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