AI startup AInnovation secured Undisclosed amount in Series C

AInnovation, a China-based Artificial Intelligence company has now secured an undisclosed amount in the Series C funding round.

AInnovation is founded by Hocking Xu in the year 2018. It is an Artificial Intelligence company with a mission of “AI Empowering Business”. It delivers the products and customized business solutions using AI technology, empowering traditional industries to reduce costs, realize digital transformation, and improve their business efficiency and value.

Hocking Xu, CEO of AInnovation, said, "AInnovation is a banner for commercialization of AI. Since our establishment over two years ago, with a clear strategy of empowerment, infusion and fusion, we've realized rapid transformation from technology to commercial value. We've established in many cities across the country and improved our talent structure and capacity from five aspects, helping us provide full-stack AI solutions with absolutely efficient execution: technology, products, industry application scenarios, delivery and operation, and commercialization. In the future, we will deeply root ourselves in the industry, from business empowerment to value co-creation, to realize mutual benefit for us, our customers, the industry, and our investors. We welcome technology and commercialization talent to join us to jointly fulfill the mission of our era to use AI to power business."

Joseph Liang, Managing Director of CICC and Chairman of CICC ALPHA, said, "There is huge potential in traditional industries, which requires activation and catalysis by emerging technologies such as AI to enter a new round of growth. This will create considerable wealth for the world economy. AInnovation is committed to promoting long-term intelligent transformation and upgrade of traditional industries with AI. This conforms to the national science and technology innovation strategy, as well as industry evolution trends, and we are very optimistic about their development prospects."

The round was backed by the CICC ALPHA, with participation from the Huaxing Growth Capital, Riverhead Capital, and Guohe Capital.

The company as of now has plans to use the new to further enhance its position in AI by powering manufacturing, public services, retail, finance, and some other fields which accelerate the pace of AI commercialization.