Music Tech Firm Xiaoyezi Bags C2-Round Funds Worth Tens of Millions of Yuan
Xiaoyezi Beijing Technology Co., Ltd. has completed a C2 round of financing worth tens of millions of yuan led by Zhencheng Capital, Chinese media outlet 36Kr reported on Friday. This is its second financing secured within seven months after a C+ financing round worth more than 200 million yuan ($29.84 million) in November last year.
The company, established in 2013, is a tech firm that applies artificial intelligence technology to the musical industry. It has built an AI music sci-tech ecology integrating software and hardware. Since October of last year, the company has achieved large-scale financial profits for eight consecutive months.
The firm has four business segments including Xiaoyezi Intelligent Training Partner, The ONE Intelligent Piano, The ONE Intelligent Piano Classroom and Xiaoyezi Training. These products serve all ages at all learning cycles, and can also cover online and offline customers, forming an obvious business synergy.
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Through continuous R&D and innovation, Xiaoyezi Intelligent Training Partner has achieved AI millisecond-level and high-precision error correction. In various complex environments, it can ensure high accuracy, for example, the accurate recognition of music scores with difficulty above ten levels.
At present, the service’s users come from 131 countries. According to the “White Paper on the Development Analysis of Online All-Round Education in Post-Pandemic Era” issued by the Chinese Academy of Sciences, the service ranks first in AI music education industry.