China's Today AI Raises Over $200 Million
China's Today AI has raised over $200 million from Tencent, Ant Group, and IDG Capital to develop a proactive AI personal assistant.
Chinese startup Today AI has raised over $200 million in a new funding round, with participation from IDG Capital, Tencent, 5Y Capital, Ant Group, and HSG.
The list of investors also included Transsion Holdings, Tonghe Venture Capital, and Shanghai Jiao Tong University's Hanyuan Asset, according to 36Kr.
The company was founded by Qi Junyuan, former head of the PC version of ByteDance's Doubao app, and is building a proactive AI personal assistant.
The company did not disclose its valuation or the terms of the deal, at a time when competition among Chinese AI companies for personal assistants is intensifying.
What do these terms mean?
Proactive Assistant: An AI program that suggests tasks or actions on its own before the user asks.
Funding Round: The process of raising money from investors in exchange for an equity stake in the company to fund its growth.
Valuation: The estimated market value of a company set by investors when injecting new capital.
Weekly Newsletter
Read between the lines before everyone else. Decode the most important economic, tech, and decision-maker movements in the region.. in 5 minutes every Saturday.
