Shanghai Xbotspace Technology Co., Ltd. (“Xbotspace”) recently has announced the completion of hundred millions of CNY in Series A funding.
Xbotspace is the first generative artificial intelligence middleware company to explore the implementation and application of large language models (LLMs) in China. It is committed to reshaping human-machine interaction models and achieving intelligent driving and decision-making. The "intelligent assistant (agent) platform" is developed to support employees to put forward demands in natural language and schedule agents to complete tasks, which greatly improves flexibility and reduces costs. It is a subversive innovation of traditional working methods.
According to Xbotspace, the company has launched the "ask xbot" platform to connect people and systems. Front line employees can use the machine to assist in some daily work through dialogue. In addition, the platform can effectively process the data in the process of connecting and interacting between people and systems, mine and extract information or data of business value to enterprises, to achieve the purpose of optimizing enterprise business processes.
According to IDC, the market size of artificial intelligence software and applications in China was USD 5.1 billion in 2021, and is expected to reach USD 21.1 billion by 2026, ushering in explosive market growth. The attention and guidance of national policies, the entry of major enterprises, and the growth rate of data scale are the driving forces for the development of AI.
The market for development and application of LLMs is highly fierce. Chinese LLMs manufacturers include companies such as Baidu (百度), Tencent (腾讯), Alibaba (阿里巴巴), Sense Time (商汤科技), Huawei (华为), as well as research institutions such as BAAI (智源研究院) and CAS (中科院自动化所). At the same time, chip manufacturers such as Nvidia (英伟达) have also entered the market. In the United States, LLMs enterprises include OpenAI, Google, Microsoft etc.
IDG Capital stated: " The founding team of Xbotspace has rich experience and strong technical implementation and commercialization capabilities in the AI field. The emergence of AI large models has demonstrated a stronger level of intelligence, but there are still many practical problems that enterprises need to solve to effectively implement scenarios using large models. Xbotspace has taken the lead in filling the gap of automation platforms on large language models, helping enterprises achieve rapid implementation of AI capabilities, and jointly exploring high-value scenarios. We are optimistic about the leading position of Xbotspace in this field, and we also look forward to Xbotspace helping enterprises complete intelligent transformation and create greater value.”
This round of financing for Xbotspace will mainly be used for technology research and development, product innovation, technology application and implementation, as well as empowering enterprises to build expert agent capabilities. It was invested by IDG Capital (IDG资本), New Alliance Capital (联新资本) and Atom Capital.