Yunli Zhihui Technology, a firm engaged in products related to the construction of smart cities in China, recently completed a round of financing worth several hundred million yuan, led by CDH Investments’ fund and followed by Volcanics Venture. The fresh funds will be used to strengthen the company’s research and development.
Founded in 2018, Yunli Zhihui receives joint funding from China Unicom and Alibaba Group. The company takes big data, artificial intelligence and fast application development as core technologies to cover fields such as urban governance, environmental protection and others.
With the gradual maturity of emerging technologies such as 5G, AI, cloud computing, big data and Internet of Things, the digital process of smart cities continues to accelerate. At present, more than 500 cities in China have begun to pilot digital consumption and introduce more intelligent devices to improve urban quality of life.
Using information technology to improve urban governance capacity and public services has become the primary goal in smart city construction.
IDC’s latest forecast shows that the three hot investment projects in the Chinese market are sustainable infrastructure, data-driven governance and digital management. Qianzhan Research Institute also predicted that the market size of smart cities in China will reach 25 trillion yuan in 2022, and the compound growth rate will remain above 20% within five years.
The new smart city base product created by Yunli Zhihui consists of an intelligent operations center, city information modeling, data platform, application platform and an intelligent platform. The product also has five capabilities including big data perception, big data storage and computing, AI identification and analysis, application and business suite.