Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Emotibot secures USD 30M in Series B round

Emotibot, a Chinese robot solutions provider, has secured USD 30 million in series B round funding, according to a report from EqualOcean Media.

The funding round was led by China Development Financial, followed by Cathay Financial Holdings. Its existing investors Ecovacs and Advantech Capital also participated in this new capital injection, while Light House Capital served as exclusive financial advisor in the transaction.

The investment confirms once again China is at the forefront of the AI race. Just earlier this month Beijing-based computer vision unicorn Megvii raised $500 million in a new investment round, and a report from Elsevier predicted the country could lead the world in AI research in just four years.

Founded in 2015 by Kenny Chien (Jian Renxian), Emotibot focuses on artificial intelligence solutions based on deep learning, Chinese semantic understanding, emotional calculation and computer science to provide emotional robot solutions.

The company is creating robots that can read, see, listen, remember, self-learn, and understand a user’s emotions, as well as and the affective states, emotions and intentions of the speaker. Through NLU (Natural Language Understanding) and emotion recognition, Emotibot allows the robots to accurately understand the intent of user inquiries, thereby reducing operational costs and improving efficiency.

This, the company claims, will allow “people to have a better life, work environment, and to solve business problems of high importance.” Kenny Chien, the founder and chief executive officer of Emotibot, said the company is trying to prove that the business model embedded with Natural Language Processing (NLP) and emotion calculation can be profitable.

He added that Emotibot will continue applying their technology to more scenarios and make artificial intelligence a reality.

SHARE THIS ARTICLE:
BY SHACK15

Co-working space and blog dedicated to all things data science.

Subscribe to our newsletter