China’s leading AI and education company, Liulishuo, has achieved a series C funding of $100 million in a round of funding led by China Media Capital (“CMC”) and Wu Capital with participation also coming in from its earlier investors, such as Trustbridge Partners, IDG Capital, GGV Capital, Cherubic Ventures and Hearst Ventures, to enable AI-infused teaching.
Liulishuo has a vast data collection of Chinese people speaking English that has led to the company to develop automatic assessment engine for spoken and written English. Its mobile app “Liulishuo” has garnered over 45 million registered users and is the most popular language learning community in China. Its AI English Teacher launched in July 2016 in the app provides a personalised and adaptive learning path for every learner and is proven to triple the learning efficiency. It has about 600,000 paying users within a year making the company profitable in 2017.
Yi Wang, the founder and CEO of Liulishuo said: “With this round of financing, we plan to increase our effort in hiring top-tier AI talents globally to extend our lead in the intersection of artificial intelligence and education, and launch more AI-powered personalized learning products.”
Elsewhere, automobile manufacturers Hyundai and Kia have partnered with AI specialist, Kakao to advance their products using its AI platform, Kakao I, which recognises text, speech and images. According to a report from Mobile ID World, it will be integrated into a custom system that will have server-hosted speech interaction for drivers helping them out with directions. Hyundai’s Genesis G70 luxury car, slated for release this September, will be the first vehicle to feature the custom Kakao system.
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