COLDSKY.CN – Dr. Yuanqing Lin, former Head of Baidu Research and founder of AI solution provider Aibee, said 165 million yuan in angel fund investment […]

COLDSKY.CN – Dr. Yuanqing Lin, former Head of Baidu Research and founder of AI solution provider Aibee, said 165 million yuan in angel fund investment will be used to recruit researchers in Beijing and Silicon Valley and develop the research platform.

Aibee, whose name is derived from the abbreviation AI2B, aims to upgrade vertical industries through AI total solutions, according to its website. Focusing on that core value, Aibee develops solutions that can include computer vision, speech recognition, natural language understanding, big data analytics and more.

Two months after it was established in November 2017, Aibee raised funds mainly from Kinzon Capital(昆仲资本), while other investors included Zhen Fund(真格基金)、China Growth Capital(华创资本)、K2VC(险峰长青)、Lenovo Capital and Incubator Group(联想创投)、Sequoia Capital(红杉资本) and Yonghua Capital(涌铧投资).

Lin said Aibee aims to recruit the most talented people, provide the best products and focus on total AI solutions to create big value for business clients, with offline retail, education and finance as the major targeted areas in 2018.

Lin said it’s now working with a retail giant and expects the AI solution can generate 1 billion yuan a year in revenue.

The Aibee team also includes Dr. Silvio Savarese, an Associate Professor of Computer Science at Stanford University and Director of the SAIL-Toyota Center for AI Research at Stanford.

(COLDSKY.CN)

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