Simo Technology, A new generation of cutting-edge visual AI technology company, announced today that it has completed A series of financing. According to sources familiar with the matter, the financing amount of Simo technology exceeded 100 million US dollars, becoming the youngest AI enterprise in the industry. The new investors include Songhe Capital, Sequoia Capital China Fund, Cornerstone Capital, Wen Tianxia Investment, etc. In June this year, Simo Technology announced that it had received tens of millions of dollars in Pre-A round of financing, and institutions such as Legend Venture Capital, IDG Capital and ZhenFund continued to increase their investment in this round. Shen Xiaoyong, co-founder and CEO of Simo Technology, said the funds will mainly be used to continue to increase investment in intelligent manufacturing, ultra high-definition video track, recruit more top talent at home and abroad, and accelerate the global business layout.
Rapid commercial deployment to create outstanding industry value
Since its establishment in December 2019, Simo Technology has gone through the "black swan" of the epidemic and the "capital winter" of the AI industry. In less than a year, Simo Technology has frequently won the favor of top investors at home and abroad, and has become a "dark horse" focused by the industry, quickly becoming one of the pioneers. Behind the attention and favor is Simo's strong technical background, as well as the rapid commercialization of the deployment of the great value.
Shen Nanpeng, global managing partner of Sequoia Capital, said, "New AI companies like Simo Technology represent the development trend of the industrialization of the new generation of AI, deeply empowering the industry with core technology innovation as the source, so that AI can fully show its value in the real economy. We were impressed by the team's deep thinking and ultra-forceful drive. Looking ahead, the combination of AI and industry will continue to play a pivotal role in industrial change. I believe that Si Mou will grow rapidly and play an increasingly important leading role in promoting industrial change."
Li Wei, founding partner of Songhe Capital, believes that Simou Technology has achieved a number of milestones in less than a year, which is very amazing, and Simou also proves its great value to the industry with its excellent technical strength and landing ability. Especially in the context of the current national strategy of "new infrastructure", the track chosen by Simou is completely in line with the main direction of industrial transformation and upgrading, with unlimited development space, and will set a new benchmark for AI enterprise service field.
He Zhiqiang, senior vice president of Lenovo Group and president of Lenovo Venture Capital Group, said that Lenovo Venture Capital has been paying continuous attention to Simo since its founding stage, and continued to add A round of investment on the basis of Pre-A round, which is a firm optimism and support for the development of Simo and China's AI industry. Simo is a company with constant surprises, and its development speed is beyond expectation. It has achieved breakthroughs in technology, performance, landing and other dimensions in less than one year, becoming a leading enterprise. The comprehensive and deep integration of AI and the industry will burst out new surging power. Lenovo Venture Capital will integrate global Lenovo industrial ecological resources, as always, fully support and help Si Mou to achieve greater strategic goals and international market value.
Technology leads the two major industries to keep pace with each other
As a new leader in the AI industry, Simo Technology is guided by the core needs of manufacturing and ultra high-definition video industry, and faces the industry pain points and difficulties. Relying on the profound accumulation of more than 20 years of computer vision research and development and application ability, Simo Technology proposes to take the new generation of visual AI technology architecture as the guidance, aiming at complex and diverse application scenarios. SMore ViMo intelligent manufacturing and SMore Media ultra HD video solutions, with strong versatility, excellent performance, rapid deployment, software and hardware collaboration and other advantages, let AI technology into the front line of the industry, directly serve the main battlefield of high-quality development.
At present, Simo Technology has more than 100 customers, covering high-end consumer electronics, new energy, automobiles, video content production and providers, and has reached cooperation with many Fortune 500 enterprises at home and abroad, global mobile phone and smart device giants, enabling hundreds of production lines, and its visual AI technology has been applied to tens of millions of industrial or consumer products.
According to the feedback from a head manufacturer, one of Simo's customers, for some core parts of high-end precision products, it was unthinkable to rely on manual quality inspection of all, not one leak. However, the vision AI of Brainmind has achieved what cannot be done, and it is very accurate, efficient and easy to use, which makes it possible for manufacturers to track and manage each product in the whole life cycle, greatly improving the production efficiency and intelligence level.
Join hands with industry talents and ecological partners to accelerate the global business layout
From the announcement of the completion of the Pre-A round of financing in June to the completion of the A round of financing in October, the development speed of Simou technology is remarkable. Shen Xiaoyong, co-founder and CEO of Simou Technology, said that in the past six months, Simou's business market has witnessed rapid growth and the scale of employees has steadily increased. The company has set up R&D and business centers in Shenzhen, Shanghai, Hong Kong and Suzhou. In the next step, we will continue to improve the domestic layout, and continue to strengthen the recruitment of R & D and sales personnel, especially top talents in the industry, and accelerate the cultivation and expansion of backbone team to meet the needs of the company's rapid development.
At the same time, Simo Technology is accelerating the pace of global business. At present, it has realized the landing and delivery of a number of overseas projects. Simo AI technology has taken the lead in covering film and television media, port logistics, public services and other fields. In November, SmartMore Japan Ltd. will launch in Tokyo, further stepping up its efforts to expand overseas.
Shen Xiaoyong believes that the current industrial application of artificial intelligence is moving towards the deep water zone, and there is still a huge value space to be explored under the water surface, which puts forward higher requirements for AI technology, landing efficiency, flexibility and adaptability of scene application. "We can use AI to build whatever tools the industry needs," Shen Xiaoyong said that Simu will take root in China and even the global industrial informatization, digitalization and intellectualization process, and strive to become the AI expert that enterprises have been looking for. Together with top talents and industry ecological partners, Simu will share the dividends of AI technological revolution and constantly create new business value.
【 On thinking 】
Founded in December 2019, SmartMore is a leading enterprise in the new-generation vision AI cutting-edge technology, committed to the landing application of AI vision architecture in intelligent manufacturing and ultra-high-definition video fields. Simo Technology was founded by Jia Jiaya, a tenured professor of the Chinese University of Hong Kong and IEEE Fellow, and its core team has been deeply engaged in the field of computer vision for more than 20 years. The company's business covers the Yangtze River Delta, Greater Bay Area and overseas markets, and its cooperative customers come from 3C electronics, automobiles, new energy, Internet, intelligent terminals and other industries.
