Shannon.ai, an artificial intelligence financial start-up, has raised RMB110 million (US$15.8 million) in series A round of financing from Sequoia Capital China, according to Chinese media reports.
Founded in 2017, Beijing-based Shannon.ai is an artificial intelligence company focused on the financial sector. It develops platform that analyzes, extracts and integrates financial information.
The company’s primary product is a natural language-based question and answer system. The company uses AI technologies such as Natural Language Processing (NLP) and Computer Vision.
It also runs ShannonTalk, a series of interviews with top machine learning and NLP professors around the world.
The company’s algorithm team members come from Stanford University, MIT, CMU, Princeton, Peking University, Tsinghua University. Its founder and CEO Li Jiwei is a graduate from Stanford University, majoring in artificial intelligence.
Proceeds of this round will be used to expand its algorithm and product team, optimize AI algorithms, enrich product pipeline and promote commercial expansion.
Shannon.ai had previously raised tens of millions of RMBs as angel investment from Sequoia Capital China in January.