DataGrand, a Chinese AI startup that offers Natural Language Processing and RPA service to major enterprises in the nation, closed its CNY 270m (USD 38m) B+ funding round.
The round was led by Shenzhen Capital Group, with participation from existing investors SAIF Partners, Z Capital and Mount Morning Capital managed by CBC Capital.
The company intends to use the funds to scale up its business.
Founded in 2015 and led by Dr. Chen Yunwen, CEO, DataGrand is committed to the development and application of Natural Language Processing (NLP), Optical Character Recognition (OCR), Knowledge Graph and other AI technologies. It provides customers with multiple text automation solutions, such as documentation review, intelligent recommendation, intelligent search, knowledge mapping, etc. The solution, which does not use Microsoft underlying development frameworks, is deployed and used in dozens of vertical industries, and more than 100 enterprises. DataGrand has established strategic partnership with Microsoft, Sogou, and China Ping An Group. Customers include China UnionPay, Shenzhen Stock Exchange, HSBC, Deloitte, China Mobile, Huawei, Haier, Decathlon etc.