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CHINA BRIEF | Alibaba-backed voice interaction company AISpeech closes USD 58 million Series E round

The firm counts Xiaomi, SF, and Alibaba among its over 8000 clients.

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Voice interaction solutions provider AISpeech has closed a RMB 410 million (USD 58 million) Series E round led by CTC Capital, 36Kr reported on Tuesday.

BAIC Capital, the investment arm of Chinese automaker BAIC and Goldstone Investment, the PE fund management subsidiary of Citic Securities, also joined this round. The company, which counts Alibaba, Foxconn, and MediaTek among its investors, has set a timetable for its initial public offering, without offering further details.

AISpeech was co-founded by University of Cambridge graduate Gao Shixing in the United Kindom in 2007 but relocated to Suzhou, Jiangsu in 2018. The company features a human-machine interaction platform called the dialogue user interface (DUI) and a chip named TH1520 it co-launched with Semiconductor Manufacturing International Corporation, the largest semiconductor foundry in China.

It has provided its AI technologies to a wide variety of nearly 8,000 clients including smartphone maker Xiaomi, logistics company SF and Alibaba.

New funds will be used to expand in smart home, automotive, smart wearables, finance, and government-facing services.

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.