Shanghai-based artificial intelligence startup Data Grand has closed its RMB 270 (USD 38 million) Series B+ round, led by Shenzhen Capital Group Co. Ltd, according to a post on the company’s website on Thursday.
SAIF Partners, CBC, Mount Morning Capital, Z Capital all participated in this round. New funds will be used on R&D and market expansion.
Data Grand, which was founded in 2015, develops technologies including natural language processing, optical character recognition, and robotic process automation which can partially replace humans in document reading, data comparison and analysis, and data filling, among other tasks, according to the company’s website.
China Merchants Bank, insurance company Ping An, Huawei, and China Mobile are all among its hundreds of clients, according to a 36Kr report.
36Kr is KrASIA’s parent company
This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.