China Gets Low Marks On Autonomous Vehicle Preparedness Ranking

China will need to upgrade its regulatory framework and infrastructure before it becomes a leader in the autonomous vehicles space, according to a study by KPMG. In the report, China came 16th on a list of 20 nations in terms of readiness for autonomous vehicles, just below Spain, but ahead of Brazil, Russia and India.

Baidu Venture Capital Raises US$317M For Artificial Intelligence Focused Fund

Baidu Venture Capital (BV), the early-stage investment unit of Baidu Inc. focused on artificial intelligence investments, has completed the first closing of its second RMB fund, having raised nearly RMB2 billion (US$317 million), according to a WeChat post by the firm. Together with BV’s first RMB fund and a US dollar fund, the firm has total assets under management of around RMB3 billion (US$476 million), the company said. External investors joined the fund for the first time as limited partners, …

Andrew Ng’s New AI Fund Raises $175M From Sequoia Capital, SoftBank

Andrew Ng, former chief scientist at Baidu and one of the founders of the Google Brain team, announced that his artificial intelligence-focused incubator AI Fund has raised US$175 million from investors including Sequoia Capital, the SoftBank Group, New Enterprise Associates, Greylock Partners and others.

Singapore’s Temasek Leads $100M Round In Chinese Robotics Firm Rokid

Singapore’s Temasek Holdings has led a new funding round in Rokid, a Chinese robotics start-up. Investors including Credit Suisse Group, CDIB Capital International, and existing investor IDG Capital also participated in the round, Rokid announced on its Wechat official account. The company did not disclose the amount it raised, but Chinese media reports put the number at US$100 million. Rokid did not immediately respond to China Money Network’s inquiry to confirm the figure. It is also unclear how Rokid is …

Jack Ma’s Alibaba, Xinhua Unleash Robot Journalist Army On China, Raising Privacy Fears

Imagine walking your child to school, then discovering an hour later that you and your child’s image has been featured on state news simply because you happened to walk past a store that was just robbed. This type of invasive news coverage has just become reality in China thanks to a partnership between tech giant Alibaba Group and Chinese state newswires Xinhua News Agency.

From University To Rising Star, How One Chinese AI Start-Up Aims To Make China "Smart"

Yao Song, founder of upstart Chinese artificial intelligence (AI) start-up DeePhi Tech, has a nickname: "Boss Yao". The 25-year-old Tsinghua University graduate has been on a winning streak so far. After securing a victory at a national physics competition championship, Yao was admitted into China’s top university to study electrical engineering without having to take the university entrance exam. While at Tsinghua, he chaired a prominent student science association and organized innovation competitions on campus.

Chinese Artificial Intelligence Robot Passes National Medical Exam For First Time

An artificial intelligence enabled robot has passed the written test of China’s national medical licensing examination for the first time, marking another milestone in the quest for AI technology to match or surpass human intelligence. Named Xiaoyi, the robot developed by Tsinghua University and Chinese information technology firm iFlytek, achieved a score of 456, 96 points higher than the required mark of 360 points, according to a company announcement.

Chinese AI Facial Recognition Firm CloudWalk Technology Raises 75M Series B Round

Shunwei Capital, Oriza Holdings and Puhua Capital have led a RMB500 million (US$75 million) series B round in CloudWalk Technology Co., Ltd., an artificial intelligence facial recognition firm whose technology is widely applied in the financial, public security and aviation sectors. Yuexiu Financial Holdings Group, Shenzhen Qianhai Xingwang Investment Co. and a fund co-invested by Galaxy Holding and Zhangjiang Group participated in the new funding round. Cloudwalk also received RMB2 billion (US$301 million) from the government of Guangzhou to set up …

Tencent Leads $400M Round In Chinese Robot Maker Ubtech At $4B Valuation

Chinese humanoid robot maker Ubtech Robotics is raising a US$400 million series C round led by tech giant Tencent Holdings Ltd. with participation from investors whose identities are unknown at this moment. The Shenzhen-headquartered company has been raising this round at least from six months ago, and the final numbers may still change, according to people familiar with the matter.