UPDATE 1-Google takes minority stake in 0 mln China start-up Mobvoi

(Adds details of deal, comments of Mobvoi co-founder)* Google invests as it tries to re-establish China presence* Funding values Mobvoi at $300 mln – co-founderBy Paul CarstenBEIJING, Oct 20 (Reuters) – Google will take a minority stake in Beijing-based artificial intelligence firm Mobvoi as part of a $75 million fundraising round, the start-up said on Tuesday, as the U.S. search giant tries to rebuild its presence in China. Mobvoi works on artificial intelligence (AI) voice-controlled software, like that used in Google’s Android products for mobile search, and also develops hardware like smart watches. Google’s parent company is now named Alphabet Inc .The Google-led Series C fundraising values Mobvoi at $300 million, with the start-up maintaining a controlling stake, said co-founder Li Yuanyuan in a telephone interview. The size of the…


Link to Full Article: UPDATE 1-Google takes minority stake in 0 mln China start-up Mobvoi

Pin It on Pinterest

Share This

Join Our Newsletter

Sign up to our mailing list to receive the latest news and updates about homeAI.info and the Informed.AI Network of AI related websites which includes Events.AI, Neurons.AI, Awards.AI, and Vocation.AI

You have Successfully Subscribed!