Terminus is a unicorn combining Artificial Intelligence (AI) and the Internet of Things (IoT) technology in order to provide governments and enterprises with one-stop solutions that cover multiple scenarios in urban management, building energy management, public security management, and so on.
Terminus has just completed a CNY 1.2 billion ($173 million) Series B1 funding in October 2018 led by IDG and China Everbright with the participation SenseTime (商汤科技). It now enters 70 cities and has total projects of 8,335.
Terminus told EqualOcean that this year, it will recognize around CNY 3 billion (USD 449 million), most of which are government projects, such as digitalizing neighborhood; and total order amount could possibly reach CNY 10 billion (USD 1.4 billion).
Terminus has two main business directions which are to B (enterprise) and to G (government).
Both of which require extensive networks and industrial resources.
Seeking investors having enough money, network and resources will help.
Looking at Terminus’s backers
IDG and China Everbright started backing Terminus from Series A. China Everbright is a large state-backed company, which might enhance government relationships and bring its advantages when it tries to apply for government projects. For the other backer – IDG, is a leading investment firm that might bring Terminus more financial, technological, and industrial resources.
Terminus told EqualOcean that most of its orders are collaborating with governments. It has landed around 10 projects in Chongqing, Shanghai, and Beijing. In Chongqing and Shanghai, it digitalized old neighbors with purposes to enhance securities and look after senior residents.
Terminus has collaborated with top 30 property developers such as Wanda (万达), Greenland, Capital Land, China Fortune Land Development (华夏幸福), and Sunshine 100 (阳光100).
Another backer is SenseTime, another unicorn and the most valuable company (USD 8 billion) in the AI field, invested by China Everbright and claimed itself turning profitable in 2017 with yearly revenue increased by 420%. SenseTime’s present and vice president revealed that in terms of selecting investors, money that investors could bring is one thing; moreover, they will assess their networks and possible synergies then determine if investments should be accepted.
Between SenseTime and Terminus
SenseTime will provide technical support including a fundamental algorithm and Terminus will apply those technologies to its existing and upcoming projects.