Chinese CloudWalk Records A Milestone Fundraising Success
An Artificial Intelligence Unicorn known as CloudWalk located in China has recorded a great milestone in its recently concluded financial offer. The AI technology company finalized a public financing spree which raked in successes to the tone of RMB1.8 billion ( ie $253.6). The CloudWalk Technology is one of the ‘Four AI Dragons of China’ of which ‘Megvii’, ‘Yitu’ and ‘SenseTime’ constitute the remaining three.
This bout of public financing attracted a lot of very strategic and important investors. Some of them include: Guangzhou Nansha Financial Holding, Yangtze River Delta Industrial Innovation Fund, Shanghai State-owned Enterprise Reform and Development Equity Investment Fund, and China Internet Investment Fund. Others include: Haier Capital, ICBC and other Big Time investors.
The company experienced this great level of goodwill and consortium as a result of being regarded as one of the ‘AI National Team’.
The last time CloudWalk had a public financing was in August 2018. Then it had come up with a B+ financing plan which was successfully completed. This particular public offering was graced by a lot of new important investors and amounted to over RMB 1 billion.
Some of the B+ financing big players included Atlas Capital Group, SFund International Holdings Limited, China Reform Fund, Technology Financial Group, and Bohai Industrial Investment Fund. Another notable source of funding includes local government funds.
CloudWalk was established in 2015. Since then, the tech guru has successfully organized five public fundraisings. These have cumulatively amounted to monies in excess of RMB $5.3 billion (US$746.8million).
If closely observed, it would be seen that right from the B+ funding of the company, its investors have been predominantly dominated by national industrial gurus as well as phones from local governments. This trend is closely linked to its founding members.
CloudWalk is a Chinese AI Technology company that was founded in 2015 by Xi Zhou. Mr. Zhou used to be a professor at the Chongqing Institute of Green and Intelligent Technology, Chinese Academy of Sciences.
It is also worthy of note that the company at the beginning of this year 2020 successfully completed the shareholding system.