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China's Chatbot Provider Emotibot Secures USD 30 Million In Series B Round
COVID-19 and China

Emotibot(竹间智能), a Chinese caring robot solutions provider, has secured USD 30 million in series B round funding, led by China Development Financial(中华开发金控), followed by Cathay Financial Holdings(国泰金控). Its existing investors Ecovacs (科沃斯)and Advantech Capital (尚珹投资)participated in this new funding round. Light House Capital (光源资本)served as exclusive financial advisor in the transaction.

Founded in 2015, Emotibot is an artificial intelligence company engaged in deploying deep learning, Chinese semantic understanding, emotional calculation and computer science to provide emotional robot solutions. The robot can read, see, listen, remember, self-learn, and understand the user's emotion, the affective states, emotions and intentions of the speaker.

According to the lead investor China Development Financial, artificial intelligence is a potential and promising industry, semantic understanding is not only the connection between human and smart life but also a key to the industry internet revolution.

The artificial intelligence robots market is expected to grow from USD 3.49 Billion in 2018 to USD 12.36 Billion by 2023, at a CAGR of 28.78% between 2018 and 2023. Service robots are expected to hold a large part of AI robots market share in 2018, and the needs for companionship and entertainment are driving the growth of the service robots market, according to Markets And Markets.

Emotibot gives AI emotions, not to embellish life, but with the hope that bots can help people to have a better life, work environment, and to solve business problems of high importance. Emotibot provides user-centered business solutions with bots throughout the e-commerce cycle including the pre-sale, sale, after-sale stages. Emotibot's financial solutions can automatically identify the potential needs of high-value customers, providing a comprehensive financial intelligence solution from front-end interaction to financial advisory and after-sales service.

Emotibot supports a full set of language, image, voice human-computer interactions. Combined with customized development based on the devices and scenarios, it enables intelligent devices to have a smart AI brain. Through NLU(Natural Language Understanding) and emotion recognition, Emotibot allows the robots to accurately understand the intent of user inquiries, thereby reducing operational cost and improving efficiency.

Kenny Chien (JIAN Renxian, 简仁贤), the founder and chief executive officer of Emotibot, said that with scaling designed service based on the company's platform, Emotibot craves into the niche and replicate the model easily. The company tries to convince the world that the business model embedded with Natural Language Processing(NLP)and emotion calculation could gain profit. The AI company will keep on landing their technology on more scenarios and make AI happened in true life.

--Author: LinYan. Write to LinYan at LinYan@EqualOcean.com

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