artificial intelligence
Sinovation-developed LLM platform hits $1b valuation
01.AI, a large language model (LLM) launched less than eight months ago by Chinese venture capital firm Sinovation Ventures, has achieved a USD 1bn-plus valuation, according to Kai-Fu Lee, the firm’s founder.
SparkLabs launches Korea deep tech fund
Early-stage VC investor and accelerator SparkLabs Korea has achieved a first close of USD 15m on a deep tech fund. That target corpus has not been confirmed.
Saudi fund invests $100m in China's Pony.ai
Saudi Arabia’s Neom Investment Fund, a strategic venture vehicle for the planned smart city of Neom, has made a USD 100m commitment to Chinese autonomous driving player Pony.ai.
US Congressional committee targets Sequoia's China exposure
Sequoia Capital has been targeted by a US Congressional committee seeking more details on its investments in semiconductors, quantum computing, and artificial intelligence (AI) in China over the past 13 years.
China's Baichuan AI raises $300m
China-based artificial intelligence (AI) start-up Baichuan AI has raised USD 300m in a first tranche of Series A funding from an investor group featuring Alibaba Group, Tencent Holdings, and Xiaomi.
State-linked investors back Series D for China's DataCanvas
DataCanvas, a China-based artificial intelligence-driven (AI) big data solutions provider, has raised CNY 300m (USD 41m) in a first tranche of Series D funding with strong support from investors with ties to national-level state-owned enterprises (SOEs).
China VC: Amicable divorces
Regulatory pressures are encouraging Chinese VC firms to end longstanding US affiliations, but the impact of impending legislation – even sight unseen – cuts deeper into investor sentiment on China
China's Enflame secures $273m Series D
Shanghai International Group (SIG) – acting through an assortment of investment units – has led a CNY 2bn (USD 273m) Series D round for Chinese artificial intelligence (AI) chip designer Enflame Technology.
India's Unitus combines with US affiliate Capria
India-based impact investor Unitus Ventures has combined with its US affiliate Capria Ventures, with the unified entity to operate globally under the Capria name.
Fund focus: Pi Ventures triples its deep tech firepower
While deploying its debut fund, India-based machine learning specialist Pi Ventures realised it was in fact a deep tech generalist. LPs have come along for the ride
Fund focus: 500 Global scales up in Southeast Asia
By investing early and building a diversified portfolio, 500 Global emerged from the technology valuation corrections somewhat unscathed. This gave the firm impetus when raising its third Southeast Asia fund
Generative AI in due diligence: Crunching new numbers
Private equity is rediscovering artificial intelligence as a due diligence tool in the wake of ChatGPT. Data security, legal, and technical risks have curbed uptake somewhat, less so for venture
Chinese chip developer Sitrus raises $28m
China-based chip developer Sitrus Technology has raised CNY 200m (USD 28m) in a Series C extension from Henglu Assets and Shanxi provincial government investor Photon Strong Chain Fund.
The innovation game: China GPs play safe
China investors have abandoned their previous high-risk-high-return approach in favour of proven business models and profitability. Hotspots like autonomous driving, biotech, and SaaS are no exception
China's DP Technology raises $97m
China’s DP Technology, touted as a pioneer in the use of artificial intelligence (AI) for scientific research, has raised a CNY 700m (USD 97m) round featuring Loyal Valley Capital.
CLP leads $21m Series B for China's Venturous Group
Venturous Group, a Chinese smart city platform, has raised USD 21m in Series B funding led by Hong Kong utility CLP Group. It follows a USD 131m Series A in June 2021.
Singapore commits $111.5m to fintech ecosystem
The Monetary Authority of Singapore (MAS) has committed to invest up to SGD 150m (USD 111.5m) over three years in the local VC and financial technology start-up ecosystem.
Biden clamps down on US investment in Chinese technology
US President Joe Biden has signed an executive order prohibiting outbound foreign investment in China that targets certain sensitive technologies, including semiconductors and microelectronics, quantum information technologies, and artificial intelligence...
India's Pi Ventures closes second fund with $85m
India’s Pi Ventures, an artificial intelligence (AI) and deep tech specialist, has closed its second fund with INR 7bn (USD 85m) in commitments.
Australian mining tech start-up Plotlogic raises $28m
Australian mining technology start-up Plotlogic has raised a USD 28m Series B round led by US impact investor Galvanize Climate Solutions and Schneider Electric’s SE Ventures.
India's Together seeks $150m for second VC fund
India’s Together Fund, an early-stage VC firm focused on artificial intelligence (AI) and software-as-a-service (SaaS), has reached a first close of undisclosed size on its second fund. The target is $150m.
Japan's 01Booster Capital closes debut fund
01Booster Capital, a Japanese accelerator and VC investor set up in 2012, has closed its debut fund at an undeclared size. It was launched in late 2021.
Hong Kong's OneDegree upsizes Series B to $55m
Hong Kong insurance start-up OneDegree has raised USD 27m from a group including Gobi Partners. It is billed as an extension to a Series B round from 2021, bringing the overall total to USD 55m.
Meituan to buy Chinese AGI player Light Year
Listed Chinese consumer technology platform Meituan has agreed to acquire 100% of Light Year, a VC-backed local artificial general intelligence (AGI) business, for USD 284.3m.