Short video platform PearVideo receives USD 25M for pre-Series A
Founded in: 2016
Financing status: RMB 167 million (USD 25 million) for pre-Series A financing in 2017
Short video platform, PearVideo, received USD 25 million for pre-Series A on November 16 to spread its range of online content.
PearVideo is a short video platform that provides the younger generation with mobile-oriented short video products for watching and sharing. All the short videos on PearVideo are based on in-depth editorial and original reporting, and combine its innovative technologies and tools, which are well adapted for consumption. Additionally, PearVideo’s short videos are spreading on social media platforms globally.
Founded in 2016 in Beijing, PearVideo’s content covers business, society, technology, entertainment, life, and other areas. It has already set up offices and short video product centers in Beijing and Shanghai. The company produces more than 1000 short videos daily, with over 500 million plays.
This new financing round was led by People.cn, a national online media center that covers more than 210 countries, as well as over 200 million users. The capital will be used to run strategic collaboration with People.cn for rich its content, as well as expand its market influence.
AI unicorn SenseTime signed a strategic investment agreement with Qualcomm
Founder: Xu Li
Founded in: 2014
AI unicorn, SenseTime, signed a strategic investment agreement with Qualcomm on November 15 to deploy its AI algorithms in more smartphones and devices.
SenseTime is a AI startup that provides its partners with artificial intelligence applications and big data analysis services based on deep learning algorithms. It mainly develops AI technology in facial, text and image recognition, as well as autonomous driving systems, and so on. Its technical solutions are well adapted in several industries, including finance, mobile internet, as well as security and surveillance. Its partners come from various industries, such as ChinaMobile, NVIDIA, Xiaomi and so on.
Founded in 2014 in Beijing, it has set up subsidiary offices in Beijing, Shenzhen, and Hong Kong. It has partnered with more than 400 companies, providing them with AI technical services. Meanwhile, its facial recognition technology has an error rate below one in 100,000, according to its website.
SenseTime previously received financing funding from IDG Capital, StarVC, CDH Investments, Sailing Capital, China Everbright Limited and so on. Last month, SenseTime and Qualcomm Technologies, Inc., a subsidiary of Qualcomm, announced a collaboration for on-device AI solutions. Boosted by this strategic agreement with Qualcomm Technologies’ collaboration and pending investment from its Qualcomm parent, SenseTime’s proprietary AI algorithms will be deployed in more smartphones and devices.
（Top photo from 699pic.com）