Sequoia leads $60m funding in AI startup

Venture capitalists and private equity funds are investing in Aibee, a young startup founded by Baidu’s former head of deep learning.
Yuanqing Lin, founder and CEO of Aibee
Yuanqing Lin, founder and CEO of Aibee

Aibee Beijing Intelligent Technology, a Chinese technology startup that focuses on artificial intelligence, has raised $60 million. The Series A deal underscores just how eager venture capitalists and private equity funds are to pursue high-quality AI developers.

The 12-month-old startup said on Tuesday that the latest round of funding was led by Sequoia Capital and furniture retailer Red Star Macalline.

Other investors include Lenovo Capital and Incubator Group the venture capital arm of computer maker Lenovo, China Renaissance K2 Ventures, Zhongli Fund Management, and C Ventures.

Founded only in November last year, Aibee is one of a handful ...

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