AI Company Supermind Harvests CNY 400 Million in Series C Funding Round

Technology Author: Yanbing Gao Aug 09, 2022 05:43 PM (GMT+8)

Supermind, an AI middle platform company, bags CNY 400 million(USD 59.2 million) in a Series C funding round, led by Zhangjiang Hi-Tech, Zhangjiang Group, LTW Capital and CCTV Media Industry Investment Fund.

smart city

Supermind(Chinese:闪马智能), an AI middle platform company, announced the closing of a Series C financing round worth CNY 400 million(USD 59.2 million), led by Zhangjiang Hi-Tech, Zhangjiang Group, LTW Capital and CCTV Media Industry Investment Fund. Existing shareholders Guochuang Zhongding and Linear Capital continued to invest more.

The funds from this round will be mainly used for the continuous research and development of new products, the productization of the core system and the creation of the product operating system. Besides, the scientific research investment in core technologies such as ATOM deep learning platform and intelligent AI computing Spatio-temporal database will be also increased, news portal reported.

In the field of artificial intelligence, the difficulty to apply these technologies to commercial production and operation is an industry consensus. Dajun He, vice chairman and general manager of Zhangjiang Hi-Tech, mentioned that only AI empowers physical industries can it be developed sustainably". The trend of urban digitalization has put higher requirements for traffic management and services, which is a hot direction of AI applications.

Supermind, founded in 2019, has focused on video intelligent analysis and Spatio-temporal data management. Based on a self-developed ATOM deep learning platform and VisionMind video intelligence analysis platform, it has launched city-level AI scenario solutions for urban space intelligent management. Up to now, these solutions have been applied in more than 200 cities and counties across China.

As for intelligent transportation, Supermind also launched smart high-speed operations management, toll audit, motor vehicle governance and non-motorized vehicle governance and other systems and platforms. Its international competitors include Currux Vision and Waymo and domestic ones include Lifan Technology (Chinese:力帆科技), Infinova (Chinese:英飞拓) and Sun Create Electronics(Chinese:四创电子).