BEIJING, Jan. 16, 2020 /PRNewswire/ -- Recently, AInnovation, a high-momentum AI startup, ranked first in Multiple Object Tracking (MOT) Challenge for the multiple object detection task under MOT17Det dataset, surpassing the performance of many globally well-known enterprises and research organizations including Stanford University, Tencent, SenseTime, etc.
Since last year, AInnovation has made significant progress in computer vision field in terms of both technological innovation and practical applications. For example, it hit the top of 3 computer vision challenges - Pascal VOC, Cityscapes, MOT, and is the top 6 AI solution provider in Chinese computer vision market, according to a report from IDC.
Faen Zhang, the CTO of AInnovation, said, "Computer vision in industrial environment is booming, and the innovation focus is leaning toward applications in specific scenarios, such as quality assurance for industrial products, shelf intelligence and smart vending machines for the purpose of smart retail."
AInnovation, dedicated to bringing AI to the industries of manufacturing, retail and finance, deploys various advanced CV and other algorithms to its ManuVision platform, based on which, the Quality Assurance all-in-one Machines are provided to a wide range of customers in different industries like garment, motor, consumer electronics, helping to identify defective products. It also uses computer vision technology to help FMCG brands to manage and improve the display of goods on the shelf in supermarkets. Many customers are benefiting from these CV-based solutions, such as Yee Tung Group, Nestle, Carlsberg, Wyeth, etc.
AInnovation has just closed Series B funding, in the amount of nearly US$60 million, which brings the total to US$150 million. According to AInnovation, it will further beef up the R&D of AI technologies, expand AI application scenarios, and provide more practical AI products and solutions for the manufacturing, retail and financial industries.
About AInnovation
Founded in March 2018, AInnovation is the AI subsidiary of Sinovation Ventures. With the mission of "AI Empowering Business", AInnovation is committed to providing companies with AI-enabled products and business solutions powered by cutting-edge AI technologies, which empower corporate customers and partners to improve their business efficiency and value as well as accelerate their digital transformation.
Driven by a two-wheel model: "technology & products" and "industrial scenarios," AInnovation provides total AI solutions for the manufacturing, retail and finance sectors. The company's customers include CISDI, Zongshen, Gree, Baowu Steel, Changan Automobile, CTCE Group, Yee Tung Group, Mars, Nestle, Carlsberg, Yonghui, Swellfun, Wyeth, Postal Savings Bank of China, China Everbright Bank, PICC, CPIC and Taikang, among other leaders across a wide spectrum of industries.
Since its inception, the company has grown rapidly and raised nearly 1 billion yuan from a combination of angel investment and the Series A/A+ and B financing rounds. Based in Beijing, AInnovation has established a presence across China with operations in Guangzhou, Chongqing, Nanjing, Hefei, Chengdu, Xi'an, Qingdao and Shanghai, and set up headquarters in the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta region. The company has also formed a manufacturing JV with CISDI - CISAI Tech, and established a finance subsidiary - AInnovation AI, in a move to enhance its influence in the industry.
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