Chinese AI Startup DataGrand Secures USD 38 Million in Series B+ Round of Funding

DataGrand was founded in 2015 with a commitment to the development and application of Natural Language Processing (NLP), Optical Character Recognition (OCR), Knowledge Graph, and other AI technologies

Fremont, CA: AI startup offering Natural Language Processing and RPA service, DataGrand, secured USD 38 million in a Series B+ funding round led by Shenzhen Capital Group, with participation from existing investors SAIF Partners, Z Capital, and Mount Morning Capital managed by CBC Capital. The Chinese AI firm is aiming to scale up its business with the help of the capital raised from this round.

"From the perspective of Linguistics, Chinese grammar is more complex and flexible compared with English, which brings great difficulty and challenge to Chinese NLP not only in methods but also in product implementation. With solid Chinese NLP technology, DataGrand has launched a number of automatic text processing products. At present, our systems can smoothly process documents both in Chinese and English. And this has gained a lot of praise in the industry," said Dr. Chen Yunwen, Founder and CEO of DataGrand.

DataGrand was founded in 2015 with a commitment to the development and application of Natural Language Processing (NLP), Optical Character Recognition (OCR), Knowledge Graph, and other AI technologies. The company provides its customers with multiple text automation solutions, such as documentation review, intelligent recommendation, intelligent search, knowledge mapping, and more. The company has established itself as one of the fastest-growing and highest valued AI enterprise software companies in China.

"We are delighted to have invested in DataGrand and are very much looking forward to working with Dr. Chen and his down-to-earth and highly talented team. Shenzhen Venture Capital is very optimistic about applications of AI, NLP, and RPA, and DataGrand is a particularly excellent company in this area," said Ni Zewang, Chairman of Shenzhen Venture Capital.

DataGrand RPA, launched in 2019, is a platform that incorporates a semantic understanding module and is the first NLP + OCR + RPA intelligent RPA robot independently developed in China. The platform provides companies with more intelligent automation and was described by Dr. Chen as "to find the right application scenarios for technologies and then create value." Currently, DataGrand service is deployed and used in dozens of vertical industries, and more than 100 enterprises. The company has established a strategic partnership with Microsoft, Sogou, and China Ping An Group. DataGrand has also served multiple high profile customers, including China UnionPay, Shenzhen Stock Exchange, HSBC, Deloitte, China Mobile, Huawei, Haier, Decathlon, and many more.

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