Chinese AI startup Tianrang raises a $26M funding round, launches new project to apply ML to cities
Chinese AI startup Tianrang has raised a $ 26 million (RMB180 million) funding round from China’s Gaorong Capital and co-lead CMB International Capital. Other investors included Ziniu Fund and Chinese fintech company Wacai. In 2016, the company raised an angel round led by Gaorong Capital and participated in by Shanghai Jindi Investment Management Ltd.
Based on deep learning and other AI technology, Tianrang provides data analysis and smart solutions for enterprises. It was founded by in 2016 by Xu Guirong, former director of Alibaba’s Ali Cloud and chief scientist at Alibaba’s cloud platform Alimama. So no slouch on the AI front.
Tianrang claims to be able to automatically collect and analyze marketing trends and purchase-related information on Alibaba’s e-commerce platform, allowing vendors to make better marketing decisions.
Wang Hongbo, chief investment officer at CMB International Capital says: “With algorithm and AI, Tianrang lowers the requirement of complex machine decision-making and makes it accessible and scalable for commercial use.”
Tianrang also plans to set up a project to apply machine learning to the urban development of cities, led by Jessie Li, a professor at the College of Information Sciences and Technology of Pennsylvania State University.