WenGe Group, a data intelligence service provider, announced the completion of Series E funding round worth more than CNY 500 million.
WenGe Group(Chinese:中科闻歌), a data intelligence service provider, announced the completion of Series E funding round worth more than CNY 500 million. This funding was participated by influential institutions, including China Development Manufacturing Transformation and Upgrading Fund, CCTV Integrated Media Industry Investment Fund, ZGC Science City Ltd, and so on. Existing shareholders including Infotech National Emerging Industry Venture Investment Guidance Fund, Ever State Capital, and CAS Capital also built on their original investment.
Positioned as a leading provider of data, algorithm and decision intelligence services, WenGe Group provides cross-modal intelligent big data and artificial intelligence infrastructure platforms and solutions for multiple fields. WenGe Group has fifteen years of technical accumulation in the direction of big data, artificial intelligence and operations research.
The money will be mainly used to invest in R&D in the field of decision intelligence to continue to build core competitiveness while increasing the construction of talent teams and promoting the development of essential businesses.
Qu Baoyu, CEO of WenGe Group, said that since the completion of its Series D financing round in May 2021, the company had increased its investment in intelligent decision-making technology and product development, achieving milestones in the productization process.
Intelligent decision-making transforms post-event analysis into pre-event anticipation and proactive execution, which can significantly improve enterprise productivity and efficiency. The market size of intelligent decision solutions in China was USD 890 million in 2021, up 66.4% from the previous year. The market for intelligent decision-making solutions in China is expected to grow at a CAGR of 54% over the next five years.
There are two main service models that WenGe Group provides to the market. On the government side, the company focuses on the customized solution model of "product+implementation" because of the demand for large projects and localized deployment. On the enterprise side, the company focuses on the standardized service model of "product+SaaS."
WenGe Group's international competitors include Prowler.io(UK) and Gro Intelligence(US), and domestic ones include Cardinal Operations (Chinese:杉树科技), Tongdun(Chinese:同盾科技), and 4Paradigm(Chinese:第四范式).