Lunzi Tech, a personal digital assistant service provider, announced the completion of Series A2 financing round worth CNY 26 million.
Lunzi Tech(Chinese:轮子科技), a personal digital assistant service provider, announced the completion of Series A2 financing round worth CNY 26 million, with participation by SIDVC, QF Capital, and Changshu Southeast Industrial Investment Co. LTD.
Lunzi Tech, an Natural Language Processing(NLP) technology company, is engaged in the research and development of Semantic Parsing NLP. Unlike most NLP technologies on the market that provide speech, semantic recognition and interaction functions, semantic parsing NLP can achieve higher accuracy in higher-order applications.
The money will be used for NLP algorithm innovation, market expansion, and technical team expansion.
Yu Ke, founder and CEO of Lunzi Tech, said that in the recent year, Wanmi (the personal digital life assistant product of Suzhou Lunzi Tech) has been from the sixth generation of NLP framework iteration to the seventh generation of the framework. For ordering takeout and other areas of high-order semantic understanding difficulty, the semantic understanding rate was from 45% to about 80%.
As the pace of life is getting faster and faster, the personal digital life assistant market is entering a phase of rapid growth. According to a report by Tractica, a professional market research and consulting agency in artificial intelligence, virtual digital assistants are gaining attention from consumers worldwide. Personal digital life assistants are expected to be used by more than 1 billion unique active users each year and will generate USD 7.7 billion in annual revenue.
Wanmi's service will cover takeout, taxi booking, restaurant recommendation, offline entertainment, hotel booking and other areas, covering more than 95 percent of prefecture-level cities in China. Through intelligent terminal and voice interaction, Wanmi can identify multiple needs of users and give precise recommendations.
Lunzi Tech's international competitors include Porsche(Germany) and Microsoft(US), and domestic ones include Pactera (Chinese:中电文思海辉), Baidu(Chinese:百度), and Data Compass(603396.SH, Chinese:睿晓信息科技)