Chinese AI technology and service provider 4Paradigm said on Thursday that it raised a total of $230 million in its latest Series C and C+ funding rounds, introducing new strategic investors such as Cisco, Lenovo and China CITIC Bank.
The post-money valuation of 4Paradigm now approaches $2 billion. The new capital will be used to improve its Al-based enterprise-level service ecosystem, more research and development (R&D) investment and market expansions.
Since its founding in 2014, 4Paradigm has successfully developed and deployed cutting-edge AI solutions such as “4Paradigm Sage EE”, a whole-process AI platform with capabilities such as data processing, application building and model research, and “4Paradigm Sage HyperCycle ML”, a decision-making tool which can be used in sales forecasting, intelligent banking and anti-money laundering.
The company expanded its business to Europe and Southeast Asia in 2019, according to its website.