What’s new: Terminus Group, a Beijing-based artificial intelligence services provider, has completed a funding round of 2 billions yuan ($276 million) from investors led by Australian investment firm AL Capital and Chinese private equity fund Yuyao Yangming Equity Investment Fund.
Investors in Terminus’ series D funding round include Futian Capital Holdings Co. Ltd., Gemdale Corp., China Everbright Ltd. and SenseTime Group Ltd., said the company.
The funds raised will be used to enhance the research and development of AIoT (Artificial Intelligence of Things) technologies, expand its business to the broader global market, and accelerate the large-scaled industrial application of AIoT-based multimodal Large Language Models (LLMs), it said.
Background: Founded in 2015 in southwestern China’s Chongqing, Terminus focuses on AIoT solutions for smart cities and has engaged in strategic partnerships with city authorities and businesses such as Beijing, Shanghai, JD.com, and the Dubai Expo 2020. It has also expanded its global presence by establishing headquarters in the Middle East and North Africa in 2021.
The company said it has developed a series of vertical domain models targeting urban scenarios including industrial parks, corporates, economy and energy to accelerate the application of LLMs.
Before the latest funding round, the company has competed four others, raising nearly 4 billion yuan. Terminus counts China Everbright as one of its major investors.
Contact reporter Han Wei (weihan@caixin.com)
