(Yicai Global) Aug. 2 -- Chinese artificial intelligence unicorn Beijing Wusi Chuangxiang Technology, valued at USD2 billion last year, is getting ready for an initial public offering in Hong Kong.

The firm, which trades as 4Paradigm, submitted its overseas listing application to the China Securities Regulatory Commission on July 29. Once approved, it is likely to file to list in Hong Kong, the Securities Times reported. No details were given about the size of the IPO.

4Paradigm was valued at USD2 billion after its C-round fundraising in April last year. Since it was founded in 2014, the Beijing-based company has secured 11 rounds of financing. Investors include China’s Big Five state-owned banks as well as venture capital firms Sequoia China and Sinovation Ventures.

Founder and Chief Executive Dai Wenyuan, who used to work at tech giants Baidu and Huawei Technologies, holds a 26 percent stake in the firm, according to corporate data platform Tianyancha.

4Paradigm is an emerging global leader in enterprise-grade AI, including both platforms and applications. 4Paradigm AI is now deployed at clients in virtually every major sector in China, including finance, retail, manufacturing, energy, healthcare, internet, healthcare, logistics and agriculture.

Editor: Kim Taylor