Fourth normal form completed the C+round of financing, with a valuation of about $2 billion
4Paradigm recently announced the completion of the C+ round of financing. The total financing amount of the C round reached 230 million U.S. dollars, and the post-money valuation was about 2 billion U.S. dollars. In this round of financing, new strategic shareholders including Cisco, China CITIC Bank, Lenovo, Pine Harvest Capital, and Co-Stone Capital joined as financial investors. The completion of this round of financing has laid a good foundation for 4Paradigm to rapidly expand the upstream and downstream resources of the industrial chain, and will help build an AI-based enterprise-level service ecosystem.
Founded in 2014, 4Paradigm’s current business scope covers finance, retail, medical care, manufacturing, Internet, media, government, energy and operators, and many other industries. It serves customers including Industrial and Commercial Bank of China, China Merchants Bank, PetroChina, Yum China, Yonghui Superstores, People's Daily, Ruijin Hospital and other leading enterprises. With 8,000 customers and tens of thousands of landing scenarios, it was selected as the No. 1 machine learning platform market share in China by IDC MarketScape.
The 4Paradigm promotes the continuous implementation of AI in various industry scenarios and social fields, and then brings new changes to everyone's production and life, including a more exclusive consumption experience, a more agile supply chain system, more convenient medical services, and more efficient intelligent manufacturing, etc. Against the background of the global war against the epidemic, 4Paradigm immediately invested in the frontline of the fight against the epidemic, using technology to help fight the epidemic, and quickly developed three AI epidemic prevention systems: precise prevention and control screening, epidemic deduction, and infection path tracking , Played an important role in the government's precise prevention and control of the epidemic. At the same time, in order to help enterprises cope with the sudden outbreak of online demand, 4Paradigm provides enterprises with online, intelligent and refined operation capabilities, and helps traditional industries such as retail, finance, and manufacturing realize "consumer-centric" and actively embraces Digital innovation, grasp new opportunities for online development.
In the fight against the epidemic and the resumption of work and production by the whole people, artificial intelligence has revealed its important value in serving society and the economy. In March of this year, the central government made deployments to speed up the construction of new infrastructure and support the development of traditional industries in the direction of networking, digitalization, and intelligence. Among them, artificial intelligence will play an important role in promoting China's economic transformation and upgrading. Artificial intelligence is a new productivity that changes the efficiency of the industry, and its infrastructure attributes are gradually emerging. As China's first platform-based AI company that is completely autonomous and controllable from algorithms to calculations, 4Paradigm is striving to develop into an important part of China's AI infrastructure . After this round of financing, 4Paradigm will accelerate the pace of AI industry-wide empowerment and large-scale implementation, and help companies from all walks of life realize AI strategic transformation oriented toward creating business value. Looking forward to working with more companies and partners to share the broad future of new infrastructure construction.