SoftBank Invests RMB 220 Mln in Machine Vision Firm 'Malong'
36kr.com, 11/10/17
Shenzhen-based Malong Technology, developer of machine vision platform ProductAI, recently announced completion of RMB 220 mln in Series B funding from SoftBank China Venture Capital. Funds will be used to support technology innovation and to accelerate international expansion.
Established in 2014, Malong Technology focuses on developing artificial intelligence product recognition systems. Malong launched a product recognition platform called ProductAI in October 2016, which includes product recognition, image search and image recognition technologies for enterprise customers. The platform is currently used for customer applications in the apparel, fabric, home furnishings, retail, food and beverage, and copyright protection domains.
Malong Technology initially focused on the textile and fashion markets and has partnered with the China Textile Information Center to launch an AI Color Trend service through its WeChat public account. Users can click on a timeframe, name, or brand that they wish to explore to view a detailed color analysis report and trend information, and can also use the system to identify suppliers that offer a particular color textile.
Since launching ProductAI, more than 300 enterprise customers have applied to use the platform each month, and the platform's user base has been growing at a rate of more than 40% per month.
Editor's Note: For more information on this topic, please see Image Recognition AI Firm 'Malong' Secures RMB 62 Mln Series A, MD 10/24/16 issue.
Keywords: funding software image search Series B image recognition Softbank China Venture Capital artificial intelligence Malong VC
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