DMAI, a Chinese cognitive artificial intelligence (AI) platform that offers smart solutions for city management, education, and business operations, has raised 500 million yuan (close to $75 million) in the first tranche of its Series B funding round with support from five Chinese state-owned corporates.
The new funding came after the startup moved its headquarters from the US to Nansha District in southern China’s port city of Guangzhou, as the local government is looking to attract more talents and technology companies in its attempt to transform the region into a tech incubation hub.