Softbank, Foxconn-Backed CloudMinds Inc. Closes $100M in Series A Funding

By Prei Dy, | February 27, 2017

China's CloudMinds Inc. raised a whopping $100 million from its Series A funding.  (YouTube)

China's CloudMinds Inc. raised a whopping $100 million from its Series A funding. (YouTube)

CloudMinds Inc., a startup in China developing cloud-based artificial intelligence, has raised a staggering $100 million in a Series A round from unnamed investors.

The company, which was founded by China Mobile's former head of research Huang Xiaoqing, aims to create artificial intelligent brains on the cloud, instead of within humanoid robots. CloudMinds claims that while an average human brain weighs less than 1.5 kilograms, silicone alone needed for an artificial brain would weigh a thousand tons based on the current computing capacity.

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The Shenzhen-based firm has also launched a cloud intelligence ecosystem, combining the cloud, networks, and terminals. It has further commissioned a "META Program" to create a cloud-based navigation robot for vision-impaired individuals. The program produced a guide helmet, CloudMind's first cloud-based smart wearable device, which will aid blind people to navigate street, avoid obstacles, recognize faces and objects, and plan the route.

It is also working on a cloud central control system that connects actual humanoids with a central "nerve system" on the cloud. A cloud-based smart control terminal known as DATA serves as a link between a physical robot and a cloud-based "brain" to ensure the robot operates safely and properly.

Aside from those, CloudMinds is exploring other ways to integrate artificial intelligence in the financial, health, government, and manufacturing sectors. Established in 2015, the artificial intelligence and cloud computing firm also specializes in cloud-based smart robotics, secure cloud networks, large AI machine learning platforms, and secure smart terminal and robot controller technologies.

CloudMinds cloud central system has been used by several Chinese establishments, ranging from insurance companies and property firms to government applications.

The latest round of financing follows the completion of an earlier angel and seed financing last May worth $31 million from SoftBank Group International, Hon Hai Precision Industry Co Ltd (or Foxconn), Walden International, and Keystone Ventures.

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