed Series D financing led by SoftBank Vision Fund 2^*. After this round, AInnovation will continue to focus on empowering the manufacturing industry with artificial intelligence and become a leading provider of industry intelligence transformation solutions.

Dr. Eric Chen, Managing Partner at SoftBank Investment Advisers: "The smart manufacturing area focused by AInnovation has considerable value-added potential for its customers. We are pleased to support AInnovation in applying its technology to help enterprises and continuing its innovation."

Hocking Xu, Co-Founder & CEO at AInnovation: "China has a comprehensive range of manufacturing industries and a large industrial scale, and many fields are worth exploring and upgrading with AI technology. AInnovation focuses on iron and steel metallurgy, engineering and construction, OLED panel, automotive equipment, energy and power, high-tech/3C and other subsectors. We have launched a variety of industry leading and AI products and solutions for specific industries, and have won recognition from many industry benchmark customers."

Based on its computer vision and machine learning technologies, AInnovation has developed three proprietary platforms including ManuVision Intelligent Machine Vision Platform, MatrixVision Intelligent Edge Video Platform, and Orion Distributed Machine Learning Platform, to accumulate algorithm assets and provide rapidly deployable products and solutions. Because of its innovations in applying AI in manufacturing industry, AInnovation has been listed by Gartner as global machine vision "Example vendor" and "Cool Vendor" in AI for Computer Vision.

* As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 ("SVF 2") in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.

About AInnovation

AInnovation was established in March 2018. With the mission of AI empowering business value, it is committed to providing AI-enabled products and business solutions with cutting-edge AI technology to help traditional industries reduce costs, improve efficiency and business value, and realize intelligent transformation.

SOURCE AInnovation