Chinese AI Unicorn 4Paradigm Hits USD1.2 Billion Valuation on New Funding
LU QIAN
/SOURCE : yicai
Chinese AI Unicorn 4Paradigm Hits USD1.2 Billion Valuation on New Funding

(Yicai Global) Dec. 19 -- 4Paradigm has closed a CNY1 billion (USD145 million) C-round of financing, bringing the Chinese data analysis firm's estimated valuation to USD1.2 billion.

Major commercial lenders Agricultural Bank of China and Bank of Communications participated in the round, the Beijing-based firm said in a statement without revealing the specific lead investor.

"4Paradigm has expanded its businesses from finance to medical treatment, government, energy, retail and media, and will continue to invest in technologies and platforms to facilitate expansion," the firm's founder and Chief Executive Dai Wenyuan told Yicai Global, adding that it would promote the wide use of artificial intelligence platforms in various sectors.

Founded in 2015, 4Paradigm focuses on data prediction and mining to help firms improve efficiency and lower risks with a focus on clients in the banking sector.

The latest round means that all of China's five largest commercial lenders have now invested in the company. Industrial and Commercial Bank of China, Bank of China and China Construction Bank invested previously.

Other major firms to participate in this round include China Poly Group, China Three Gorges Corporation and Citic Group.

Editor: William Clegg

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Keywords: AI , AI Algorithm