BEIJING, March 4, 2020 /PRNewswire/ -- CB Insights today named AInnovation to the fourth annual AI 100 ranking, showcasing the 100 most promising private artificial intelligence companies in the world.
"It's been remarkable to see the success of the companies named to the Artificial Intelligence 100 over the last four years. The 2019 AI 100 saw 48 companies go on to raise $4.9B of additional financing and nine got acquired," said CB Insights CEO Anand Sanwal. "It has been gratifying to see that CB Insights' data-driven approach to identifying the top AI companies using patents, customer traction, investor quality, market sizing and more has become so effective at picking the AI winners of tomorrow. We look forward to seeing what the 2020 AI 100 companies will accomplish over the course of this year and beyond."
In addition to disrupting core sectors including healthcare, retail, and finance, the 2020 AI 100 companies are revamping the broader enterprise tech stack. These companies span the globe, from the US, UK, China, Chile, and South Africa, and are supported by more than 600 investors.
Hocking Xu, CEO of AInnovation, said, "It's an honor to be named as one of the CB Insights AI100 companies. AInnovation is committed to bring AI to the real world by empowering the industries of manufacturing, retail and finance. Driven by the two-wheel business model – 'Technology & Products'+ 'Industry Scenarios', as a 2-year-old company, we've gain remarkable growth in terms of technology, business, revenue and financing, especially our industrial intelligence and decision intelligence have acquired hundreds of customers. Looking forward, AInnovation will keep up the momentum to become a leading AI to B company."
Through an evidence-based approach, the CB Insights research team selected the AI 100 from nearly 5,000 companies based on several factors including patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights' algorithm, measures the overall health and growth potential of private companies to help predict a company's momentum.
Established in 2018, AInnovation is an AI to B company targeting the industries of manufacturing, retail and finance. So far, AInnovation has raised about $150M from seed, series A/A+ and B finance rounds. In 2019, its revenue hit over $ 100M, a 5-fold increase from previous year. Most of its products and solutions are built on computer vision technology and machine learning. Notably, AInnovation achieves marvelous achievements around the application of CV technology. It ranked first in several CV challenges including Wider Face, Pascal VOC, Cityscapes, MOT. It also develops an industrial visual platform ManuVision to do quality assurance in various scenarios, such as 3C assembling, motor engine assembling, magnetic material, garment, metallurgy, non-destructive inspection. According to IDC, AInnovation is the No.6 player in China CV market.
Quick facts on the 2020 AI 100:
About CB Insights
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Founded in March 2018, AInnovation is the AI subsidiary of Sinovation Ventures. With the mission of "AI Empowering Business", AInnovation is committed to providing companies with AI-enabled products and business solutions powered by cutting-edge AI technologies, which empower corporate customers and partners to improve their business efficiency and value as well as accelerate their digital transformation.
Driven by a two-wheel model: "technology & products" and "industrial scenarios.", AInnovation provides total AI solutions for the manufacturing, retail and finance sectors. Since its inception, the company has grown rapidly and raised nearly US $150M from a combination of angel investment and the Series A/A+ and B financing rounds.